Steppe Gold

Launch date

2016

Employees

Market cap

Enterprise valuation

CAD240m (Public information from Sep 2024)

Ulaanbaatar Ulaanbaatar (HQ)

http://steppegold.com

https://twitter.com/steppegold https://www.facebook.com/tsagaanovoohugjil https://www.linkedin.com/company/steppe-gold-ltd/

Revenues, earnings & profits over time

USD	2019	2020	2021	2022	2023	2024	2025
Revenues	-	52.1m	24.0m	62.4m	54.4m	70.3m	155m
% growth	-	-	(54 %)	159 %	(13 %)	29 %	120 %
EBITDA	(4.4m)	20.0m	3.7m	29.4m	14.7m	13.4m	65.9m
% EBITDA margin	-	38 %	15 %	47 %	27 %	19 %	43 %
Profit	(5.2m)	(4.0m)	(22.6m)	16.0m	8.8m	7.1m	48.5m
% profit margin	-	(8 %)	(94 %)	26 %	16 %	10 %	31 %
EV / revenue	-	2.7x	5.6x	0.9x	1.1x	0.7x	0.3x
EV / EBITDA	-6.8x	7.0x	36.8x	2.0x	3.9x	3.6x	0.7x

Date	Investors	Amount	Round
May 2018	N/A	N/A	IPO
Aug 2020	N/A	CAD15.0m	Post IPO Equity
Apr 2023*	N/A	CAD9.0m	Private Placement non VC
Jul 2023*	Trade and Development Bank	N/A	Post IPO Debt
Total Funding		-

Anacortes Mining

ACQUISITION by Steppe Gold Mar 2023

ACQUISITION by Steppe Gold Jan 2024