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Closing of Landmark Investment by Mongolian National Strategic Investment Fund and Operational Update | INN – Investing News Network

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Steppe Gold Ltd. has successfully closed the US$3M convertible debenture financing with the Mongolian National Strategic Investment Fund PIF SPV.

Steppe Gold Ltd. (TSX:STGO) (“Steppe Gold” or the “Company”) is pleased to announce that it has now successfully closed the previously announced US$3M convertible debenture financing with the Mongolian National Strategic Investment Fund PIF SPV.

The proceeds from the debenture financing will be primarily used towards commencing gold production at its ATO Gold Mine.

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As of today, the Company has mined, crushed and stacked approximately 400,000 tonnes of ore on the leach pad at a grade of 1.99 g/t gold. At a gold recovery of 70%, this equates to around 18,000 oz of gold or US$28m‬ at a gold price of US$1,550 per ounce.‬

The Executive Chairman, Mr. Matthew Wood, said, “The Company is extremely proud to be supported by the Mongolian National Strategic Investment Fund PIF SPV, and it acknowledges its responsibilities to establish a sustainable and safe working place and increase its role in the Mongolian gold mining industry.”

About Mongolian National Strategic Investment Fund

The Mongolian National Investment Fund PIF SPV is managed by DBM Asset Management Company, a wholly-owned subsidiary of the Government-owned Development Bank of Mongolia. http://www.dbmamc.mn/

About Steppe Gold

Steppe Gold is Mongolia’s premier precious metals company and is projected to produce 60,000 ounces of gold from its ATO Gold Mine in 2020. The Company is also completing a feasibility study into the expansion of the ATO Mine to approximately 150,000 ounces of gold per annum.

Steppe Gold has been selected as “The Company of the Year” by the Ministry of Mining and Heavy Industries of Mongolia and “The Investment of the Year” by the Mineral and Petroleum Authority of Mongolia in 2019, respectively.

For Further information, please contact:

Matthew Wood, Executive Chairman
Bataa Tumur-Ochir President and CEO

Shangri-La office, Suite 1201, Olympic Street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements:

The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include, among other things, statements regarding the trading of the Common Shares and business, economic, and political conditions in Mongolia. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Click here to connect with Steppe Gold (TSX:STGO) for an Investor Presentation.

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The new rules of investment – The Economist

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High inflation, amid warnings of a global recession, is forcing investors to tear up the rule book. Since the financial crisis, bonds have been seen as a safe bet—even if they did not promise much of a return. Equity markets, led by soaring tech stocks, were where fortunes were made. Both have plunged this year.

In a world where rising interest rates have left governments worrying about how to afford their debts, and companies will struggle to raise cash, investors need new strategies.

On this week’s podcast, hosts Alice Fulwood, Soumaya Keynes and Mike Bird ask what those new rules of investing look like. Wei Li, global chief investment strategist for the world’s biggest investor, BlackRock, argues this new macroeconomic era is here to stay. And Mohamed El-Erian, chief economic adviser to Allianz, says investors need to focus on picking winners within stocks and bonds. Runtime: 39 min

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Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks

For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer

Listen on: Apple Podcasts | Spotify | Google | Stitcher | TuneIn

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Proposed sovereignty act could scare off investment: Calgary chamber – Calgary Sun

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‘We still don’t see how an act like this contributes to economic growth,’ said chamber President and CEO Deborah Yedlin

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The Alberta Sovereignty within a United Canada Act, tabled by Premier Danielle Smith on Tuesday, could drive investment out of the province, the Calgary Chamber of Commerce warns.

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Chamber president and CEO Deborah Yedlin said the bill, which would allow cabinet to issue directives to disregard federal initiatives, would not help businesses attract investment or employees should it pass the legislature.

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“We still don’t see how an act like this contributes to economic growth,” said Yedlin, adding that Alberta competes around the world for labour and capital, and that any hints of uncompetitiveness or uncertainty could cause the province to be seen as an unfavourable jurisdiction to invest in.

The act was the keystone policy of Smith’s leadership campaign this summer. If passed, Bill 1 would allow ministers to bring motions forward to the Alberta legislature to debate whether a federal initiative is unconstitutional or harmful to Alberta. If the initiative is deemed as such, the legislature could pass a resolution that would direct cabinet to take action, which could include issuing directives to public entities to not enforce the federal policy.

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Government documents argue the bill would not do anything to harm Alberta’s economy. The premier’s office did not return requests for comment Wednesday.

  1. Alberta Premier Danielle Smith makes her way to a press conference after the Speech from the Throne in Edmonton, on Tuesday, November 29, 2022.

    Smith introduces flagship Alberta Sovereignty Within a United Canada Act, giving cabinet new power

  2. Prime Minister Justin Trudeau at the APEC summit in Bangkok, Thailand on Friday, Nov. 18, 2022. THE CANADIAN PRESS/Sean Kilpatrick

    Trudeau says Ottawa ‘not looking for a fight’ on Alberta Sovereignty Act

  3. Alberta Premier Danielle Smith speaks at a press conference after the Speech from the Throne in Edmonton, on Tuesday, November 29, 2022.

    A look at how Alberta’s proposed sovereignty act would work

  4. The Fourth Session of the 30th Legislature opened on November 29, 2022, with Her Honour the Honourable Salma Lakhani, Lieutenant Governor of Alberta, delivering the Throne Speech.

    Alberta Lt.-Gov. Salma Lakhani delivers Throne Speech focused on affordability, health-care reform, jobs, and fighting Ottawa

Speaking Tuesday, Smith said the bill is intended to put Ottawa on notice about provincial jurisdiction and ensure they are equal partners within Canada’s Constitution.

Yedlin argued the act does not allow for constructive conversations with the federal government and that all levels of government need to collaborate to make Alberta an attractive place to invest and to work, stating the province has to compete with jurisdictions from all corners of the globe.

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“This could cause us problems within Canada with other provinces, as well as with Ottawa. That’s not what we need right now,” said Yedlin. “We have worked with Ottawa in the past, perhaps not to Premier Smith’s satisfaction, but I would argue that, you know, let’s dial back.”

Yedlin said Quebec lost investment when that province grappled with the idea of separation. She said that while Smith’s bill makes it clear it is not about separating, just the idea of uncertainty could cause investors to look elsewhere.

Calgary Chamber CEO Deborah Yedlin.
Calgary Chamber CEO Deborah Yedlin. Azin Ghaffari/Postmedia

Lisa Baiton, president and CEO of the Canadian Association of Petroleum Producers, said they are taking time to review the bill with their members. She said they are concerned about any policy that has the potential to create uncertainty for investors.

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“It is important for governments at all levels to work together with the industry in order to attract investment back into Canada,” said Baiton.

Finance Minister Travis Toews was critical of the sovereignty act while he ran against Smith in the leadership contest. At the time, he argued the bill would bring “economic chaos” to Alberta.

On Wednesday, he acknowledged he had legitimate concerns during the summer but said he has since had full opportunity to participate in the development of the bill along with his caucus colleagues, and that it addresses his previous concerns.

For me to support this bill it has to be constitutional, support the rule of law and not create business uncertainty. This bill, as proposed, addresses these concerns,” Toews said in a statement.

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Alberta Finance Minister Travis Toews, file photo.
Alberta Finance Minister Travis Toews, file photo. Darren Makowichuk/Postmedia

Meanwhile, several groups that could fall under the “public entity” definition of the act and could be subject to ministerial directives said they need to read the bill further before providing comment.

University of Calgary representatives said the school was reviewing the bill and will seek clarity on its application if passed. Mount Royal University representatives said they, too, are reviewing the bill and will work with the province on how it applies to post-secondary institutions.

The Rural Municipalities of Alberta declined to provide comment. While speaking at an unrelated news conference, Leduc Mayor Bob Young said they hadn’t had a chance to look at the bill and how it would affect municipalities.

Alberta Municipalities said they are reviewing the bill and that it appears to allow the cabinet to direct municipalities to not enforce federal laws. They said they may have more to say once their analysts have fully reviewed the legislation.

dshort@postmedia.com

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Clinton Orr, Canaccord Genuity, earns Canada’s Top Wealth Advisor award

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Clinton Orr is a Senior Portfolio Manager and Senior Wealth Advisor, CFP, CIM, DMA, DMS, with Canaccord Genuity Wealth Management. Recently, he was recognized as one of Canada’s Top Wealth Advisors in the province. The recognition is based on an independent affirmation of his ongoing commitment to his clients and their financial success.

This prestigious award is given based on a number of factors, including client service and best practices, industry experience, and growth. This has established Orr and his firm as a leader in the wealth management industry.

Canada’s Top Wealth Advisors ranking is developed and distributed by SHOOK Research, and is based on in-person, virtual, and telephone due diligence meetings and ranking algorithms. This algorithm factors in client retention, industry experience, review of compliance records, and firm nominations.

Quantitative criteria include assets that are under management as well as revenue generated for their firms. Investment performance is not considered criteria, because client objectives and risk tolerances vary, and advisors often don’t have audited performance reports.

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Who is Clinton Orr?

Clinton Orr is a financial services professional who earned his start in the industry in 2003. He is a founding member of Becker Orr Wealth Management, a branch of Canaccord Wealth Management, and is a Senior Wealth Advisor and Senior Portfolio Manager with Canaccord Genuity.

Clinton Orr has been able to successfully establish relationships with his clients, who consist of business owners, retirees and professionals. His success in the wealth management space has been achieved through dedication, hard work, a love for the profession, and genuine compassion and caring for his clients.

Orr has been able to set himself apart by developing a strong team and utilizing a unique process called Financial Architecture, which allows him and his team to build customized financial plans that address all of their clients’ needs.

Orr earned a Bachelor’s of Commerce degree and has earned professional designations in financial planning, investment management, and derivatives markets. He has previously been recognized for his efforts in 2021, winning the Wealth Management Advisor of the Year for Canada, as a part of Finance Monthly’s Global Awards. He was also the central region winner of the Client Dedication Award presented by Canaccord Genuity.

Orr is a regular contributor to the Clipper Weekly, providing his professional insights in a regular column that is published monthly. He also makes regular appearances on Global News Winnipeg.

Orr lives with his wife, Jodi, in rural Manitoba where they operate their own charitable initiative, the Pet Life Animal Fund. Both are passionate dog lovers who enjoy giving back.

When Clinton Orr isn’t working, he trains in Jiu-Jitsu and currently holds a blue belt. He and his wife also enjoy spending plenty of time together watching the Winnipeg Jets and the Winnipeg Blue Bombers.

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