Steppe Gold Revenue Surges on Higher Gold Prices, Production

Steppe Gold, a Mongolia-based precious metals miner, reported significant revenue growth in Q2 2026, driven by higher realised gold prices and increased production. The company's revenue surged to $61.8 million from $32.3 million in the prior-year quarter.

The average realised gold price rose to $4,493 per ounce in Q2 2026 compared to $2,142 per ounce in Q2 2025. This increase was partly due to some 2025 sales being made under a fixed-price forward contract at $2,000 per ounce.

Steppe Gold produced 22,465 ounces of gold and sold 13,724 ounces in Q2 2026, compared to 13,000 ounces produced and 15,058 ounces sold in the same period last year. The company's production guidance for 2026 remains near 68,000 ounces.

Despite the revenue increase, Steppe Gold reported a net loss attributable to shareholders of $175,000 in Q2 2026, compared to a net profit of $9.0 million in Q2 2025. The company attributed this quarterly loss partly to expenses related to the Triple Flag settlement.