“Mongold has a clear strategy over the next three years, which includes increasing production, focusing on exploration, and closing on current M&A activity while looking for future acquisitions.”
Mongold is a Central-Asian junior gold producer headquartered in Singapore and with operations in Mongolia. The company has a supportive group of shareholders and an experienced and resilient management team based both in the company’s offices in Singapore, Ulaanbataar and on site at the operations. The company’s flagship operation, Naran Mandal in Mongolia is a high-grade deposit with only 12% of the known resource currently exploited, leaving significant upside to be achieved through additional investment and upgrading technology. Early stage exploration on the mining lease shows promising results in two projects. There is a clear strategy to increase production while remaining a low-cost, high-margin gold producer.
1950
The first scientific surveys of the Naran Mandal deposit were carried out by Soviet State Russian geologists during the 1950s. These geologists estimated a significant economic resource was present.
1967
A subsequent drilling expedition was carried out in 1967 by East German geologists who inferred an economic resource on at least 8 of the 54 veins on the Naran Mandal deposit, based on shallow drill results.
1990
The Mongolian government issued a mining license for the Naran Mandal deposit based on the work conducted by Russian, German and Japanese scientists.
2003
Bayangazar LLC forms a joint venture with a Chinese partner and acquires the Naran Mandal deposit. A plant is commissioned in 2004 and mining starts the same year.
2011
A consortium of high net worth British and American investors form the company that will eventually become Mongold. The consortium begins exploring gold opportunities in Asian frontier markets.
2014
Mongold acquires control of the Naran Mandal gold mine project via a joint venture agreement with a local partner.
2015
Mongold begins investing into the Naran Mandal gold project, developing the underground mining operations and commencing plant construction.
2017
Mongold fully commissions the plant at the Naran Mandal gold project and operations begin. Trial production commences and a JORC compliant drilling campaign is carried out. Mongold acquires 12 additional exploration licenses in Mongolia.
2020
The capacity of the plant at the Naran Mandal Gold Operations is expanded. Off-mine and near-mine exploration and M&A activity continue.
2023
An ore sorter is installed and commissioned on the Naran Mandal Gold Operations site, increasing plant efficiency.