Mongold - Sponsors SMC
Naran Mandal Gold Operations
NMGO owns and operates the Tsagaan Tsakhir deposit, which is a high-grade, orogenic, steeply dipping narrow-vein orebody comprising more than fifty (50) quartz veins across two mining licences. The November 2021 JORC-compliant Mineral Resource Statement contains 871,000t @ 5.8g/t for 161,900 oz Au, including Indicated Resources of 256,000 tonnes at 6.8 g/t Au. The operation is located approximately 750 kilometres southwest of Ulaanbaatar, the capital of Mongolia.
Mongold has built a conventional shallow underground mine accessed through two tracked inclined shafts and one trackless decline to mine three of the known veins on the property. The mine production is processed through a gravity and Merrill-Crowe plant at a rate of approximately 125,000 tonnes per year.
The two NMGO operational mining licences remain largely unexplored. An additional twelve (12) exploration licences spanning over 470km2 of highly prospective terrain, represent significant upside potential for Mongold in Mongolia in gold, copper, lithium and other base and battery minerals.
The private mining group enjoys the support of a strong group of shareholders including the Reuben Brothers family office and Arqaam, a Dubai-based investment bank.
Mongold has built a strong team with over 600 employees (including contractors) under the leadership of Glenn Baldwin, Mongold CEO. Glenn has a wealth of mining experience having worked in senior management and as an executive of some of the world’s most well-known companies including Gold Fields, Ma’aden and Anglo American. Glenn is supported by:
- Pjotr Gainullin, Head of Business Development based in Singapore – a senior executive with over 15 years of experience in private equity and natural resources financing; and
- Richard Sawyer, country head for Mongolia with more than 20 years of experience in managing major private and public projects.
Social Licence to Operate
In its nearly ten-year history in Mongolia, Mongold has built good relationships with the local and wider communities. The company supports initiatives including health and education, aid to local herders and the sponsorship of local athletes. Two of the three Mongolian Olympic medal winners at the 2021 Tokyo Olympics were sponsored by Mongold and are current or former employees of the company. This focus on community, combined with striving for a world-class safety culture has helped build broad-based support for Mongold’s operations both in the local region and nationally.
1 Raffles Place