Cerrado Gold Stock Price, News & Analysis

Cerrado Gold has appointed Ed Guimaraes as Executive Vice President, effective June 1, 2025. Guimaraes brings over 30 years of mining industry experience, including significant roles as CFO at Sierra Metals (2014-2023) and Executive VP Finance & CFO at Aur Resources (1995-2007). His expertise spans base and precious metals operations across North and South America, notably contributing to Aur Resources' US$4.1 billion acquisition by Teck Resources. A Chartered Professional Accountant with ICD-Rotman certification, Guimaraes will support Cerrado's growth initiatives, particularly the Minera Don Nicolas gold mine expansion and advancement of the Lagoa Salgada VMS and Mont Sorcier Iron Ore Projects.

Cerrado Gold (CRDOF) reported its Q1 2025 financial results, with gold equivalent production of 11,163 GEO and Adjusted EBITDA of $4.8 million. The company maintained its full-year guidance of 55,000-60,000 GEO. Q1 highlights include a record heap leach production of 6,897 GEO and revenue of $28.8 million from selling 10,992 ounces of gold at an average price of $2,520/oz. The company reported a net loss of $4.2 million, an improvement from $7.3 million loss in Q1 2024. Cash balance remained strong at over $20 million while AISC was $1,932/oz. The company expects unit costs to decline to $1,500-1,700 as production increases. Cerrado has expanded its crushing capacity and initiated underground operations, with production expected to begin in Q3. The company also extended its hedging program with Ocean Partners UK Ltd, covering 2,000 ounces monthly from May to December 2025 with price boundaries of $3,100-$3,250 per ounce.

Cerrado Gold (CRDOF) has announced it will release its first quarter 2025 financial results on May 29, 2025, before market opening. The results will be available on SEDAR+ and the company's website. Management will host a conference call on the same day at 11:00 AM ET to discuss Q1 Financial and Operational results and company outlook. The presentation will be accessible on Cerrado's investor webpage. Participants can pre-register for the conference call online or dial in directly using toll-free (1-833-752-3576) or international (1-647-846-8340) numbers.

Cerrado Gold (CRDOF) has successfully completed its acquisition of Ascendant Resources through a plan of arrangement, effective May 16, 2025. Under the deal terms, former Ascendant shareholders will receive 1/7.8th of a Cerrado common share for each Ascendant share. Cerrado issued 27,721,684 common shares, 4,903,822 replacement options, and 1,730,601 replacement warrants to Ascendant security holders. Following the transaction, Cerrado now has 132,753,478 common shares outstanding on an undiluted basis. Ascendant shares are expected to be delisted from the TSX around May 21, 2025. As part of the arrangement, Rui Santos, a seasoned mining sector legal expert, has joined Cerrado's board of directors.

Cerrado Gold reported its Q4 and annual 2024 financial results, achieving 54,494 Gold Equivalent Ounces (GEO) in annual production, aligning with guidance. The company posted Q4 Adjusted EBITDA of $4.5 million and $24.4 million for the full year.

Key highlights include receiving $34 million in asset sale and option payment proceeds in Q4, totaling $49 million for the full year, with up to $25 million due in coming years. The company significantly improved its working capital position by $54.5 million.

Q4 production reached 10,431 GEO, with AISC of $1,953, higher than Q4/23's $1,594 due to lower production and Argentine inflation. The company raised its 2025 production guidance to 55,000-60,000 GEO, with AISC expected between $1,500-$1,700 per GEO. Cerrado's focus remains on ramping up heap leach production to 4,000-4,500 GEO monthly.

Cerrado Gold (CRDOF) reported Q1 2025 production of 11,163 Gold Equivalent Ounces (GEO) at its Minera Don Nicolas Mine in Argentina, showing improvement from 10,431 GEO in Q4. The company achieved record heap leach production of 7,228 GEO, with March production exceeding 2,800 GEO.

The company has increased its 2025 production guidance to 55,000-60,000 GEO (up from 50,000-55,000), with AISC costs projected at $1,500-$1,700 per GEO. Underground development at Paloma will commence in Q2 2025, with initial production expected in Q3 2025.

Key operational improvements include expanded crushing capacity installation at Calandrias Sur (completion in Q2 2025) and improved heap leach recoveries from 33% to 38%. The company continues progress on its Mont Sorcier iron project, with feasibility study completion targeted for Q1 2026.

Cerrado Gold (CRDOF) announces significant fiscal policy changes in Argentina, as the country prepares to remove capital controls ('el cepo') on April 14th. The International Monetary Fund (IMF) has approved a $20 billion loan program, with $12 billion available immediately to the central bank. Additional support includes $12 billion from the World Bank and $10 billion from the Inter-American Development Bank over three years.

The Argentine peso will be allowed to float within an initial range of 1,000-1,400 pesos per dollar, with a 1% monthly band expansion. Companies will be able to repatriate profits out of Argentina starting in 2025, while importing companies can make immediate payments for goods. These changes are expected to significantly enhance Cerrado's operations at their MDN mine and facilitate dividend payments out of the country.

Cerrado Gold (TSXV:CERT, OTCQX:CRDOF) has completed the final US$5 million payment for its Minera Don Nicolas (MDN) gold mine in Argentina, bringing the total acquisition cost to US$47 million. Since the 2020 acquisition, MDN's production has significantly increased from 22,000 to 55,000 ounces annually, with over 200,000 Gold Equivalent Ounces produced through 2024.

The Las Calandrias heap leach operation continues to perform well, with plans for underground operations at Paloma expected to begin in Q3 2025. The company is preparing an exploration campaign focused on mine life extension. Additionally, Cerrado anticipates closing the acquisition of Ascendant Resources Inc. around May 12, 2025, which includes the Lagoa Salgada Project in Portugal, with a construction decision expected by end of 2025.

Cerrado Gold (CRDOF) has announced positive metallurgical test results from its Mont Sorcier iron ore project in Quebec, confirming the ability to produce 67% High Purity, Direct Reduction Iron (DRI) grade concentrates. The latest phase of testing, conducted on a master composite, demonstrated enhanced economic magnetite iron recovery of 83%, with combined Silica and Alumina below 2.5%.

The project, located in Cree territory near Chibougamau, is progressing toward a feasibility study targeted for Q1 2026. The metallurgical testing, performed by SGS Canada and analyzed by Soutex Inc., shows promising results for producing high-purity iron concentrate suitable for DRI grade classification. Industry forecasts predict DRI grade concentrate demand to grow at a CAGR of over 9.0% annually for the next decade.

The process involves magnetic separation, regrinding, hydroseparation, and reverse iron flotation stages, resulting in a concentrate grading 67% iron with 1.8% silica. Additional variability testing of 18 samples and a 3-tonne bulk sample processing are currently ongoing to support equipment design for the feasibility study.