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Cerrado Gold Inc. is a Toronto-based company focused on gold production, development, and exploration projects primarily in South America. The company's key assets include the producing Minera Don Nicolás and Las Calandrias mines in Argentina, as well as the Monte Do Carmo development project in Brazil. With a strategic focus on operational optimization, debt reduction, and resource expansion, Cerrado aims to unlock the full potential of its high-grade gold assets while advancing sustainability goals in the mining industry.
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Cerrado Gold Inc. announces Q3 production results from the Minera Don Nicolas Mine in Argentina. GEO production decreased compared to previous quarters due to severe winter conditions. The Las Calandrias heap leach project produced 650 ozs. The company's strategic plan is progressing well. CEO expects production rates to ramp up in Q4. Stripping at Calandrias Norte has commenced. Ore milled declined but has returned to normal rates. Ongoing work to optimize mine sequencing and exploration is a key focus. Monte Do Carmo project is progressing as planned with the Feasibility Study on schedule.
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Cerrado Gold Inc. has completed the tender process for its Export Credit Agency Supported Non-Recourse Project Financing. Two international banks have been chosen as Mandated Lead Arrangers for the Monte Do Carmo gold project in Brazil and the Mont Sorcier iron project in Quebec. The banks will provide financing for up to $190 million for the MDC Project and up to $420 million for the MS Project. The appointment of the MLAs is a significant milestone for the project financing requirements.
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Cerrado Gold Inc. has filed its License of Installation application for the Serra Alta project, anticipating it will be granted approximately three months later. The Feasibility Study for Serra Alta is on schedule for completion by October 31, 2023, with expectations of confirming the robust economics of the deposit.
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Cerrado Gold Inc. has commenced the tender phase for the Mandated Lead Arranger of its project financing program. The selection of the MLA is expected to be completed by the end of September. UKEF has expressed interest in providing support for up to US$190 million for the MDC Project and up to US$420 million for the MS Project. CEO Mark Brennan is optimistic about completing project financing in the coming months.
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Cerrado Gold reports Q2 production of 12,453 Gold Equivalent Ounces (GEO) with a 7% improvement year-on-year and AISC of $1,318 per ounce. Revenue for Q2 was $21.2 million, generated from the sale of 10,953 GEO. Cash costs per ounce sold decreased by 6% compared to Q2 2022. Adjusted EBITDA was $4.8 million, higher than Q2 2022. Net loss for Q2 2023 was $0.4 million, a decrease of $1.1 million from Q2 2022. Stock options and share units were granted to eligible participants.
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Cerrado Gold Inc. intends to file its License of Installation application for the Serra Alta deposit at the Monte Do Carmo project in early August. The company expects to be granted the Installation License approximately three months after filing. The Feasibility Study for the Serra Alta deposit has been postponed by three months due to material opportunities that require changes in scope. The updated completion is targeted for the end of October 2023.
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Cerrado Gold Inc. plans to file its License of Installation application for the Serra Alta deposit in August, with construction activities expected to begin three months later. The completion of the Feasibility Study for the project has been delayed by three months due to new opportunities that require changes in scope.
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Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) Announces Shareholder Approval at Annual Meeting
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Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) announces Q2 2023 production results of 12,453 Gold Equivalent Ounces from Minera Don Nicolas Mine in Argentina. The report highlights stable mill throughput, gold head grades of 4.84 g/t, and ongoing efforts to optimize mine sequencing and exploration work. Las Calandrias heap leach project is underway, with mining activities at full production level.
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FAQ
What is the current stock price of CERRADO GOLD (CRDOF)?
The current stock price of CERRADO GOLD (CRDOF) is $0.2643 as of November 22, 2024.
What is the market cap of CERRADO GOLD (CRDOF)?
The market cap of CERRADO GOLD (CRDOF) is approximately 27.7M.
What are Cerrado Gold Inc.'s primary operations?
Cerrado Gold Inc. focuses on gold production, development, and exploration projects primarily in South America, including the Minera Don Nicolás and Las Calandrias mines in Argentina.
What are the key assets of Cerrado Gold Inc.?
The company's key assets include the Minera Don Nicolás and Las Calandrias mines in Argentina, as well as the Monte Do Carmo development project in Brazil.
What is Cerrado Gold Inc.'s strategic focus?
Cerrado Gold Inc. aims to optimize operations, reduce debt, and expand resources while advancing sustainability goals in the mining industry.
How does Cerrado Gold Inc. contribute to sustainability in mining?
Cerrado Gold Inc. aims to contribute to sustainability in the mining industry by optimizing operations, reducing debt, and advancing resource expansion initiatives.
Where can I find more information about Cerrado Gold Inc.?
For more information about Cerrado Gold Inc., please visit the company's website at www.cerradogold.com.
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