Cerrado Gold Reports Q2 Financial Performance and Operational Updates

Cerrado Gold Inc. has released its financial and operational results for Q2 2024. Key highlights include producing 16,255 gold equivalent ounces (GEO) and achieving an adjusted EBITDA of $14.7 million. The company's Minera Don Nicolas (MDN) project in Argentina demonstrated stable operational performance, which is anticipated to continue for the rest of the year.

The recent NI 43-101 Mineral Resource update and Preliminary Economic Assessment (PEA) for MDN show an after-tax NPV of $111 million at a gold price of $2,100 per ounce over a five-year mine life. These figures underscore the cash-generating potential of the operation.

During the quarter, Cerrado enhanced its working capital through higher gold prices and strong production. This improvement in financial health is bolstered by proceeds from the sale of an option on the Monte Do Carmo project in Brazil. CEO Mark Brennan emphasized ongoing stability and robust outlooks for the remainder of the year.

Additional operational advancements include enhancements in the heap leach processing and an increase in crushing capacity at the Calandrias Sur Heap Leach. These improvements are pivotal in sustaining higher production rates.

Overall, Cerrado continues to focus on operational efficiency, cost reduction, and debt reduction, positioning itself for continued financial and operational strength.