Business
Cerrado Gold Achieves Record Gold Production, Head Grades and Operating Margins at Its Minera Don Nicolas Mine in the Third Quarter
MDN completes restructuring phase in Q3 and moves to "normalized" operations with optimized ...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Achieves Record Gold Production, Head Grades and Operating Margins at Its Minera Don Nicolas Mine in the Third QuarterMDN completes restructuring phase in Q3 and moves to \"normalized\" operations with optimized operating metrics expected in Q4Toronto, Ontario--(Newsfile Corp. - November 25, 2021) - Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) (\"Cerrado\" or the \"Company\") is pleased to announce its operational and financial results for the third quarter of 2021 (\"Q3/21\"). The third quarter represents the final quarter of restructuring of operations at its Minera Don Nicolás (\"MDN\") Mine in Santa Cruz Province, Argentina, with the stage set for substantially improved results from operations in Q4. The financial results are reported and available on SEDAR as well as on the Company's website (www.cerradogold.com).(All numbers reported in US dollars)Q3 2021 Minera Don Nicolás (\"MDN\") Operational Highlights:Another consecutive quarter of record gold production of 10,168 ounces, 6% higher than the previous high of 9,607 ouncesAn all-time high for average gold head grade of 3.57 g/t and a 20% improvement over Q2 2021Strong operating margin of $3.5 million and operating cash flows of $2.3 million in the third quarterCash Cost per ounce sold of $1,075, a 12% improvement over Q2 2021 and the fourth consecutive quarter of improvementAISC of $1,382/oz, a record low since the Cerrado acquisition and the fourth consecutive quarter of improvement Mark Brennan, CEO and Co-Chairman stated: \"It has been extremely gratifying to see the strong performance delivered by Cerrado's Argentinian team in the third quarter. Our restructuring program implemented post acquisition of MDN continues to bear fruit as demonstrated by our successful Q3 results. The Company is now positioned well to deliver consistent and strong results going into Q4 and we fully expect to see continued improvement in all key operating and financial metrics.\" Corporate HighlightsAnnounced the appointment of Clinton Swemmer as Vice President, Technical Services and David Ball as Vice President, Business Development.Third Quarter 2021 Operational and Financial PerformanceKey Operating InformationTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/7487/105193_capture.jpgThe Company produced 10,168 ounces o...