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Cerrado Gold Announces Q2 Financials, Cashflow and Operating Cost Performance at Its Minera Don Nicolas Mine in Argentina
Gold equivalent production of 16,255 GEO for Q2; On track for Full year guidance of 50,000-60,000...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Announces Q2 Financials, Cashflow and Operating Cost Performance at Its Minera Don Nicolas Mine in ArgentinaGold equivalent production of 16,255 GEO for Q2; On track for Full year guidance of 50,000-60,0000 GEOAdjusted EBITDA of $14.7 million for Q2Operating results for Q2 highlight stable operating performance which is expected for the remainder of the yearRecent 43-101 Mineral Resource Update and Preliminary Economic Assessment Completed for MDN showing an NPV5% of $111MM at $2,100 oz gold price over a 5 year mine life TORONTO, ON / ACCESSWIRE / August 29, 2024 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) announces its operational and financial results for the second quarter (\"Q2/24\") at its Minera Don Nicolas (\"MDN\") gold project in Santa Cruz Province, Argentina and at its Mont Sorcier Iron Project in Quebec.Production results for MDN were previously released on July 17, 2024. The Company's financial results are reported and available on SEDAR as well as on the Company's website (www.cerradogold.com).Q2/24 Operating HighlightsQ2/24 production of 16,255 Gold Equivalent Ounces (\"GEO\").Q2/24 Adjusted EBITDA of $14.7 millionAISC of $1,233 during Q2; Focus on cost reduction initiatives underwayFocus remains on delivering cashflow and strengthening the balance sheet with significant progress made towards debt reduction during the quarter.Operational results presented for Q2/24 show a marked improvement over the previous quarter as the full exploitation of the Calandrias Norte high-grade open pit was achieved in addition to the continued ramp up of the heap leach operations. Production results for June included a modest decline due to harsh weather conditions where heavy snow impacted the transportation of high-grade ore to the mill and reduced mill throughput. The performance of the Heap leach during the quarter continued to improve despite the harsh weather and bodes well for the ramp-up to full commercial production. Performance of the crushing circuit at the Calandrias Sur Heap Leach continues to improve, allowing the placement of more ore on the heap leach pad during the quarter, which is key to delivering higher sustained production rates. Additional crushing capacity is being added via the addition of a secondary mobile crushing unit that has recently been delivered to the site and is set to double crushin...