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Cerrado Gold Announces Q2 Gold Production Results for Its Minera Don Nicolas Mine in Argentina
Q2 Production of 16,255 Gold Equivalent Ounces ("GEO") vs 11,204 GEO in Q1, 2024. High-Gra...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Announces Q2 Gold Production Results for Its Minera Don Nicolas Mine in ArgentinaQ2 Production of 16,255 Gold Equivalent Ounces (\"GEO\") vs 11,204 GEO in Q1, 2024.High-Grade ore from Calandrias Norte and continued ramp-up at Heap leach operations are supporting strong quarterly production.MDN 43-101 Preliminary Economic Assessment and Updated Mineral Resource Estimate are expected to be announced shortly.Balance sheet continues to improve, with approximately US$10m in current liabilities repaid since Year End 2023.Significant cost reductions have also been made to reduce corporate expenses substantially.TORONTO, ON / ACCESSWIRE / July 17, 2024 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) (\"Cerrado\" or the \"Company\") announces production results for the second quarter of 2024 (\"Q2 2024\") from the Minera Don Nicolas Mine in Santa Cruz Province, Argentina (\"MDN\"). Full second quarter financial results are expected to be released in August 2024.Q2 Operating HighlightsQ2 2024 production of 16,255 GEO vs 11,204 GEO in Q1, 2024.Production for April of 6,641 GEO, May 5,486 GEO and June of 4,128 GEO (harsh winter conditions).Ramp-up of production from the Las Calandrias heap leap project continues, producing 421 GEO in April and ramping up to 943 GEO for June despite harsh winter weather conditions.Focus remains on delivering cashflow and rebuilding the balance sheet with significant progress made towards debt reduction during the quarter.Operational results presented for Q2 2024 showed 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 saw a modest decline due to harsh weather conditions which saw the closure of most roads in Santa Cruz and the closure of Comodoro Rivadavia airport for several days. Heavy snow impacted the transportation of high-grade ore to the mill and reduced mill throughput. That said, this material is expected to be processed in the coming months, supporting production levels going forward. The performance of the Heap leach during this period continues to improve despite the harsh weather and bodes well for the ramp-up to full commercial production, which we expect to occur in Q3/2024 as the weather improves. Performance of...