Business
Cerrado Gold Announces Q4 And Annual 2024 Financial Results
Annual production of 54,494 Gold Equivalent Ounces ("GEO"); in-line with guidance Adjusted...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Announces Q4 And Annual 2024 Financial ResultsAnnual production of 54,494 Gold Equivalent Ounces (\"GEO\"); in-line with guidanceAdjusted EBITDA of $4.5 million for Q4, and $24.4 million for the full year excluding project sales proceeds from sale of Monte Do CarmoReceived $34 million in Asset sale and Option payment proceeds in Q4: Received $49 million for the full year with up to $25 million ($15 million guaranteed) due in the coming years.Continued strengthening of the Balance sheet with a US$54.5 million improvement in the working capital position achievedManagement to host a Conference Call to discuss the financial and operational results on May 1st, 2025, at 11:00 AM EDT TORONTO, ON / ACCESS Newswire / May 1, 2025 / Cerrado Gold Inc. [TSX.V:CERT][OTCQX:CRDOF; FRA:BAI0] (\"Cerrado\" or the \"Company\") announces its operational and financial results for the fourth quarter (\"Q4/24\") including its Minera Don Nicolas (\"MDN\") gold project in Santa Cruz Province, Argentina and its Mont Sorcier High Purity DRI Iron Project in Quebec.Production results for MDN were previously released on January 15, 2025. The Company's financial results are reported and available on SEDAR+ (www.sedarplus.com) and the Company's website (www.cerradogold.com).Q4/24 and Annual MDN Operating HighlightsProduction of 10,431 GEO in Q4 and Annual production of 54,494 GEOAdjusted EBITDA of $4.5 million in Q4 and US$24.4 million for the year excluding assets sales and Option payment proceeds.Received $34 million in Asset sale and Option payment proceeds in Q4: Received $49 million for the full year with up to $25 million ($15 million guaranteed) due in the coming years.AISC of $1,953 during Q4 vs $1,594 in Q4/23 due to lower production levels and ongoing inflationary pressures in ArgentinaReceived Asset Sale and Option payments totaling $34 MM during the quarter, significantly strengthening the balance sheet.Focus remains on ramping up heap leach production to 4,000 - 4,500 GEO per monthOperational results for the fourth quarter demonstrated a decrease in production relative to Q4/23 as high-grade ore to the CIL plant declined as mining from the Calandrias Norte pit was completed, and as the operation transitioned to focus on heap leach production. Ore from the Calandrias Norte open pit was exhausted late in the quarter and is now being repl...