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Cerrado Gold Reports Strong Q1 Production from Its Minera Don Nicolas Mine in Argentina
Q1 production and operations well ahead of management budget Initiates public disclosure ...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Reports Strong Q1 Production from Its Minera Don Nicolas Mine in ArgentinaQ1 production and operations well ahead of management budgetInitiates public disclosure of quarterly production reports from the MDN MineToronto, Ontario--(Newsfile Corp. - May 3, 2021) - Cerrado Gold Inc. (TSXV: CERT) (\"Cerrado\" or the \"Company\") announces its production results for the first quarter of 2021 (\"Q1 2021\") from the Minera Don Nicolas Mine in Santa Cruz Province, Argentina. Financial results for the fourth quarter of 2020 (\"Q4 2020\") will also be reported and available on SEDAR as well as on the company website (www.cerradogold.com).Q1 Operating HighlightsGold production reported at 7,485 ounces for Q1 2021, a 45% improvement over Q4 2020 production of 5,168 gold ouncesMonthly gold production has continuously increased since Cerrado acquired Minera Don Nicolas, highlighted with 3,150 ounces produced in March 2021, an 18% improvement from management expectationsMinera Don Nicolas (\"MDN\") has undergone significant continuous operational improvements implemented since the acquisition of the mine just a year ago (March 2020). The Company has seen substantial increases in grade, throughput and recoveries at the mill while seeing a significant reduction in the AISC and Cash Cost and is well positioned to generate robust operating results and strong free cash flow for the foreseeable future.Mark Brennan, CEO and Co-Chairman, commented, \"While production is still modest and in the ramp-up mode, we see a clear path to significant production growth and strong free cash flow generation. We are thrilled with the strong operational enhancements that we have achieved in a very challenging COVID environment. This includes the commencement of the first exploration drill program on the property in the last 5 years.\" He continued, \"Weekly improvements encourage us to believe that we will achieve our production expectations of 45,000 - 55,000 oz Au annually while lowering total expected cash costs for the full year 2021 to $900/oz Au and AISC to approximately $1,100/oz Au. We note that gold production in the first quarter alone of 7,485 oz Au exceeds 40% of total gold production during Cerrado's ownership in 2020. The support of the local government and our unions along with the exceptional workforce has enabled the operation...