Business
Cerrado Gold Significantly Increases Grades and Throughput in the Second Quarter to Report Highest Gold Production Levels at the Minera Don Nicolas Mine Since Cerrado's Acquisition
MDN Mine posts first quarterly operating profit ahead of management target with strong sec...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Significantly Increases Grades and Throughput in the Second Quarter to Report Highest Gold Production Levels at the Minera Don Nicolas Mine Since Cerrado's AcquisitionMDN Mine posts first quarterly operating profit ahead of management target with strong second half anticipatedMDC reports updated PEA with NPV5 US$617 million with 94% IRRToronto, Ontario--(Newsfile Corp. - August 30, 2021) - Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) (\"Cerrado\" or the \"Company\") is pleased to announce its operational and financial results for the second quarter of 2021 (\"Q2/21\"). The financial results are reported and available on SEDAR as well as on the company website (www.cerradogold.com). (All numbers reported in US dollars)Q2 2021 Minera Don Nicolás (\"MDN\") Production Highlights:Highest quarterly gold production at MDN since Cerrado acquisitionRecord gold production of 9,607 ounces, 28% higher than previous high of 7,485 ounces in Q1 2021Average gold head grade of 2.97 g/t; a record high and a 15% improvement over Q1 20215th consecutive quarter of throughput improvement since Cerrado acquisitionMine operating margin of $2.0 million and operating cash flows of $2.0 million in the second quarterMDN on track for strong 2nd half of 2021Corporate HighlightsAnnounced the appointment of Casper Groenewald as Chief Operating Officer and Kurt Menchen as President and Country Manager of Brazilian operationsCommenced trading on the OTCQX under the symbol \"CRDOF\" Mark Brennan, CEO and Co-Chairman stated: \"We are very pleased to report much improved second quarter results of operations at Minera Don Nicolás, which continue to exceed management expectations. The results demonstrate the tremendous effort of the team at MDN. The second quarter saw the company achieve record quarterly production since the acquisition by Cerrado, as well as record throughput rates and head grade.\"He continued, \"As a result, the Company recorded $2 million in both mine operating margin and operating cash flow during the second quarter. This performance has been in spite of severe COVID-19 restrictions which continue to impose significant interruption to optimizing production and costs. We look to continue to build upon the successful second quarter results to achieve aggressive production objectives for the second half of 2021.\" \"In addit...