on Cerrado Gold Inc. (isin : CA1567881018)
Cerrado Gold Reports Q2 Gold Production Results
Cerrado Gold Inc. has announced production figures for Q2 2024 from its Minera Don Nicolas (MDN) mine in Argentina. The company produced 16,255 Gold Equivalent Ounces (GEO), a significant increase from 11,204 GEO in Q1 2024.
High-grade ore from Calandrias Norte and ongoing heap leach operations have bolstered quarterly production. Despite harsh winter conditions impacting operations in June, the company anticipates stable production as weather conditions improve.
Cerrado Gold also reported a substantial reduction in current liabilities, with approximately US$10 million repaid since the end of 2023. Operating costs have been decreased, enhancing profitability. The company's financial health continues to strengthen due to high gold prices and reduced corporate expenses.
CEO Mark Brennan highlighted strong production despite challenging weather and reiterated the company's commitment to reducing debt and fortifying the balance sheet. Full Q2 financial results are expected in August 2024.
R. P.
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