on Cerrado Gold Inc. (isin : CA1567881018)
Cerrado Gold Reports Strong Q4 Financials and 2023 Performance at Minera Don Nicolas
Cerrado Gold Inc. (TSXV: CERT; OTCQX: CRDOF) released its Q4 and full-year 2023 results, highlighting the production and financial performance at its Minera Don Nicolas (MDN) project in Argentina. The company announced that it produced 52,230 Gold Equivalent Ounces (GEO) for the year, with Q4 alone contributing 15,744 GEO.
Despite delays in ramping up production due to commissioning issues, the company reported significant improvements, with production exceeding 17,000 ounces in March, April, and May 2024. Cerrado's annual adjusted EBITDA stood at $13.8 million, and the All-in Sustaining Cost (AISC) was $1,427 per ounce for 2023.
The company successfully stabilized operations and appointed Santiago Abbruzzini as Senior Accountant at MDN. Future plans focus on maintaining production rates, reducing debt, and evaluating a shift to solely heap leach operations. Exploration efforts aim to extend mine life and develop underground resources.
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