Cerrado Gold Inc. (TSXV: CERT | OTCQX: CRDOF) has announced its operational and financial results for the Q4 2022, and year-end 2022, at its Minera Don Nicolas gold project in Santa Cruz Province, Argentina, and for its exploration activities at the Monte Do Carmo gold project in Brazil.
Mark Brennan, CEO and co-chairman, stated: “We are very pleased to see another solid year at our MDN operations translating into strong cashflow generation and lower AISC. With production from our initial heap leach project at Las Calandrias on schedule to begin in June, we expect to deliver further production and cost improvement in 2023.”
Cerrado’s Q4 2022 Minera Don Nicolas operational highlights were strong, and include gold production of 17,360 GEO, which as a 13% improvement year-on-year.
Furthermore, a strong operating margin of C$7.6M and operating cash flows of C$8.4M in the fourth quarter were reported. Finally, AISC of C$1,015/oz during Q4 was also recorded.
As for the full-year 2022 Minera Don Nicolas operational highlights, they include an annual 2022 gold production of 53,672 GEO, which was a 23% improvement y-o-y (43,559oz 2021). A strong annual operating margin of C$19.5M and operating cash flows of C$15.2M was reported. A full-year adjusted EBITDA of C$20.7M was highlighted, meaning a 76% increase year-on-year. Finally, an annual AISC of C$1,231/oz was recorded, at the lower end of guidance.
“In addition, feasibility study work at Monte Do Carmo continues positively and is expected to be completed by the end of May 2023. We expect the feasibility to highlight the robust growth profile we plan for Cerrado in the coming years to over 200,000oz of production per annum.” Mark continued.
To find out more, please visit www.cerradogold.com
