Cerrado Gold Inc. (TSXV: CERT) expects to deliver its Feasibility Study (FS) for its Monte do Carmo (MDC) gold project in Tocantins State, Brazil, by the end of May.
The operational team, in conjunction with independent engineering firms SRK and GE21, have completed or are at near completion of all disciplines required to deliver a Feasibility Study by the end of May. Additional work streams to incorporate the underground mining are well-advanced.
The move to underground mining in the later part of the current mine life is expected to significantly reduce the amount of waste stripping required and lower the overall operating costs of the mine. The Company continues to expect a robust FS following the successful PEA delivered in August 2021.
Cerrado has also moved to strengthen its in-country development, construction, and operations team in anticipation of commencing construction activities later this year. Further, the Company anticipates it should be granted the Preliminary Licence (LP) around the end of April, with the construction license (LI) expected to be issued in Q3/2023. Regional exploration activities are also underway to further define known exploration targets and identify new potential resource opportunities to continue expanding the overall resource base at Monte do Carmo.
Cerrado has also announced it has appointed SD Capital Advisory Limited and GKB Ventures Limited (S&G) to structure and arrange Export Credit Agency (ECA) supported project finance for the development of the Company’s Monte do Carmo Project. In addition, the company provides S&G with a right of first refusal to act as a financial advisor for further debt capital transactions with respect to projects held by the Company for the duration of this mandate.
For further information please visit: https://www.cerradogold.com/
