Cerrado Gold Inc. (TSX.V: CERT | OTCQX: CRDOF) has released its operational and financial results for the first quarter of 2022 Q1. 2022 represents the second quarter of mine operations post completion of restructuring at Cerrado’s Minera Don Nicolas Mine in Argentina.
Highlights of the financial and operational results include Cerrado’s Minera Don Nicolas Mine producing a total of 13,007oz of gold in Q1 2022 (13,499 Gold Equivalent Ounces), a 74% improvement compared to the first quarter of 2021.
The second consecutive quarter of gold production was reportedly more than 50,000oz per annum with an average gold head grade of 4.68 g/t, which also represents a significant 81% increase as compared to the average head grade of 2.59 g/t recorded in the first quarter of 2021. The cash cost of US$850 and AISC of US$1,123 per gold ounce sold and Cerrado ended Q1 with a strong operating margin of US$9.2M with operating cash flows of US$8.8M.
Mark Brennan, CEO and Co-Chairman stated: “We are very pleased with the consistent production the team are delivering at MDN. The strong cashflows we are now generating in Argentina will support our planned expansion to a 90,000oz per annum production rate within the next two years. Combined with the development of the Monte do Carmo project in Brazil, Cerrado continues its quest of becoming an intermediate gold producer in the near term.”
For further information please visit: https://www.cerradogold.com/
