Cerrado Gold Stock Price, News & Analysis

Cerrado Gold (OTCQX:CRDOF) reported Q2 2025 production of 11,437 Gold Equivalent Ounces (GEO) from its Minera Don Nicolas Mine in Argentina, showing a slight increase from Q1's 11,163 GEO. The company maintains its 2025 production guidance of 55,000-60,000 GEO, with production weighted towards H2 2025.

Key developments include the commencement of underground mining at Paloma with three access portals, expanded heap leach crushing circuit capacity, and a 20,000m exploration program. The company is also progressing with feasibility studies for its Lagoa Salgada and Mont Sorcier projects, expected by Q3/2025 and Q1/2026 respectively.

The Mont Sorcier iron project's previous PEA indicated an NPV8% of US$1.6 Billion, with potential for high-purity DRI grade iron ore concentrate exceeding 67% iron. The company expects to receive future payments of US$25 million from asset sales through 2027.

Cerrado Gold (CRDOF) has received approval from the Portuguese Environment Agency (APA) to revise its Environmental Impact Statement (EIA) for the Lagoa Salgada Project under Article 16 procedures. This allows the company to address environmental concerns without restarting the full permitting process.

The company has 180 days to submit revised project elements, including significant environmental improvements such as the elimination of cyanide use, enhanced aquifer protection, and implementation of real-time environmental monitoring systems. These modifications are being incorporated into the ongoing Optimized Feasibility Study (OFS), expected in September.

If the revised submission is accepted, a final EIA decision could be issued in Q1 2026. The project has strong support from EDM, Portugal's state-owned mining development entity, which considers Lagoa Salgada strategically important for Portugal's mining sector.

Cerrado Gold (OTCQX:CRDOF) held its Annual and Special Meeting of Shareholders with strong approval across all presented matters. A total of 30,873,502 common shares were voted, representing 23.26% of all outstanding shares.

All seven director nominees were successfully elected with over 98.8% approval rates. McGovern Hurley LLP was appointed as auditor with 99.16% of votes in favor. The Amended and Restated Omnibus Incentive Plan was approved by disinterested shareholders with 96.40% support.

Cerrado Gold (CRDOF) has initiated underground operations at its Minera Don Nicolas Mine in Argentina, marking a significant operational expansion. The company completed the initial blast for the underground portal construction, with production expected to begin in June and reach steady state by October 2025. The underground development will initially focus on the high-grade Paloma pit area. Simultaneously, Cerrado has launched a 20,000-metre exploration drill program, targeting near-surface, high-grade deposits for the CIL plant and expanding resources around the Las Calandrias heap leach project. The company now operates through three production methods: open pit, heap leach, and underground operations, diversifying its mining capabilities.

Cerrado Gold (CRDOF) has appointed Alonso Lujan as Vice President Exploration, effective June 1, 2025. Lujan brings over 34 years of international mineral exploration experience with significant achievements in resource discovery and production expansion. At Sierra Metals, he led mineral resource expansion adding 25M oz silver and 300M lbs copper. At Matsa-Trafigura, he discovered 50M tonnes of additional mineral resources and doubled production from 2.2M to 4.6M tonnes yearly, increasing operation value from $300M to $1.6B. His expertise will be crucial for Cerrado's 20,000-metre drill program at Minera Don Nicolas and the development of the Lagoa Salgada VMS project.

Cerrado Gold has appointed Ed Guimaraes as Executive Vice President, effective June 1, 2025. Guimaraes brings over 30 years of mining industry experience, including significant roles as CFO at Sierra Metals (2014-2023) and Executive VP Finance & CFO at Aur Resources (1995-2007). His expertise spans base and precious metals operations across North and South America, notably contributing to Aur Resources' US$4.1 billion acquisition by Teck Resources. A Chartered Professional Accountant with ICD-Rotman certification, Guimaraes will support Cerrado's growth initiatives, particularly the Minera Don Nicolas gold mine expansion and advancement of the Lagoa Salgada VMS and Mont Sorcier Iron Ore Projects.

Cerrado Gold (CRDOF) reported its Q1 2025 financial results, with gold equivalent production of 11,163 GEO and Adjusted EBITDA of $4.8 million. The company maintained its full-year guidance of 55,000-60,000 GEO. Q1 highlights include a record heap leach production of 6,897 GEO and revenue of $28.8 million from selling 10,992 ounces of gold at an average price of $2,520/oz. The company reported a net loss of $4.2 million, an improvement from $7.3 million loss in Q1 2024. Cash balance remained strong at over $20 million while AISC was $1,932/oz. The company expects unit costs to decline to $1,500-1,700 as production increases. Cerrado has expanded its crushing capacity and initiated underground operations, with production expected to begin in Q3. The company also extended its hedging program with Ocean Partners UK Ltd, covering 2,000 ounces monthly from May to December 2025 with price boundaries of $3,100-$3,250 per ounce.

Cerrado Gold (CRDOF) has announced it will release its first quarter 2025 financial results on May 29, 2025, before market opening. The results will be available on SEDAR+ and the company's website. Management will host a conference call on the same day at 11:00 AM ET to discuss Q1 Financial and Operational results and company outlook. The presentation will be accessible on Cerrado's investor webpage. Participants can pre-register for the conference call online or dial in directly using toll-free (1-833-752-3576) or international (1-647-846-8340) numbers.

Cerrado Gold (CRDOF) has successfully completed its acquisition of Ascendant Resources through a plan of arrangement, effective May 16, 2025. Under the deal terms, former Ascendant shareholders will receive 1/7.8th of a Cerrado common share for each Ascendant share. Cerrado issued 27,721,684 common shares, 4,903,822 replacement options, and 1,730,601 replacement warrants to Ascendant security holders. Following the transaction, Cerrado now has 132,753,478 common shares outstanding on an undiluted basis. Ascendant shares are expected to be delisted from the TSX around May 21, 2025. As part of the arrangement, Rui Santos, a seasoned mining sector legal expert, has joined Cerrado's board of directors.