Welcome to our dedicated page for Cerrado Gold news (Ticker: CRDOF), a resource for investors and traders seeking the latest updates and insights on Cerrado Gold stock.
Cerrado Gold Inc. reports news on a mining business centered on the Minera Don Nicolas gold mine in Santa Cruz Province, Argentina, and development-stage mineral projects in Canada and Portugal. Company updates commonly cover gold-equivalent production, operating and financial results, heap-leach and underground development at Minera Don Nicolas, and exploration across its Deseado Massif land package.
Recurring announcements also address the 100%-owned Mont Sorcier high-purity magnetite iron project in Quebec, the Lagoa Salgada polymetallic project in Portugal, capital-structure items such as incentive awards and receivables from asset sales, and board governance changes.
Cerrado Gold Inc. (OTCQX: CRDOF) announced a financing initiative involving US$10-12 million in promissory notes, starting with a US$2 million unsecured note from an Argentinian fund. The proceeds will support the ongoing development of the Calandrias Heap Leach Project in Argentina, with plans for the first gold pour targeted for April 2023. The initial promissory note has a maturity of 60 days and a 5% interest rate, with the possibility of rolling into a longer-term note.
Cerrado Gold Inc. (OTCQX: CRDOF) announced its Q3 2022 production results, yielding 11,284 GEO ounces of gold, a decline from 11,640 ounces in Q2. The average gold grade increased by 28% to 4.40g/t. The company reaffirms its annual production guidance of 45,000 - 55,000 GEO ounces for 2022, with Q4 production projected to exceed 13,000 ounces. Additionally, construction of the Calandrias heap leach project is set to begin in Q4, expected to boost annual production by 20,000-25,000 ounces.
Cerrado Gold has announced updates on its Las Calandrias heap leach project in Argentina, with first gold production expected in Q2 2023. This project aims to boost production rates to approximately 90,000 ounces per annum with an All In Sustaining Cost (AISC) below $1,000 per ounce by 2024. Key project milestones include completed engineering work, advanced permitting, and a budget of around $25 million for development. The heap leach facility is designed for a capacity of 2 million tonnes per annum and aims for a recovery rate of 67% from Oxide and Transitional material.
Cerrado Gold reported promising results from its Gogó da Onça exploration project in Brazil, indicating over 250m of shallow mineralization. Notable drill results include:
- FGO-004: 25.1m at 3.38 g/t Au
- FGO-005: 2.7m at 12.74 g/t Au
- FGO-008: 12.5m at 3.39 g/t Au
- FGO-012: 11.7m at 5.37 g/t Au
The ongoing infill drilling aims to integrate these findings into the Feasibility Study scheduled for Q1 2023.
Cerrado Gold announced notable drilling results from its Serra Alta deposit within the Monte do Carmo Project in Brazil as of September 20, 2022. The infill drilling campaign aims to upgrade resources and support a feasibility study expected by Q1 2023. Highlighted results include 42m at 1.88 g/t Au and 18m at 7.21 g/t Au from drill hole FSA-246, among others. The program has so far completed 130 drill holes totaling 31,815m, with five rigs actively drilling. The company also granted stock options and share units to directors and executives.
Cerrado Gold announced record Q3 results from its Minera Don Nicolás mine in Argentina. CEO Mark Brennan discussed these results, emphasizing production achievements. In a separate update, Element 29 Resources shared initial drilling outcomes from its Elida Copper Project. Chairman Richard Osmond provided insights into the first two drill holes of a six-hole program, highlighting the project's potential. The Power Play by The Market Herald delivers timely information to investors through exclusive executive interviews.