Cerrado Gold Stock Price, News & Analysis

Cerrado Gold Inc. has released final assay results from its 2022 drill program at the Serra Alta deposit, Monte do Carmo Project in Brazil. Notable results include drill hole FSA-290 with 15m at 5.79 Au g/t and FSA-314 with 17m at 2.87 g/t Au. The drill program comprised 193 holes totaling 48,842 meters, aimed at upgrading resources and supporting an ongoing Feasibility Study. The company has also initiated a 2023 exploration campaign, with the first hole, FNE-01, showing visible gold 500m northeast of known mineralization. The updated resource estimates are expected in Q2 2023.

Cerrado Gold Inc. (OTCQX: CRDOF) has appointed Clinton Swemmer as Chief Technical Officer, reflecting his vital contributions to the company's mining operations in Argentina and Brazil. Swemmer, with over 20 years of experience, previously served as Vice President of Technical Services. Alongside, Erich Meintjes joins as Director of Engineering to bolster engineering efforts for ongoing projects. The company aims to reduce project timelines and costs by enhancing internal capabilities. Cerrado continues advancing its gold projects, including the Minera Don Nicolás mine and the Monte do Carmo project, which boasts indicated resources of 541 kozs of gold.

Cerrado Gold announced the completion of a 48,842m drilling program at its Monte do Carmo Project in Brazil, expected to enhance resources for an upcoming Feasibility Study slated for completion by May 2023. The infill drilling program successfully upgraded the majority of resources into Measured and Indicated categories, while new extensional zones and condemned areas were identified. The company is also preparing a 23,000m exploration program targeting potential new deposits. Notable drill results include 11m at 5.39 g/t Au and 25m at 19.01 g/t Au, showcasing the area's rich mineralization. Full assay results are anticipated in February.

Cerrado Gold Inc. (OTCQX: CRDOF) announced Q4 2022 production results from its Minera Don Nicolas Mine, reporting 17,360 Gold Equivalent Ounces (GEO), a 54% increase compared to Q3 2022. Full-year production reached 53,672 GEO, surpassing guidance of 45-55,000 GEO. Gold head grades improved significantly to 5.83 g/t, and recoveries rose to 94.9%. For 2023, production is guided at 60,000 - 70,000 GEO with an AISC of US$1,100-1,300 per ounce. Construction of the Las Calandrias heap leach is on track for a first gold pour in late Q2 2023. The company continues to focus on growth initiatives at the mine.

Cerrado Gold has announced the latest results from its infill drilling program at the Serra Alta deposit in Brazil's Monte do Carmo Project. Significant assays include FSA-276 yielding 30m at 4.47 g/t Au and FSA-298 with 26m at 1.31 g/t Au, including 1m at 14.15 g/t Au. The ongoing program, aimed at upgrading resource classifications and exploring new mineralized areas, is expected to conclude by December 2022, with a feasibility study to follow in Q2 2023. CEO Mark Brennan expressed optimism about identifying potential extensions and low-cost production opportunities.

Cerrado Gold Inc. (OTCQX:CRDOF) announced strong operational results from its Minera Don Nicolas mine, producing approximately 15,000 oz of gold in Q4 2022 and exceeding 50,000 oz for the full year. Heap leach construction at Las Calandrias has commenced, targeting first gold pour in April 2023. The Monte Do Carmo Feasibility Study is slightly delayed to incorporate new discoveries, but remains on track to establish one of the lowest cost gold producers. Key milestones for the Serra Alta deposit include a new mineral resource estimate expected in Q1 2023.

Cerrado Gold has announced an additional US$4 million in unsecured promissory notes, bringing the total financing to US$8 million. The funds will support development at the Calandrias Heap Leach Project in Argentina, with the first gold pour targeted for April 2023. The notes carry a range of interest rates, with some maturing as soon as late 2023 and early 2024. The company plans to repay these notes through cash flows or further financing, aiming to facilitate the project's rapid development.

Cerrado Gold Inc. (OTCQX: CRDOF) reported its Q3 2022 results, producing 11,284 Gold Equivalent Ounces. The AISC rose to $1,494 per ounce, influenced by increased stripping and labor costs, but is expected to decrease in Q4. Adjusted EBITDA stood at $0.7 million, reflecting higher operational costs. Revenue for Q3 was $17.8 million, down from Q2's $20.3 million, attributed to lower gold prices. The company received a permit for heap leach construction at the Calandrias Project as it continues exploration efforts in Brazil.

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.