Cerrado Announced Record Gold Production in Q2 2021
Mining News | 2021-08-31 12:32:08
In addition, the company continued to report exceptional results from its Monto Do Cormo project in Brazil.
By Paul Ploumis
SEATTLE (Scrap Monster): Toronto, Ontario-headquartered Cerrado Gold Inc. announced operational and financial results for the second quarter of 2021.
The company’s Minera Don Nicolas (MDN) mine in Santa Cruz, Argentina reported the highest quarterly gold production since the completion of acquisition by Cerrado in March last year. The gold production touched a new record of 9,607 ounces. This represents 28% improvement over the production which had totalled 7,485 ounces of gold in the first quarter of 2021. The mine is on track for a strong second half of 2021, said the company press release.
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The average gold head grade too has improved by 15% over the prior quarter. The mine reported operating margin of $2.0 million and operating cash flows of $2.0 million during the quarter. Cerrado Gold Inc. generated revenue of $17.9 million during the quarter. The robust performance was despite severe Covid-19 restrictions, which continued to have significant impacts on production and costs of operation.
In addition, the company continued to report exceptional results from its Monto Do Cormo project in Brazil.
Cerrado announced the appointment of Casper Groenewald as Chief Operating Officer and Kurt Menchen as President and Country Manager of Brazilian operations during the quarter.
