Cerrado ramps up gold production in Argentina
The company said that Q1 2021 production was 45% higher compared to Q4 2020 (5,168 ounces) and that monthly gold production has continuously increased since Cerrado acquired Minera Don Nicolas, highlighted with 3,150 ounces produced in March 2021, an 18% improvement from management expectations.
Cerrado added that Minera Don Nicolas has undergone significant continuous operational improvements implemented since the acquisition of the mine just a year ago (March 2020). The company has seen substantial increases in grade, throughput and recoveries at the mill while seeing a significant reduction in the AISC and cash cost and is well positioned to generate robust operating results and strong free cash flow for the foreseeable future.
Total gold production at MDN in 2020 since its acquisition by Cerrado was 16,545 ounces with silver production of 36,780 ounces. The company pointed out that it sees a clear path to significant production growth and strong free cash flow generation.
Cerrado Gold is a public gold producer and exploration company with gold production derived from its 100% owned Minera Don Nicolás mine in Santa Cruz province, Argentina. It also owns 100% of the assets of Minera Mariana in Santa Cruz province, Argentina. The company is also undertaking exploration at its 100% owned Monte Do Carmo project located in Tocantins, Brazil.