Cerrado Gold increases gold production, records 3Q loss
Cerrado Gold (TSXV: CERT) said today it had record gold production of 10,168 ounces, 6% higher than the previous high of 9,607 ounces.
The company operates the Minera Don Nicolás mine in Santa Cruz province, Argentina.
The company generated revenue of $17.9 million for the three months ended September 30, 2021, from the sale of 9,648 ounces of gold and 25,836 ounces of silver at an average realized price per gold ounce sold of $1,795.
However, the company had a net loss of $1.4 million. A general and administrative expense increase of $0.8 million and an increase of other expense by $1.0 million cut Cerrado's margin.