Cerrado Gold Declared Robust Gold Output in Q2 This Year

The notable reduction in corporate overheads is expected to improve the company’s overall profitability for the future.

SEATTLE (Scrap Monster): Cerrado Gold announced Q2 gold production results for its Minera Don Nicolas Mine in Argentina. The company boosted Q2 gold production during the quarter, while achieving major cost cuts.

According to company press release, the gold production at the Argentine mine touched 16,225 gold equivalent ounces. This is in comparison with 11,204 gold equivalent ounces during the initial quarter of 2024. The production gains were mainly on account of the high-grade ore from Calandrias Norte and the ramp-up of its heap leach operations, the press release noted.

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Also, the company delivered substantial cost reductions, thus making significant progress towards debt reduction during the quarter. The notable reduction in corporate overheads is expected to improve the company’s overall profitability for the future.

Mark Brennan, CEO and Chairman, Cerrado Gold noted that the new new heap leach facility maintained production despite the wet conditions. The June 2024 production results reported modest decline due to harsh weather conditions. Meantime, the production levels are expected to remain around the current level in Q3. The company will continue to execute its plan to further reduce debt levels and strengthen the balance sheet, he added.

Cerrado Gold will release the full second quarter financial results in August.

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