Cerrado Gold Inc (TSE:CERT) has released an update.
Cerrado Gold Inc. has received a second US$1 million advance from Hochschild Mining PLC’s subsidiary as part of a US$15 million signing loan agreement related to the potential US$60 million sale of its Monte Do Carmo project in Brazil. The funds alleviate immediate capital needs in Argentina and contribute to the company’s debt reduction efforts. With US$8 million already advanced, the remaining US$7 million is expected upon upcoming shareholder approval for the transaction.
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