Cerrado Gold (TSE:CERT) has released an update.
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Cerrado Gold Inc. has reported a first quarter production of 11,204 Gold Equivalent Ounces at its Minera Don Nicolas mine in Argentina, with a notable increase in output during March, April, and May as operations stabilized. Despite a Q1 adjusted EBITDA loss of $3.0 million due to initial lower production and higher costs, the company anticipates improved working capital in Q2 following a shift to higher-grade ore and consistent production from the new Calandrias Norte deposit. These developments are expected to enhance the company’s financial health as it seeks to lift a cease trade order.
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