Cerrado Gold Reports 2024 Financial Results and Strategic Focus

Cerrado Gold Inc. has released its financial results for Q4 and the annual period of 2024, reporting an annual production of 54,494 Gold Equivalent Ounces (GEO), aligned with expectations. Adjusted EBITDA reached $4.5 million in Q4 and totaled $24.4 million for the year, excluding proceeds from asset sales. The company received $34 million in asset sales and option payments in Q4, enhancing its balance sheet significantly.

The Minera Don Nicolas (MDN) project in Argentina faced production decreases due to reduced ore grades and inflationary pressures. Nevertheless, Cerrado aims to ramp up heap leach production to 4,000 - 4,500 GEO monthly. Additionally, strategic expansion plans include underground mining and exploration at MDN, while advancing the Mont Sorcier Iron Project in Quebec. CEO Mark Brennan highlighted the company's debt reduction and strategic capital deployment as critical drivers for 2025, projecting a transformative year ahead.

The working capital saw a $54.5 million improvement amid operational challenges, contributing to Cerrado's robust financial position as of December 2024. The company has also set higher production guidance for 2025, with potential cost increases anticipated due to continued inflation in Argentina and operational adjustments.