Cerrado Gold Reports Q1 2025 Financial Results

Cerrado Gold Inc. has announced its financial results for the first quarter of 2025. The company reported a production of 11,163 gold equivalent ounces (GEO) in Q1, maintaining its annual forecast of 55,000-60,000 GEO. Adjusted EBITDA for the quarter was $4.8 million, with a strong cash balance exceeding $20 million.

The Minera Don Nicolas (MDN) gold mine in Santa Cruz, Argentina, achieved a record heap leach production of 6,897 GEO. The newly expanded crusher is operational, boosting ore availability and potentially improving recovery rates. Underground development at MDN has begun, with production set for Q3 2025.

Financially, Cerrado generated $28.8 million in revenue, driven by higher gold prices and production levels. Costs per ounce decreased from $2,042 in Q1 2024 to $1,902 in Q1 2025. The net loss for Q1 reduced to $4.2 million from $7.3 million a year prior, aided by increased metal sales and decreased administrative expenses.

The company expanded its hedging program, securing cash flow stability for ongoing projects. This strategy, alongside robust operational results, positions Cerrado to continue advancing its development projects in Argentina, Quebec, and Portugal.