Cerrado Gold announced the gold production results for the fourth quarter and full year of 2024 for the Don Nicolás mine, located in the Santa Cruz province.
By Panorama Minero
• Annual Gold Equivalent Ounce ("GEO") Production of 54,494 GEO; in line with Guidance of 50,000 - 60,000 GEO.
• Q4 Production of 10,431 GEO impacted by lower than planned ore grades from residual open pits.
• Record Production of 5,956, GEO from Heap Leach operations during the quarter.
• 2025 Production Guidance of between 50,000-55,000 GEO.
Highlights of Q4
• Q4 Production of 10,431 GEO vs 16,604 GEO in Q3.
• Annual Sales of 51,694 GEO for 2024
• Production impacted by lower than planned feed grade to the CIL plant during the quarter as mining of high-grade pits nears completion.
• Studies to commence underground operations at Paloma in H2/25 initiated during the quarter.
• Focus remains on ramping up crushing capacity at Calandrias Sur and bringing heap leach production up to 4,000- 4,500 GEO per month by March 2025.
Regarding corporate activities, Cerrado Gold announced that its wholly owned subsidiary, Minera Don Nicolas S.A. (“MDN”) entered into an option agreement with Cerro Vanguardia S.A. ("CVSA") a wholly-owned subsidiary of AngloGold Ashanti Holdings Plc, whereby MDN granted to CVSA the option to purchase a 100% interest in the Michelle properties located in the south region of MDN's Minera Don Nicolas Project, for total consideration of the Argentina peso equivalent of US$14 million.
