The Fort Worth Press - Cerrado Gold Makes Final Payment for the Acquisition of Its Minera Don Nicolas Gold Mine in Santa Cruz, Argentina

USD -
AED 3.672502
AFN 64.999704
ALL 83.057413
AMD 376.723149
ANG 1.790083
AOA 916.999503
ARS 1396.494
AUD 1.44327
AWG 1.8
AZN 1.699594
BAM 1.69304
BBD 2.014508
BDT 123.424515
BGN 1.709309
BHD 0.377522
BIF 2972.407972
BMD 1
BND 1.284685
BOB 6.911148
BRL 5.167101
BSD 1.000156
BTN 92.971499
BWP 13.648423
BYN 2.940456
BYR 19600
BZD 2.011556
CAD 1.39188
CDF 2299.999752
CHF 0.800915
CLF 0.023333
CLP 921.340043
CNY 6.882602
CNH 6.866515
COP 3685.97
CRC 463.980887
CUC 1
CUP 26.5
CVE 95.451004
CZK 21.19515
DJF 178.103833
DKK 6.46062
DOP 60.75899
DZD 132.885732
EGP 54.690898
ERN 15
ETB 156.169264
EUR 0.86459
FJD 2.2377
FKP 0.755657
GBP 0.755315
GEL 2.679909
GGP 0.755657
GHS 11.011708
GIP 0.755657
GMD 73.498309
GNF 8774.238227
GTQ 7.651356
GYD 209.257937
HKD 7.836625
HNL 26.559037
HRK 6.509102
HTG 131.129376
HUF 331.021986
IDR 17077
ILS 3.14351
IMP 0.755657
INR 92.94435
IQD 1310.249307
IRR 1315800.000324
ISK 124.319755
JEP 0.755657
JMD 157.444598
JOD 0.708973
JPY 160.013022
KES 130.050298
KGS 87.450354
KHR 4007.877253
KMF 426.999915
KPW 900.002378
KRW 1504.510346
KWD 0.30976
KYD 0.833517
KZT 464.77526
LAK 22065.831332
LBP 89565.672785
LKR 315.609053
LRD 184.033413
LSL 16.901489
LTL 2.95274
LVL 0.60489
LYD 6.392832
MAD 9.379069
MDL 17.473652
MGA 4177.541172
MKD 53.266914
MMK 2100.11256
MNT 3573.311532
MOP 8.072021
MRU 39.748096
MUR 47.019757
MVR 15.450013
MWK 1734.294185
MXN 17.785797
MYR 4.030939
MZN 63.959737
NAD 16.901489
NGN 1383.250382
NIO 36.807479
NOK 9.68575
NPR 148.754572
NZD 1.75612
OMR 0.384496
PAB 1.000143
PEN 3.425727
PGK 4.390582
PHP 60.207016
PKR 281.202974
PLN 3.700045
PYG 6485.457064
QAR 3.656667
RON 4.405701
RSD 101.468985
RUB 78.540819
RWF 1460.927525
SAR 3.755036
SBD 8.04524
SCR 15.078826
SDG 600.999645
SEK 9.542973
SGD 1.285235
SHP 0.750259
SLE 24.602749
SLL 20969.510825
SOS 571.576966
SRD 37.350984
STD 20697.981008
STN 21.208082
SVC 8.751731
SYP 110.704564
SZL 16.89758
THB 32.689679
TJS 9.516761
TMT 3.5
TND 2.94356
TOP 2.40776
TRY 44.612802
TTD 6.786733
TWD 31.99301
TZS 2600.000175
UAH 43.466672
UGX 3756.059557
UYU 40.563702
UZS 12202.216066
VES 473.4672
VND 26334
VUV 119.244946
WST 2.76629
XAF 567.817525
XAG 0.014172
XAU 0.000216
XCD 2.70255
XCG 1.802639
XDR 0.706253
XOF 567.827355
XPF 103.237535
YER 238.592558
ZAR 16.95105
ZMK 9001.194963
ZMW 19.378741
ZWL 321.999592
  • RBGPF

    -13.5000

    69

    -19.57%

  • RYCEF

    0.2500

    15.75

    +1.59%

  • CMSC

    -0.1400

    22.04

    -0.64%

  • JRI

    -0.0900

    12.64

    -0.71%

  • BCC

    0.8050

    74.555

    +1.08%

  • NGG

    0.2400

    87.3

    +0.27%

  • BCE

    -0.2750

    23.985

    -1.15%

  • VOD

    0.0850

    15.225

    +0.56%

  • RIO

    0.2600

    94.27

    +0.28%

  • RELX

    -0.1680

    33.442

    -0.5%

  • GSK

    -0.7550

    55.615

    -1.36%

  • AZN

    -3.2350

    199.595

    -1.62%

  • BTI

    0.0400

    58.75

    +0.07%

  • CMSD

    -0.0650

    22.285

    -0.29%

  • BP

    -0.2450

    47.235

    -0.52%

Cerrado Gold Makes Final Payment for the Acquisition of Its Minera Don Nicolas Gold Mine in Santa Cruz, Argentina
Cerrado Gold Makes Final Payment for the Acquisition of Its Minera Don Nicolas Gold Mine in Santa Cruz, Argentina

Cerrado Gold Makes Final Payment for the Acquisition of Its Minera Don Nicolas Gold Mine in Santa Cruz, Argentina

  • US$5 million payment completes balance of the purchase price for MDN

  • MDN purchase price consideration totals US$47 million

  • Over ~200,000 Gold Equivalent Ounces ("GEO's") produced at MDN since its acquisition in 2020 to year end 2024

Text size:

TORONTO, ONTARIO / ACCESS Newswire / April 1, 2025 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") has paid the final US$5 million instalment of the purchase price to the vendors of the Minera Don Nicolas ("MDN") gold mine in Argentina (see news release dated March 17, 2020). In aggregate, the purchase price for the acquisition of MDN totalled US$47 million.

Mark Brennan, Chairman & CEO commented: "We are very pleased to have satisfied the payment terms for the acquisition of MDN. MDN's growing production along with record high gold prices continues to support the deleveraging of Cerrado's balance sheet and building a healthy financial position. MDN's cashflow generation will enable Cerrado to pursue a rigorous exploration program to expand its resources. We are convinced that MDN continues to be at the early stages of its development cycle, and we are optimistic that MDN has the potential to rival the long established operations on the Deseado Massif."

Since closing the acquisition of MDN in April 2020, Cerrado has significantly grown the production profile from approximately 22,000 ounces to 55,000 ounces per annum and has produced more than 200,000 cumulative GEO's to year end 2024 with All-In Sustaining Costs in-line or below many of the larger operations in the Deseado Massif. Las Calandrias, MDN's Heap Leach operation continues to perform well, and is anticipated to further support Cerrado's production base through the development of an underground operation at Paloma anticipated to begin production in Q3 2025. The Company is currently preparing a robust exploration campaign for the balance of the year, targeting mine life extension from open-pit, underground and heap leach resource expansion.

Assuming the completion of the acquisition of Ascendant Resources Inc., which is anticipated to close on or about May 12, 2025, and is subject to certain closing conditions, the Company's healthy financial position is expected to support development of the Lagoa Salgada Project in Portugal which anticipates a construction decision by the end of 2025.

IR Services and Marketing Agreement

The Company has entered into an engagement with The Korelin Economics Report (the "KE Report") for strategic marketing and investor relations services to raise Cerrado's investor profile.

The KE Report will assist with investor awareness as a third-party content creator through podcasts, management interviews and news amplification through their platform and YouTube channel as well as and investor presentations. The KE Report engagement is for a term of 6 months with the opportunity to extend based on a successful outcome for a fee of C$15,000 for the six-month term.

No bonus fees or stock options will be paid to any of the Consultants. The KE Report is arm's length to the Company.

About Cerrado

Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The Company is the 100% owner of both the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Canada, Cerrado Gold is developing it's 100% owned Mont Sorcier Iron Ore and Vanadium project located outside of Chibougamou, Quebec.

In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias Heap Leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.

In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium project, which has the potential to produce a premium iron ore concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high grade and high purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of SDG goals.

For more information about Cerrado please visit our website at: www.cerradogold.com.

Mark Brennan
CEO and Chairman

Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
[email protected]

Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado, the anticipated closing of the acquisition of Ascendant Resources Inc., the Company's cash position and anticipated future cash flows and debt levels, the production rate and costs at MDN, the exploration potential and mine life at MDN, and the potential impact of the KE Report in raising investor awareness of the Company. In making the forward- looking statements contained in this press release, Cerrado has made certain assumptions. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

SOURCE: Cerrado Gold Inc.



View the original press release on ACCESS Newswire

M.Delgado--TFWP