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ERD 6.16 −1.4% NFG 2.37 +2.2% CLM 0.060 +0.0% GEMG 1.64 +0.0% STGO 1.56 +2.6% WEX 0.580 −3.3% NOBL 0.120 +9.1% LGO 1.00 −3.9% SSE 0.095 +0.0% AAZ 0.040 +0.0% MNRG 0.095 +11.8% RME 0.260 +30.0% NUAG 9.48 +1.3% KRN 0.300 +11.1% EON 0.020 −nan% EMO 0.420 −1.2% ERD 6.16 −1.4% NFG 2.37 +2.2% CLM 0.060 +0.0% GEMG 1.64 +0.0% STGO 1.56 +2.6% WEX 0.580 −3.3% NOBL 0.120 +9.1% LGO 1.00 −3.9% SSE 0.095 +0.0% AAZ 0.040 +0.0% MNRG 0.095 +11.8% RME 0.260 +30.0% NUAG 9.48 +1.3% KRN 0.300 +11.1% EON 0.020 −nan% EMO 0.420 −1.2%
Drill Results

Cerrado Gold Announces Second Quarter 2025 Financial Results

By The Northwire Desk — AI Analysis Aug 21, 2025 · 18:50 CERT · 0.87 Cerrado Gold Inc.
CERT · Price

Executive Summary

  • Cerrado Gold reported Q2 2025 production of 11,437 gold‑equivalent ounces (GEO) at an AISC of $1,779/oz and Adjusted EBITDA of $7.4 M.
  • The company repaid approximately US$10 M of debt at the MDN mine during the quarter (US$18 M year‑to‑date) and continued a 20,000‑metre drill program to expand resources.
  • Full‑year GEO guidance of 55,000–60,000 ounces remains unchanged; AISC is expected to fall to $1,500–$1,700/oz in H2 2025 as underground production ramps and heap‑leach capacity increases.

Key Details

  • Production & Costs
  • Q2 2025 MDN output: 11,437 GEO; AISC $1,779/oz.
  • Record heap‑leach production: 7,864 GEO (quarter).

  • Underground development at Paloma started with three access portals; CIL plant now receiving initial underground feed.

  • Financial Performance

  • Adjusted EBITDA: $7.4 M (Q2 2025).
  • Revenue Q2 2025: $29.6 M from 10,301 oz Au and 56,839 oz Ag; average gold price $2,684/oz.
  • Net income (continuing + discontinued): $1.2 M vs. $1.0 M a year earlier.

  • Debt reduction: ~US$10 M paid down at MDN in Q2; total MDN debt/payables reduced by ~US$18 M YTD.

  • Exploration & Development

  • Initiated ~20,000 m drill program at MDN (DDH rig north of Paloma); new veins intersected, results pending.
  • Positive metallurgical test work at Lagoa Salgada to be incorporated into an Optimized Feasibility Study due year‑end.

  • Mont Sorcier DRI iron project advancing permitting and Feasibility Study targeted for Q1 2026; concentrate >67% Fe.

  • Acquisition Integration

  • Consolidated Ascendant Resources’ financials following May 16, 2025 acquisition, giving Cerrado an effective 80% interest in the Lagoa Salgada VMS project.

  • Guidance & Outlook

  • 2025 production guidance unchanged: 55,000–60,000 GEO.
  • Expected AISC decline to $1,500–$1,700/oz in H2 2025 as underground ore contributes and heap‑leach capacity expands.

  • Target heap‑leach feed rate: 4,000–4,500 GEO per month; additional crushing circuit upgrades (agglomerator, conveyors) slated for Q3 2025.

  • Hedging

  • Extended zero‑cost collar hedge with Ocean Partners UK Ltd.: $3,100–$3,250/oz floor/ceiling, 2,000 oz/month for 7 months (May–Dec 2025).

  • Conference Call

  • Management will discuss Q2 results on Monday, 25 August 2025 at 11:00 AM EDT.

Notable Quotes

“The results from the second quarter demonstrate a robust operation transitioning to deliver increased production in the second half of the year and beyond.” – Mark Brennan, CEO & Chairman

“Strong cash flow generated from operations combined with our cash balance has enabled us to pay down $10 M in debt at MDN during the second quarter…” – Mark Brennan, CEO & Chairman

Read the original news release →

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Earnings