Cerrado Gold reports net loss of $7.4M in Q1, expects feasibility study results for Monte Do Carmo in June

- Cerrado Gold reported today that its Minera Don Nicolas gold mine in Argentina produced 13,951 gold equivalent ounces in Q1 2023, a 3% improvement year-on-year due to higher recoveries.

Cash costs per ounce sold were $1,139 per ounce in Q1 2023, as compared to cash costs per ounce sold of $1,049 per ounce in Q1 2022, which is a 9% increase y-o-y due to higher consumables and material costs compared to the first quarter of 2022. Cerrado also reported net loss of $7.4 million in Q1 2023, as compared to a $3.4 million net income for the three months ended March 31, 2022, a difference of $10 million.

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