Q2 2026 Production Highlights
Cerrado Gold Inc. (TSX-V: CERT, OTCQX: CRDOF) presented second-quarter 2026 results on August 19, 2026, highlighting a 35% surge in gold-equivalent production alongside rising operating costs. The company's production jumped to 15,415 ounces, up from 11,437 ounces in the same period last year.
The production increase came from two sources: heap leach operations delivered 9,981 GEOs as irrigation issues subsided, while the carbon-in-leach (CIL) plant contributed 5,434 GEOs.
Financial Summary
Cerrado generated $28.2 million in adjusted EBITDA during the quarter, benefiting from elevated gold prices and its unhedged sales position. Net income from operations reached $9.2 million in the second quarter, a substantial improvement from $1.2 million in the year-ago period. Revenue totaled $64.56 million, while the company reported earnings of $0.07 per share.
Development Projects
The company's diversified portfolio strategy is advancing two major development projects: the Lagoa Salgada VMS project in Portugal and the Mont Sorcier iron ore project in Quebec. Production from the San Nicolas gold mine in Argentina is funding the advancement of these projects.
At Lagoa Salgada, the company continued navigating permitting obstacles related to its Environmental Impact Assessment submission. The company secured an interim injunction temporarily suspending the effects of an unfavorable opinion regarding the EIA, but ongoing legal proceedings have delayed completion of the Optimized Feasibility Study.
At Mont Sorcier, work continues on the Bankable Feasibility Study for the high-grade iron ore project. The company identified opportunities to optimize project economics and reduce both capital and operating costs through several trade-off studies.
Cash Generation and Flexibility
Cerrado's strong cash generation left the company with $25.3 million in cash at quarter-end. The company's unhedged position allowed it to capture the full benefit of elevated gold prices during the quarter, generating EBITDA near record levels at $28.2 million.
Upcoming Projects
The company plans to complete a new Preliminary Economic Assessment and Mineral Resource Estimate in the first quarter of 2027, incorporating results from recent exploration and property acquisitions. Extensive optimization efforts continue with the goal of reducing unit costs and expanding production capabilities.
- mining
- exchanges
- q2 2026 results
- production growth
- development projects
- cash generation
- flexibility
- gold-equivalent production
- operating costs
- carbon-in-leach
- heap leach operations
- san nicolas gold mine
- lagoa salgada vms project
- mont sorcier iron ore project
