Cerrado Gold Posts Record 2025 EBITDA as Minera Don Nicolas Ramps Up Underground Output

The latest update is out from Cerrado Gold ( (TSE:CERT) ).

Cerrado Gold reported 2025 annual production of 50,238 gold equivalent ounces at its Minera Don Nicolas mine, delivering adjusted EBITDA of US$46.1 million and maintaining all-in sustaining costs in line with guidance despite inflation and water-related constraints. The company ended the year with US$22.1 million in cash and expects 2026 output of 50,000 to 60,000 gold equivalent ounces, underpinned by a ramp-up in underground mining, operational optimizations, and continued exploration that could materially expand its low-cost production profile.

Management highlighted that record quarterly and annual adjusted EBITDA was driven by stable costs and stronger gold prices, while a completed hedging program leaves the company fully exposed to future upside in bullion markets. With ongoing work on a bankable feasibility study at Mont Sorcier and advancing the Lagoa Salgada project, Cerrado is leveraging cash flow from Minera Don Nicolas to strengthen its financial position and potentially enhance long-term growth across its portfolio.

The most recent analyst rating on (TSE:CERT) stock is a Buy with a C$3.30 price target. To see the full list of analyst forecasts on Cerrado Gold stock, see the TSE:CERT Stock Forecast page.

More about Cerrado Gold

Cerrado Gold Inc. is a precious and base metals company focused on gold and iron ore assets across the Americas and Europe. Its key operations include the Minera Don Nicolas gold project in Argentina, the Lagoa Salgada VMS project in Portugal, and the Mont Sorcier high-purity DRI iron project in Quebec, positioning the company as a diversified metals producer with both production and development-stage assets.

Average Trading Volume: 593,369

Technical Sentiment Signal: Buy

Current Market Cap: C$222M

Learn more about CERT stock on TipRanks’ Stock Analysis page.