Cerrado Closes Transaction With Hochschild Subsidiary For Sale of Monte Do Carmo Gold Project
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Cerrado Gold Inc. has completed the sale of its Monte Do Carmo gold project in Brazil to Amarillo Mineração do Brasil Ltda., a subsidiary of Hochschild Mining PLC, for a total of $45 million, with $30 million received upfront and $15 million in future payments.
November 06, 2024 | 10:15 pm
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Cerrado Gold Inc. has sold its Monte Do Carmo project to a Hochschild subsidiary for $45 million, enhancing its cash position with $30 million upfront and $15 million in future payments.
The sale of the Monte Do Carmo project provides Cerrado Gold with significant immediate cash inflow and future payments, which can be used for other investments or debt reduction, likely boosting investor confidence and stock price in the short term.
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