Cerrado Gold (CERT) Small cap showcase Conference summary

Operational highlights

• Achieving production of 55,000–60,000 oz gold in 2026, with guidance at the upper end due to higher-grade underground material.

• Significant drilling (75,000 m) completed to extend mine life, with updated feasibility and resource studies expected in Q1 2027.

• All-in sustaining costs for gold production are $1,700–$1,800/oz, with strong cash flow and no hedging or streaming agreements.

• Argentina project is a brownfield operation, currently mining at 160–170 m depth, with resource open at depth and along strike.

• Workforce consists of 350 employees operating on a two-shift, seven-day schedule.

Growth and development plans

• Portugal project (Lagoa Salgada) feasibility update due late 2026, with permitting expected by Q2 2027 and construction to start by late 2027.

• First production from Portugal targeted for late Q1 or early Q2 2029, with a 14-year mine life and significant expansion potential.

• Quebec iron ore project feasibility study due Q1–Q2 2027, permitting to take two years, with construction starting in 2029 and production by 2031.

• Quebec project features high-purity 67% iron ore, expected to generate $250M+ annual free cash flow and a 20-year mine life.

• By 2031, total gold equivalent production is projected to exceed 300,000 oz annually.

Financial performance and outlook

• EBITDA for 2026 expected to exceed $100 million, with gross revenue projected over $500 million and free cash flow of $200–$250 million.

• Cash balance at $25 million, with additional $15 million receivable from asset sales; cash position expected to grow toward $100 million in 2027.

• Market cap is CAD 331 million, with 143 million shares outstanding and 160 million fully diluted.

• Management and institutions hold 33% of shares, with significant retail and high-net-worth ownership.

• Trading volume averages 500,000 shares daily; stock price closely tracks gold price movements.