Cabral Gold Sells First 2,400+ Ounces as Commercial Production Nears - Crux Investor

AI desk brief

Cabral Gold has completed its first doré sale, selling more than 2,400 ounces at an average net realised price above US$4,200/oz as it moves toward commercial production in November. Management expects Phase 1 AISC of about US$1,200/oz from free-digging oxide ore, implying an estimated margin of roughly US$3,000/oz at the realized price; the company says it may also double throughput within about 12 months, with guidance due in one to two months.

The near-term re-rating catalysts are a year-end resource update covering six deposits, versus three in the 2022 resource, and a Phase 2 hard-rock PEA expected in 2027. Cabral is funded by a US$45 million gold loan and a C$45 million private placement, while management projects Phase 1 cash flow of roughly US$75 million to US$80 million in 2027, potentially doubling if throughput is expanded.