Cerrado Gold Provides an Update on Fiscal Policy Changes in Argentina Including Removal of Currency Controls on April 14th
TORONTO, ON / ACCESS Newswire / April 14, 2025 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ('Cerrado' or the 'Company') is pleased to provide an update on recent fiscal policy changes that are underway in Argentina which should ease the overall flow of capital into and out of Argentina. It should be noted that not all the details of the new policy are fully available at this time.
On Friday, April 11 the IMF approved a new $20 Billion loan program for Argentina with $12 billion set to be available to the central bank this week. This new agreement has been sought by President Milei's government since taking office to reopen the country to foreign investments. Access to the IMF funds is set to bolster the Central Bank's foreign reserves as the country looks to defend against inflation as it aims to remove all Capital Controls in the near future. As part of the plan to remove controls, the Central Bank will eliminate most exchange restrictions on flows, unifying all current account flows, debt payments, foreign investment, and the accumulation of assets by individuals into a single foreign exchange market. As the initial step the government will remove this week the crawling peg that has for years artificially limited the peso's weakening. Instead, the Argentine currency will be allowed to trade freely within an initial range of 1,000 pesos to 1,400 pesos per dollar. On Friday, the peso traded at 1,097 to the dollar at the official rate, and at 1,375 at the unofficial 'blue dollar' rate. The band will expand 1% each month.
As part of this phase of removing all Capital Control on Friday, the government announced companies will be able to repatriate profits out of the country as of 2025, subject to some restrictions and the use of the differential exchange rates or 'dollar blend' used by exporters will be eliminated and the deadlines for the payment of foreign trade operations are to be relaxed. This is expected to attract new investment into Argentina. Funds from prior to 2025 will need to exchange the debt for dollar-denominated security bonds. Individual Argentines will also be able to legally exchange pesos for dollars without a US$200-monthly limit.
Along with the opening of the foreign exchange market, modifications were also introduced for foreign trade operators. From April 14, importing companies will be able to pay immediately for goods arriving in the country, eliminating the need to wait weeks or months as was the case with the previous system. This flexibility will be applied without distinction of products. The new scheme also impacts the payment of services acquired abroad, such as streaming platforms, online training or consultancies. According to the provisions, if the service provider does not have a corporate relationship with the buyer, payment may be made from the first day of use.
Mark Brennan, CEO and Chairman commented, 'After years of significant inflation and restrictions on capital flows, the removal of currency controls is expected to significantly enhance our ability to operate in Argentina more effectively. In addition, as the success of this new policy unfolds, we expect the attractiveness of Argentina for resource investment will grow given the significant resource endowment in the country.'
About Cerrado
Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The Company is the 100% owner of both the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Canada, Cerrado Gold is developing it's 100% owned Mont Sorcier Iron Ore and Vanadium project located outside of Chibougamou, Quebec.
In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias Heap Leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.
In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium project, which has the potential to produce a premium iron ore concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high-grade and high-purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of SDG goals.
For more information about Cerrado please visit our website at: www.cerradogold.com.
Mark Brennan
CEO and Chairman
Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
[email protected]
Disclaimer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains statements that constitute 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado, production forecasts and estimated ASIC for 2025 and beyond, the potential for additional crushing capacity that may be added and the performance of the heap leach pad, the possibility of commencing underground mining, the potential to produce iron concentrate grading in excess of 67% at Mont Sorcier, further deleveraging during 2025, receipt of the deferred closing payment of US$15 million in connection with the asset sale and the likelihood of the Michelle option being exercised and the related option payment being received. In making the forward- looking statements contained in this press release, Cerrado has made certain assumptions. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
SOURCE: Cerrado Gold Inc.
press release
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
2 hours ago
- Bloomberg
Hungary Nominates Palotai as Central Bank Deputy Governor
Hungary nominated Daniel Palotai to become the fourth deputy governor of the central bank, a position created this month after Parliament passed an overhaul of the institution's leadership. A parliamentary committee hearing will be held on Monday to confirm the nominee, put forth by Prime Minister Viktor Orban. The fourth deputy governor will be tasked with issues relating to developments in international economy in a unified portfolio, Governor Mihaly Varga said in May.
Business Insider
10 hours ago
- Business Insider
Grab your cooler, pack the car: The road trip calls this summer as gas prices fall and economic fears linger
Country roads, take me to vacation. The open road is a preferable getaway this summer for Americans who discovered a love for road trips during the pandemic, are feeling economic uncertainty, or want to take advantage of tumbling gas prices. Road trips also offer a degree of certainty — you won't find yourself abroad as tariffs or border policies change, or the latest flight chaos strikes. James Willamor, 45, is setting out on a 4,500-mile road trip to kick off summer. It's become a passion for him; he estimates he spends between 30 and 40 nights a year camping on both short and long trips. Depending on the length of the trip and gas prices, he spends an estimated $500 to $800 on gas, and he tries to optimize by always using a points credit card and other gas rewards programs. He also plans out meals where he can and carries a small portable refrigerator filled with meats, cheeses, fruits, and vegetables. His favorite part of hitting the road is watching the landscape gradually change, going from rivers to rolling hills to mountains. "It's a lot different than in times when I've flown somewhere and you get on the plane and you get off and you're in a totally different biome," he said. "But spending three or four days driving across and seeing the gradual change is probably my favorite part." Cheaper gas and more driving this summer Already, record numbers of Americans hit the road for the first big vacation weekend of the year, per AAA. It projected that over 1 million more Americans would be traveling by car Memorial Day Weekend compared to last year — an increase from 38.2 million auto travelers in 2024 to 39.4 million this year. The urge to stay domestic seems like it'll continue through the Fourth of July: Airbnb said that bookings within 300 miles of vacationers' origin spots are up 32% over the Fourth of July weekend compared to 2024. Enterprise Mobility, whose brands include Enterprise Rent-A-Car, National Car Rental, and Alamo, told BI that the company is seeing a year-over-year increase in expected leisure travel from their non-airport locations in both June and July — what Enterprise deemed a signal of customers leaning into road trips this summer. "People are continuing to prioritize travel, and our research shows an increased interest in road trips this summer," Bridget Long, senior vice president of North American operations at Enterprise Mobility, said in a statement. At the same time, gas prices have come down from 2022-era highs, making it more affordable to hit the road. Lillian Rafson, CEO of travel agency Pack Up + Go, which plans US-based surprise vacations — where destinations are unknown and travelers give an overview of what they're interested in — said that the last few months have seen a surge of interest in road trip packages, compared to last year. Already, 47% of vacations booked through the agency in June were road trips, compared to 27% last year. Rafson said that during times of perceived economic uncertainty, more travelers opt for her firm's minimum budget bookings rather than their more expensive offerings. She said that during last November's election season, minimum-cost bookings surged; that happened yet again in April and May. "Anecdotally, our team mentioned that we've had a few trips cancelled due to layoffs or fear of layoffs, but not a statistically significant number," Rafson said. "Overall, I think people are quietly opting for a lower-budget road trip instead of a major summer trip. But they're still traveling! Just slightly differently." Saying no to flying For some, flying might not be worth it right now, given recent stories of safety and timing concerns. "Right now, I live very close to Newark Airport, and the craziest delays are happening with the air traffic control and stuff — I mean, that alone is making people iffy about traveling," Dan Pieraccini, an avid domestic traveler and road tripper based in New Jersey, said. Some travelers are opting for road trips just because they want to; Scott Reing, 37, is planning a 2,500-mile-long road trip for his family to the Grand Canyon to commemorate his wedding anniversary. His family alternates between bigger vacations abroad and domestic trips to national parks. This year happened to be a national parks year. In theory, he said, some of the appeal of the domestic trip this time around is price, although the cost will still be hefty with the amount of time they're spending on the road. "You kind of have more control over what you're spending when you're doing a road trip versus going to an all-inclusive or going on a cruise or flying abroad," Reing said. "You really have the choice to stay in a motel or a campsite one night or two nights or 10 nights versus something else." Even so, Reing said he isn't broadly rethinking travel or travel spending; next year, he could end up somewhere abroad, like Japan. Indeed, many Americans are still opting for European or international travel this summer, with some powering through uncertainties and deciding it's worth it. But the road is still calling. Cathy Keibler, a 65-year-old retiree in Indiana, is eagerly planning her first major road trip across the country. She wants to see the country, but has no desire to fly anymore. She and her husband have a new Prius, so they're not too concerned about gas expenses and are planning to bring a cooler to mitigate food costs. Keibler also wants to get a closer view of what's happening in her own country; with unrest and uncertainty, a road trip offers an opportunity to see firsthand how that's reflected in different corners of the nation. "Part of the more idealistic reason for making this road trip is to maybe try to get in touch a little bit with really what's happening out there in the country in a way that we can't really do when we're just driving on the interstates and maybe pulling over at a McDonald's," she said.
Time Business News
13 hours ago
- Time Business News
YourSecret: The Upcoming Anonymous Social Platform That May Redefine Digital Privacy and Online Expression
By Time Business News Contributor In a digital economy dominated by surveillance capitalism and identity-driven engagement, a new platform is preparing to challenge the status quo. Slated for release in fall 2025, YourSecret positions itself as a privacy-first, anonymous social space aimed at reshaping the way we share, speak, and connect online. Recently unveiled through AccessNewswire, the YourSecret platform is already attracting attention from tech analysts, investors, and privacy advocates alike — for its bold promise: no names, no likes, no algorithms, and no tracking. 'No real identities. No pressure to perform. Just raw expression,' the founding team writes. 'We believe people communicate most authentically when no one is watching.' At its core, YourSecret revives the ethos of early internet culture — message boards, confessional blogs, and pseudonymous creativity — but does so with a refined, mobile-first UX and a forward-looking tech stack. No personal logins or phone verification Anonymous publishing and interaction A chronological feed without algorithmic curation End-to-end moderation and AI-based behavioral filters (details to be revealed pre-launch) Minimalist web and mobile app experience YourSecret is expected to allow users to post thoughts, stories, observations, or questions without revealing anything about their identity. There will be no follower counts, vanity metrics, or reputation systems — creating a horizontal space where content matters more than profile aesthetics. In the wake of growing global debates about digital rights, platform ethics, and data exploitation, user demand is shifting. A significant segment of Gen Z and Millennials — two of the most overexposed generations online — are showing increased interest in 'digital quiet zones': spaces that prioritize safety, authenticity, and privacy over virality and monetization. YourSecret is not the only player in the anonymous space. However, its zero-data policy, combined with planned AI-enhanced community tools, may give it an edge over older anonymous platforms that often struggled with content quality or safety. Unlike the majority of social networks that rely on ad revenue and user profiling, Your Secret hints at alternative monetization models. The platform has not disclosed its full strategy, but early indicators suggest possibilities such as: Freemium subscriptions Tipping systems for content creators Community-supported funding (crowdfunding or tokenized models) This approach aligns with broader ethical tech movements that reject the commodification of user behavior in favor of long-term trust and transparency. For investors, marketers, and digital entrepreneurs, YourSecret may represent more than just another app — it could signal the next evolutionary phase of online interaction: from performance to presence, from exposure to intimacy, from branding to being. If it succeeds in building a sustainable, moderated, and user-centric community, Your Secret may emerge as a blueprint for what the next generation of social networks will look like — decentralized in spirit, human in tone, and radically private by design. The official launch is expected in Q4 2025, with both mobile and web versions planned for simultaneous release. While funding and partnership details remain undisclosed, early buzz suggests that YourSecret has ambitions beyond just niche appeal. We will continue monitoring the rollout of YourSecret and how it resonates with a digital public increasingly hungry for safer, quieter, and more honest online environments. accessnewswire/Secret/Your Secret/ TIME BUSINESS NEWS
