Amarillo Gold completed the acquisition of Monte do Carmo Project from Cerrado Gold for $60m.

Amarillo Gold, an emerging gold developer focused on Brazil, completed the acquisition of Monte do Carmo Project from Cerrado Gold, a Toronto-based gold production, development, and exploration company, for $60m. “The Proposed Transaction improves Cerrado’s immediate short-term capital position and addresses short-term working capital needs while injecting development capital into the Minera Don Nicolas project. Going forward, Cerrado will be well capitalized with a strong gold production profile and leaves the Company positioned to pursue growth programs at our operating Minera Don Nicolas gold mine and our Mont Sorcier high grade iron project,” Mark Brennan, Cerrado Gold CEO and Chairman.