Fintech

Cerrado Gold Introduces Gold Production Growth Strategy and Provides Update from Its 2021 Exploration Program at Its Minera Don Nicolás Gold Project in Argentina

Published

3 years ago

February 9, 2022

Newsfile

Dual Stream Production Strategy to add lower grade stream to existing high-grade stream and expected to deliver production of approximately 70,000 ounces of gold (“oz Au”) per annum by Q1 2023 and increase gold production capacity up to 90,000 oz Au by late 2023

High grade material (cut-off grade of +1.6 grams per tonne gold; “g/t Au”) to be processed through current CIL plant anticipated to deliver 40,000-50,000 oz Au per annum
Lower grade material (cut-off grade of +0.3 g/t Au) to be processed via planned heap leach operations at both Calandrias and Martinetas expected to add approximately 40,000 oz Au of annual production capacity

Underground Potential Paloma Area:
- Deep drilling to commence at the southern edge of the Sulfuro Vein where a high-grade subvertical shoot has been delineated by historical drilling approximately 125 metres (“m”) below the current pit. Drilling in 2022 to target an additional 200m of down plunge extension.

2021 drilling has outlined numerous lower and high-grade resource targets to support the growth strategy
- Significant tonnage of lower grade material that was previously treated as waste identified to be heap leached (cut-off 0.3 g/t Au)

Toronto, Ontario–(Newsfile Corp. – February 9, 2022) – CERRADO GOLD (TSXV: CERT) (OTCQX: CRDOF) (“Cerrado” or the “Company”) is pleased to provide an update to its development strategy for gold production growth and to provide the remaining results of its 2021 near mine exploration drill program (12,578 m) at its Minera Don Nicolás (“MDN”) Project located in Santa Cruz province, Argentina.

Following recent drilling and a thorough review of the current resources and mine plan at MDN, Cerrado has commenced development plans that should substantially add to the production profile at its MDN operations through a Dual Stream Production Strategy to more fully exploit the entire resource potential. The Dual Stream Production Strategy will focus on processing high-grade material (cut-off 1.6 g/t Au) through the existing CIL plant and the development of heap leach facilities for processing of lower grade material (cut-off 0.3 g/t Au) that is currently treated as waste or stockpiled for future use.

Dual Stream Production Strategy

Previously, lower-grade material at Martinetas (e.g., Cerro Oro and Coyote) was either ignored, treated as waste or sent to a stockpile. Metallurgical test work to date (see press release dated September 1, 2021 for more details) suggests gold recoveries via heap leach operations can economically treat much of this material.

As the results of the recent drill program demonstrate, many high-grade areas have a significant halo and/or internal dilution zone of lower grade material that can now be viewed as ore moving forward. The high-grade stream will process ore through the existing CIL plant with an estimated annual production of 40,000 – 50,000 ounces of gold per annum.

In addition, the Company plans to develop two heap leach operations. The first, as outlined in the press release dated September 1, 2021, will focus on the Las Calandrias and Escondido deposits at the northern perimeter of the property. Production is expected to average approximately 25,000 ounces of gold commencing in Q1 2023 with an initial mine life, prior to additional exploration, of approximately four years. A second heap leach operation is to be developed in the Martinetas mining region to process lower grade material that is either currently being treated as waste or stored in a lower-grade stockpile. Cerrado believes this could be in operation by late 2023 adding a further potential of 15,000 – 20,000 ounces of gold per annum.

Deep Drilling/ Underground Exploration

As part of the plan to process only high-grade material through the CIL plant (cut-off 1.6 g/t Au), Cerrado’s drill plan for 2022 will include a strong focus on deeper targeting beyond the extent of current LOM pits. The first area of focus of the deep drilling will be the southern edge of the Sulfuro Vein (Paloma) where a high grade subvertical shoot has already been delineated with historic drilling approximately 125 m below the LOM pit. Drilling will target an additional 200m of down plunge extension.

The move towards underground mining is in keeping with the transitions undertaken at both MDN’s neighbouring mines – Yamana’s Cerro Morro operation and Anglo American’s Cerro Vanguardia mine. Based upon current resources in place, Cerrado’s exploration team believes it can readily outline potential resources in excess of 100,000 ounces of gold in underground mineralized material to act as an initial source of feed to the mill.

Current resources and future exploration plans are now being considered with this new production strategy in mind to best utilize the current and future resources at MDN. Future resource activity and updates will focus on outlining resources available to both production streams.

Mark Brennan, CEO & Co-Chairman, commented, “We are very excited to introduce this new development strategy that will maximize both resource and production growth at MDN. It has been a challenging yet very interesting period since Cerrado acquired the MDN Mine; the first phase was focused upon ramping up production and cash flows during a very intense COVID operating environment; which the team has very successfully achieved, and now as the next phase, we have a road map to develop what we believe will be the true potential for the MDN mine moving forward.”

He continued, “Exploration work to date has identified near mine, high-grade potential targets and has opened up additional lower-grade targets which can be quickly brought into the mine plan. The Dual Stream Production Strategy is expected to provide Cerrado with a platform for continued production growth, operational flexibility and extended mine life at MDN.”

2021 Exploration Drill Results

Diamond drill holes (“DDH”) from MDN’s exploration program were collared at the Baritina and Araña targets in the Paloma area (14 DDH, totalling 943 m); and at the M11 Mara, Gecko and Choique targets in the Martinetas area (47 DDH, totalling 4,709 m), see Figure 1. The focus of the 2021 near mine program has been to delineate new, high grade, mineralized zones and increase the confidence of near surface mineralization that have the potential to quickly be converted into mineable material. All targets are in the proximity of Cerrado’s current mining operations, La Paloma and Martinetas pits.

Drill Hole Highlights by target area (all composites are reported as true thickness):

Baritina

PA-D21-85

8.00 m at 1.67 g/t Au, from 46.30 m
- Including 3.60 m at 2.16 g/t Au from 48.00 m

PA-D21-86

14.62 m at 1.45 g/t Au, from 33.25 m
- Including 1m at 3.48 g/t Au from 54.60 m

PA-D21-88

3.28 m at 2.69 g/t Au, from 46.95 m

Mara/Armadillo

MA-D21-043

4.79 m at 1.21 g/t Au, from 58.40 m

Choique

CH-D21-049

1.90 m (apparent width) at 7.05 g/t Au, from 44.55 m
- Including 1.00 m (apparent width) at 13.29 g/t Au from 44.55 m

CH-D21-054

4.60 m at 1.43 g/t Au, from 19.60 m

Gecko

GK-D21-011

1.43 m at 2.85 g/t Au, from 52.50 m

Near Mine Drill Program at MDN

The 2021 exploration drill program at the Minera Don Nicolás Project totalled 12,578 m, commenced in February 2021, and was completed in September 2021. Assays were fully received in November 2021 and all the previously outstanding results are disclosed in this press release, (Table 1. and Figures 1. through 3.).

Figure 2. Plan View Paloma Area Reported Drill Results

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6185/113205_5d059b8954eb6b5a_003full.jpg

The diamond drill rig was subsequently mobilized to the Martinetas area where an additional 4,709 m of drilling was completed in September. The Martinetas area encompasses more than five square kilometres (“km²^“) of argillic altered rocks that reveal a large fertile epithermal center. Mineralization includes sheeted veins (e.g., Cerro Oro) and discrete veins (Armadillo) which occur in several sectors within the large argillic footprint. Cerrado’s strategy at Martinetas has been to systematically explore targets identified within the argillic envelope focussing on permissive structural trends and possible continuities from the known and mined centers (e.g., Choique Southeast).

Drilling priorities considered the proximity of the different targets in relation to the current operations. Lateral step outs of known mineralized centers including Cerro Oro, Choique, Armadillo and Mara were identified as areas that contain shallow mineralization amenable to open pit mining and thus could be quickly converted into minable resources.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113205

Fintech

Asian Financial Forum held next week as the region’s first major international financial assembly of 2025

Published

1 day ago

January 7, 2025

Adrienn Sarkany

asian-financial-forum-held-next-week-as-the-region’s-first-major-international-financial-assembly-of-2025

The 18th Asian Financial Forum 2025 (AFF), co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) on 13 and 14 January (Monday and Tuesday). As the region’s first major international financial conference in 2025, the forum will examine the landscape for new business opportunities in various industries and regions in the coming year and promote global cooperation, and is expected to attract more than 3,600 finance and business heavyweights.

Themed “Powering the Next Growth Engine”, the AFF will bring together more than 100 global policymakers, business leaders, financial experts and investors, entrepreneurs, tech companies and economists to share their views on the shifting global economic landscape and financial ecosystem. These industry experts will dissect the risk management strategy, discover new business opportunities, and explore how Hong Kong can seek breakthroughs in a period of change.

First flagship financial event to showcase Hong Kong’s financial strengths

Launched in 2007, the AFF has become a flagship financial event for Hong Kong and the broader region, highlighting the city’s pivotal role as a globally renowned financial hub with a highly competitive economic and business environment. Amid a rapidly changing global macroeconomic landscape, and shifts in geopolitical dynamics and monetary policies, Hong Kong’s financial services sector continues to leverage its strengths across various domains, drawing on its world-class business infrastructure and robust regulatory regime to help drive cooperation and mutual success across Asia and around the world.

Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR Government, said: “Hong Kong’s financial market went through a lot of reforms and innovation last year. We have also launched a roadmap on sustainability disclosure in Hong Kong and issued a policy statement on responsible application of artificial intelligence in the financial market with a view to boosting green finance and sustainable financing. The upcoming Asian Financial Forum will gather the top-tier of the financial and various sectors from all around the world, the Mainland and in Hong Kong and hence is the perfect occasion for us to showcase to the world the new momentum and latest advantages of Hong Kong in the financial realm. Participants will also have a chance to learn more about how Hong Kong can partner with them to explore new collaborations and development areas while expanding their network here.”

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive Officer, Hong Kong, of HSBC, said: “The global economy faces greater uncertainties in 2025 compared to 2024. However, robust growth in India and ASEAN nations, combined with increased policy support from Mainland China, is expected to keep Asia’s (ex-Japan) GDP growth at a strong 4.4%, well above the global average of 2.7%.” Against this backdrop, this year’s Asia Financial Forum is aptly themed “Powering the Next Growth Engine” and will focus on high-potential markets such as ASEAN, the Middle East (particularly the Gulf Cooperation Council countries), and the role that Hong Kong can play. Ms Lim said Hong Kong’s unique role as a bridge between the mainland and international markets allows it to support mainland enterprises expanding globally. She added that Hong Kong is committed to attracting global talent and investors, driving growth for both mainland and international businesses.

Patrick Lau, HKTDC Deputy Executive Director, said: “As we move into the new year, different economies around the world are facing challenges in maintaining economic growth. As an international financial centre, Hong Kong is playing an important role both as a ‘super-connector’ and a ‘super value-adder’ to link the world, enabling investors and fundraisers to leverage the city’s professional services and investment platforms to facilitate collaboration and create business opportunities. This year’s forum not only brings together heavyweight speakers and thought leaders but also builds on the success of previous years to provide a business platform for international participants, promoting financial and business cooperation and working together to launch new engines for growth.”

Exploring new trends as the world’s economic centre of gravity continues its shift east

Reflecting on a trend where the world’s economic centre of gravity continues to take an eastward shift, Christopher Hui will host two plenary sessions on emerging prospects in the region on the first day of the forum (13 January). The morning session of Plenary Session I will feature H.E. Adylbek Kasymaliev, Prime Minister of Kyrgyzstan, finance ministers from countries such as Pakistan and Luxembourg, and Yoshiki Takeuchi, Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD), who together will explore the financial policy outlook for 2025. In the afternoon, Plenary Session II will bring together leaders from multilateral organisations to share their views on the role of multilateral cooperation in regional economic development. Speakers will include Roberta Casali, Vice-President, Finance and Risk Management, Asian Development Bank; Jin Liqun, President and Chair of the Asian Infrastructure Investment Bank (AIIB); and Satvinder Singh, Deputy Secretary-General for ASEAN Economic Community, Association of Southeast Asian Nations (ASEAN). Moreover, a new session, the Gulf Cooperation Council Chapter, will bring together HE Jasem Mohamed AlBudaiwi, Secretary General of the Gulf Cooperation Council (GCC), speakers from the Middle East and local experts to discuss prospects in fostering financial cooperation and investment between the member states of the GCC and Hong Kong.

Also on the first day, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will host the Policy Dialogue session with speakers including European representatives such as Philip Lane, Chief Economist and Member of the Executive Board of the European Central Bank, and Dr Olli Rehn, Governor of the Bank of Finland. The discussion will explore the opportunities and challenges arising from the global shift towards more accommodative monetary policies and national authorities’ strategic deployment of measures to revitalise their economies and accelerate growth through innovation.

The panel discussion on China Opportunities returns this year with senior figures invited to analyse investment prospects under China’s commitment to technological innovation and its impact on global business. The panellists included Li Yimei, Chief Executive Officer of China Asset Management; and Ken Wong, Executive Vice President of Lenovo and President of Lenovo Solutions & Services Group.

Top economist and leading AI expert take the stage at keynote luncheons

Another highlight of this year’s AFF will be the two keynote luncheons featuring thematic speeches by two distinguished guests: Prof Justin Lin Yifu, Chief Economist and Senior Vice President of the World Bank (2008-2012), and Prof Stuart Russell, Co-chair of the World Economic Forum Council on AI. These two prominent figures will dissect the evolution of the global economic landscape amid changing international dynamics, and examine how artificial intelligence (AI) is emerging as a new driving force for rapid global economic growth respectively.

Exploring hot topics in the financial and economic sectors

The afternoon panel discussion, Global Economic Outlook, will feature a special address from Liu Haoling, Vice Chairman, President and Chief Investment Officer, China Investment Corporation. The panel will analyse international economic trends and provide insights into business opportunities and wealth accumulation in emerging industries and regions in 2025.

Other sessions titled Global Spectrum, Dialogues for Tomorrow and Thematic Workshop will feature in-depth discussions focusing on the latest industry trends, including AI, Web 3.0, sustainability, philanthropy and family offices. As AI becomes increasingly widespread and diversified in its societal applications, the second day of the forum will introduce a special session, Dialogue with Kai-Fu Lee, in which Dr Kai-Fu Lee, Chairman of Sinovation Ventures, will discuss the transformative power of AI and its impact on technological advancements in the global business ecosystem.

Exploring the impact of sustainable disclosure on investment strategies

Sustainable finance and environmental, social and governance (ESG) considerations have become an irreversible global trend. In 2025, Hong Kong is set to fully align its regulatory framework with the sustainability disclosure standard of the International Sustainability Standards Board (ISSB). Sue Lloyd, Vice Chair of the ISSB, will join other experts in discussing how adopting international financial sustainability disclosure standards can strengthen market confidence in Hong Kong’s capital markets, address post-COP29 implementation in Asia, and share strategies for sustainable investing across three separate sessions. In addition, the Breakfast Panel on the second day will focus on the flows of transition finance in shaping a sustainable future in the Greater Bay Area and beyond. Furthermore, the HKTDC has partnered with EY to conduct a joint market survey on sustainable development, aiming to explore the views and practices of Asian businesses and investors on topics such as sustainability reporting, sustainable finance and preparations for dealing with climate change. The results of the survey will be unveiled on the first day of the forum.

Expanding cross-border opportunities through the HK global investment platform

As a key element of this year’s forum, AFF Deal-making offers one-on-one matching services for project owners and investors. More than 270 investors and 560 projects are expected to participate, with investment opportunities across industries such as environmental, energy, clean technology, food and agriculture tech, healthcare tech, fintech and deep technology. The exhibition sections of the AFF – Fintech Showcase, InnoVenture Salon, FintechHK Startup Salon and Global Investment Zone – will attract more than 130 local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner EY, HSBC, Bank of China (Hong Kong), Standard Chartered Bank, UBS, Prudential, China International Capital Corporation (CICC), Huatai International and more. Notably, the InnoVenture Salon will provide a platform for more than 100 start-ups to showcase innovative technologies in a variety of fields such as finance, regulation, sustainability, health and agriculture, supported by more than 110 Investment Mentors and Community Partners.

IFW 2025 creates synergies with AFF to boost mega event economy

International Financial Week (IFW) 2025 runs from 13 to 17 January with the AFF as its highlight event. This year’s IFW will feature more than 20 partner events, covering a wide range of global financial and business topics, including private equity, family offices, net-zero investing and generative AI. As the region’s first major financial event of the year, the AFF attracts top global enterprises and leaders to Hong Kong, creating connections between capital and opportunities. The forum assists industry professionals in seizing opportunities in the new year and helps promote the mega event economy in Hong Kong.

This year, the AFF has collaborated with various organisations to provide special travel, dining and shopping discounts and privileges for overseas participants joining the event. Activities include Peak Tram and Sky Terrace trips, the iconic Aqua Luna red-sail junk boat, and guided tours of Man Mo Temple and Tai Kwun arranged by the Hong Kong Tourism Board. Participants can also enjoy dining discounts and guided tours from the Lan Kwai Fong Group, as well as the Winter Wonderland at the Hong Kong Jockey Club’s Happy Wednesday at Happy Valley Racecourse, all designed to immerse overseas visitors in the vibrancy and diversity of Hong Kong.

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Fintech

Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)

Published

3 weeks ago

December 19, 2024

Peter Tolan

fintech-pulse:-your-daily-industry-brief-(chime,-zbd,-mica)

As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.

Chime’s Quiet Step Toward Public Markets

Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.

With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.

Source: Bloomberg

ZBD’s Pioneering Achievement: EU MiCA License Approval

ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.

MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.

Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.

Source: Coindesk, PR Newswire

The Fintech-Credit Union Synergy: A Blueprint for Innovation

The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.

This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.

Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.

Source: PYMNTS

Tackling Student Loan Debt: A Fintech’s Mission

Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.

The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.

As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.

Source: RBJ

Industry Implications and Takeaways

Today’s updates underscore several key themes shaping the fintech landscape:

Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.

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Fintech

SPAYZ.io prepares for iFX EXPO Dubai 2025

Published

3 weeks ago

December 19, 2024

Adrienn Sarkany

spayz.io-prepares-for-ifx-expo-dubai-2025

Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.

SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.

Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.

“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”

Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.

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