Cabral Gold (TSXV: CBR) has completed its first gold sale from its Cuiú Cuiú district in northern Brazil, moving the junior into revenue at its Phase 1 oxide heap leach operation.
The company sold more than 2,400 ounces of gold, shipped as doré to a Brazilian refinery, at an average net realized price above US$4,200 per ounce. That puts proceeds from the first shipment at more than US$10 million, just 3 weeks after the company’s first gold pour.
The sale also confirms that the mine-to-market chain works as planned, from the pit through processing, shipment and final sale.
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Commissioning is now nearly complete. Crews stabilized the stacking rate on the heap leach pads using a single daily shift ahead of schedule, prompting the company to bring forward a second shift. The dry plant, which handles ore preparation and stacking, and the wet circuit are both now running 24 hours a day.
Mining remains largely a 12-hour operation, with run-of-mine stockpiles feeding the plant overnight.
President and CEO Alan Carter said the first sale “marks the beginning of revenue generation from the gold-in-oxide starter operation.” He credited the Brazilian operating team and said the focus now shifts to safely lifting throughput and recoveries while building a reliable source of operating cash flow.
Cabral said the project remains on time and on budget, with construction completion and commercial production both expected in the fourth quarter of 2026. The company plans to declare commercial production once daily output approaches design capacity.
Carter also pointed to expansion opportunities within Phase 1 oxide processing and the larger Phase 2 hard-rock development.
Cuiú Cuiú hosts indicated resources of 450,200 ounces in fresh rock and 216,182 ounces in oxide material, along with inferred resources of 455,100 ounces and 70,569 ounces, respectively.
Cabral Gold last traded at $1.58 on the TSX Venture.
