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Jaguar Mining Inc. (JAGGF) is a Canadian gold mining company with investments and operations in Brazil. Committed to generating value for shareholders, employees, and the community, we operate based on solid values of safety, ethics, environment, and social responsibility.
During 2023, the company completed exploration activities over three new target trends in Brazil, including Carrancas, Rio do Peixe, and Paciência. High-grade drilling and sampling programs defined mineralized strikes and gold anomalies, showcasing potential for future discoveries.
Exploration VP Jon Hill highlighted the success of exploring high-potential targets within their portfolio and reported significant results from the Rocinha - Carrancas - Carneiro trend, Rio do Peixe trend, and Paciência trend.
Jaguar Mining has temporarily suspended operations at its Turmalina mine in Minas Gerais, Brazil, following a slump in the north wall of the Satinoco tailings pile on December 7, 2024. The incident affected mine infrastructure, including maintenance areas, filter plant piping, storage areas, and an emergency exit. 134 residents were evacuated to local hotels as a precautionary measure.
The company is working with local authorities and the Brazilian National Mining Agency to manage the situation. While no injuries were reported, operations will remain suspended for at least one month until safety can be assured. The Turmalina mine is part of the company's MTL mining complex, located approximately 130 kilometers northwest of Belo Horizonte.
Jaguar Mining (TSX:JAG) has announced a normal course issuer bid approved by the Toronto Stock Exchange. The company plans to purchase and cancel up to 3,965,404 common shares, representing 5% of its outstanding shares. The bid will run from November 27, 2024 to November 26, 2025, with daily purchases to 19,073 shares. Pollitt & Co. Inc. will execute the purchases at prevailing market prices. The company believes this move will enhance long-term shareholder value and help mitigate dilution from future share issuances. As of November 14, 2024, Jaguar had 79,308,085 common shares outstanding.
Jaguar Mining reported Q3 2024 financial results with gold production of 16,912 ounces, slightly lower than Q3 2023's 17,316 ounces. Revenue increased 23% to $38.9 million, driven by higher realized gold prices of $2,474 per ounce. Cash operating costs decreased 7% to $1,101 per ounce, while AISC increased 7% to $1,831 per ounce. Net income was $2.3 million, down from $3.8 million in Q3 2023. The company's cash position strengthened to $41.6 million, up from $22.0 million at end-2023. The Faina zone at Turmalina mine contributed 1,819 ounces with development ongoing for planned production ramp-up in 2025.
Jaguar Mining Inc. (TSX:JAG) announced preliminary Q3 2024 production results. Key highlights include:
- Consolidated gold production of 16,912 ounces, slightly up from Q2 2024 but down from Q3 2023
- Processed 173,940 tonnes at 3.67 g/t, showing higher grades due to focus on grade control
- Completed 1,824 metres of primary development and 1,411 metres of secondary development
- Cash position increased by 11% to $41.6 million as of September 30, 2024
The company focused on developing new areas, particularly the Faina zone at Turmalina and BA zone at Pilar. While tonnage decreased, grade improved by 24% year-over-year. Jaguar expects modest production improvement in Q4 2024 and is advancing development projects for future growth.
Jaguar Mining Inc. (TSX:JAG, OTCQX:JAGGF) has reported significant progress in developing the high-grade BA zone at its Pilar mine in Brazil. The company has completed approximately 374 meters of access development on five sub-levels, generating 30,547 tonnes of ore at an average grade of 4.64 g/t gold, producing 4,032 ounces in the first half of 2024. Diamond drilling has yielded promising results, including an intercept of 9.35 g/t Au over an estimated true width of 7.5m on level 18, indicating potential expansion at depth. Jaguar expects to mine 50-60,000 tonnes grading approximately 4.14 g/t from the BA zone in the second half of the year, with plans for it to contribute about 50% of Pilar's production by the second half of 2025.
Jaguar Mining (TSX:JAG, OTCQX:JAGGF) has provided an update on development and drilling activities at its Faina deposit, part of the MTL mining complex in Minas Gerais, Brazil. Key highlights include:
- First tonnage from Faina processed at Turmalina plant, producing 414 gold ounces in Q2 2024
- Probable Mineral Reserves at Faina: 132 koz (787 kt @ 5.22 g/t Au)
- 4,439m of primary access development completed since 2022
- High-grade intersections in recent drilling, including 8.95 g/t Au over 14.29m and 5.44 g/t Au over 18.23m
- Planned production increase to +300,000 tonnes per year from 2026 onwards
The company expects continuing development and first stope production from Faina in H2 2024, with strong growth anticipated in 2025.
Jaguar Mining reported strong financial results for Q2 2024. Gold production was 16,829 ounces, slightly higher than Q2 2023. Gold sales increased 12% to 19,022 ounces, with realized prices up 20% to $2,354/oz. Revenue jumped 35% to $44.8 million, while net income reached $13.5 million ($0.17/share). Cash operating costs decreased 9% to $1,046/oz, and AISC fell 15% to $1,517/oz. Free cash flow surged to $15.2 million ($801/oz sold). The company ended Q2 with $37.4 million in cash, up $15.4 million from year-end 2023. Both Pilar and Turmalina mines saw increased grades, with Turmalina achieving first production from the new Faina zone.
Eric Sprott, through his company 2176423 Ontario , has increased his stake in Jaguar Mining Inc. (JAGGF). The company purchased 750,000 common shares on the Toronto Stock Exchange at an average price of $3.50 per share, for a total investment of approximately $2,625,000. This acquisition represents about 1.0% of Jaguar Mining's outstanding shares on a non-diluted basis.
Following this purchase, Sprott now beneficially owns 37,108,711 shares, representing approximately 46.9% of the outstanding shares on a non-diluted basis. This marks an increase of about 2.1% in his holdings since the last early warning report filing. Sprott views this as a long-term investment and may consider further acquisitions or dispositions in the future.
Jaguar Mining has reported its preliminary production results for Q2 2024, with gold production totaling 17,244 ounces, marking a 7% increase from Q1 2024 and a 3% rise year-over-year.
This increase includes 414 ounces from the newly contributing Faina project. Consolidated tonnage processed was 170,150 tonnes at an average grade of 3.59 g/t, reflecting an improvement in grade control and the addition of high-grade ore from Faina.
Exploration and development activities showed mixed results, with primary development at 1,273 meters and secondary development at 1,130 meters, both down compared to Q2 2023. However, exploration development rose to 679 meters, driven by Faina. The company's cash position rose significantly by 42% to $37.4 million due to higher gold prices and positive margins.
Jaguar Mining expects these development efforts to support stronger performance in the year's second half.
Jaguar Mining announced the results of its Annual General Meeting held on June 21, 2024. All nominees listed in the May 15, 2024 management circular were elected as directors. Key voting results included Benjamin Guenther (96.4% for), Luis Ricardo Miraglia (96.2% for), and Vernon Baker (96.4% for), among others. Additionally, shareholders approved the appointment of the auditors, with 96.1% voting in favor. Full voting results are available on Jaguar's profile at www.sedarplus.ca.
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