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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 Inc. (TSX:JAG) reported a 9% increase in consolidated gold production for Q1 2023, reaching 18,155 ounces compared to 16,663 ounces in Q1 2022. The company milled 206,000 tonnes, a rise from 184,000 tonnes in the same quarter last year. Gold production from the Pilar mine rose by 9% to 9,897 ounces, and Turmalina mine production also grew by 9% to 8,258 ounces. Development drilling increased by 10% to 2,880 metres, while exploration drilling fell by 63% to 9,655 metres. Cash at the end of the quarter stood at $25.8 million, up from $25.2 million at year-end. The guidance for gold production remains between 84,000 to 88,000 ounces with an AISC of $1,275 to $1,375 per ounce.
Jaguar Mining Inc. has filed its annual information form for the year ending December 31, 2022, providing additional disclosures to its previously released financial statements on March 30, 2023. The company, listed on TSX as JAG and OTCQX as JAGGF, operates in Brazil with three gold mining complexes and substantial exploration potential across approximately 58,000 hectares. Key assets include the Turmalina Gold Mine Complex and Caeté Gold Mine Complex, emphasizing its position in the Iron Quadrangle of Minas Gerais. More details are available on the company’s website.
Jaguar Mining Inc. announced its financial results for Q4 and the full year ended December 31, 2022. Revenue for Q4 decreased by 15% to $36.1 million due to a 10% decline in ounces sold and a 5% drop in realized gold prices. Gold production fell 8% to 21,116 ounces, while operating costs rose by 14% to $21.4 million. Despite these challenges, net income for Q4 increased to $11.5 million, boosted by a $10.7 million impairment reversal. For 2022, the full-year revenue declined by 6% to $142.5 million, with total production decreasing by 3%. The company ended the year with $25.2 million in cash, down from $40.4 million in 2021.
Jaguar Mining announces its 2022 annual Mineral Reserves and Resources statement, revealing a 11% decrease in Proven and Probable Mineral Reserves to 454 koz due to depletion. However, Measured and Indicated Resources increased by 7% to 1320 koz, and Inferred Resources rose 13% to 1191 koz. Key updates include the Faina Growth Project's resource increase from 58 koz to 233 koz and an additional 235 koz of Inferred Resources at the dormant Paciência Complex. Free cash flow over three years totals $91.2 million, with $29.6 million in dividends paid. The company's operations maintain a five-year mineral reserve pipeline.
Jaguar Mining Inc. (TSX:JAG, OTCQX:JAGGF) announces that Chief Financial Officer Hashim Ahmed will step down to pursue another opportunity. He will remain in the role for several months to support the transition while the company searches for his replacement from both internal and external candidates. CEO Vern Baker expressed gratitude for Ahmed's contributions over the past eight years, particularly in strengthening Jaguar’s balance sheet. Jaguar operates in Brazil with three gold mining complexes and significant exploration potential, notably in the Iron Quadrangle in Minas Gerais.
Jaguar Mining announced promising results from diamond drilling at its Pilar mine complex and Catita target in Brazil. Highlights include:
- 20.93 g/t Au over 10.0m in BA Structure
- 24.01 g/t Au over 5.0m in LPA Structure
- 9.72 g/t Au over 9.0m in SW Structure
- 9.51 g/t Au over 5.9m at Catita Target
The drilling campaigns aimed to extend high-grade mineralization and successfully identified down plunge extensions at the BA structure. The company plans to release updated Mineral Reserves and Resources in March 2023. CEO Vern Baker emphasized the potential for further exploration opportunities within the mine.
Jaguar Mining announced positive drill results from its Turmalina Complex in Brazil, highlighting significant gold mineralization. Key findings include:
- 22.87 g/t Au over an estimated true width of 5.4m in Orebody C
- 13.54 g/t Au over 6.4m in Orebody B
- 9.51 g/t Au over 9.8m in Faina Resource Conversion Infill Drilling
The drilling focused on high-grade extensions and confirmed continuity of mineralization. The Company will update Mineral Reserves and Resources in March 2023. CEO Vern Baker expressed excitement over the results, indicating they support the Company’s growth plans.
Jaguar Mining reported its Q4 and FY 2022 production results, revealing gold production of 21,116 ounces for Q4 2022, down from 22,903 ounces in Q4 2021. For FY 2022, total gold production was 80,968 ounces, down from 83,878 ounces in 2021. The company also provided production guidance for 2023, targeting 84,000 to 88,000 ounces. Despite higher sustaining capital expenditures, Jaguar maintains a solid cash position of $25.2 million. Development efforts increased, with 11,571 meters of development completed in 2022, supporting growth, particularly in the Faina project.
Jaguar Mining Inc. (TSX:JAG, OTCQX:JAGGF) has commented on allegations from the Ontario Securities Commission concerning its Chairman, William Jeffrey Kennedy, related to a 2017 capital markets transaction. The allegations do not involve any business or activities of Jaguar and the Company is not a respondent in the matter. Jaguar Mining continues to focus on its operations, which include significant gold mining complexes in Brazil, while monitoring the proceedings closely. The Company remains committed to transparency and investor communication.
Jaguar Mining Inc. (TSX:JAG, OTCQX:JAGGF) reported financial results for Q3 2022, revealing a 7% revenue decline to $37.8 million compared to Q3 2021. Operating costs rose by 14% to $22.1 million, driven by inflation and increased labor expenses. Net income also fell to $6.5 million, down from $11.4 million in the previous year. Cash operating costs jumped to $999 per ounce, with all-in sustaining costs at $1,331. The company's cash position decreased to $29.9 million, and working capital fell to $19.6 million. A quarterly dividend has been suspended to prioritize growth investments.
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