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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. has announced significant progress in its exploration efforts within the Iron Quadrangle region, reporting new high-potential gold trends over a 50km strike length. This update includes six priority drill targets for a 4,000m diamond drilling campaign set to start in September 2021. The exploration revealed widespread gold-in-soil anomalies, with rock chip samples showing grades up to 11.76 g/t Au. Jaguar aims to increase its stake in the project through a joint venture with IAMGOLD Corporation by investing US$6M over four years.
Jaguar Mining announced its Q2 2021 financial results, reporting a 15% decline in revenue to $36.3 million, primarily due to a 19% drop in gold sales. Operating costs rose 19% to $17.4 million, driven by inflation and pandemic-related adjustments. Net income fell sharply to $2.9 million from $19.2 million in Q2 2020. The company declared a quarterly dividend of C$0.04 per share, set for August 30. Despite challenges, Jaguar aims to ramp up production and mitigate inflation impacts in the second half of 2021.
Jaguar Mining Inc. reported a 11% increase in consolidated gold production to 20,212 ounces for Q2 2021, despite challenges posed by the COVID-19 pandemic. The company's operational recovery is progressing, with a notable decrease in infection impacts and increased vaccination rates among staff. While production is on the rise, it still reflects a 14% decrease from Q2 2020. The strong balance sheet shows cash reserves of $34.7 million, although production challenges remain, particularly at the Turmalina mine. Financial results are expected on or before August 15, 2021.
Jaguar Mining has announced significant findings from its Corrego Brandão project in Minas Gerais, Brazil, with drilling results revealing a sulphide mineralized zone grading 11.25gt Au over 3.8m and a broader zone of 4.63gt Au over 12.45m. So far, 38 drill holes have been completed, defining a mineralized trend extending 500m along strike. VP Exploration Jon Hill noted positive results that may lead to higher-grade mineralization. CEO Vern Baker highlighted accelerated exploration efforts in the Iron Quadrangle region, supporting the company’s organic growth objectives.
Jaguar Mining Inc. held its annual general meeting on June 1, 2021, where all nominees for director positions were elected with significant support. William Kennedy received 95.67% approval, while Benjamin Guenther garnered 99.07%. The appointment of auditors was also approved with 99.86% of votes. The company operates in Brazil with key assets in the Iron Quadrangle. For detailed voting results, visit SEDAR.
Jaguar Mining announced Q1 2021 results, highlighting a 3% revenue increase to $31.7 million, fueled by a 20% rise in the average realized gold price to $1,793/oz. However, gold ounces sold dropped 14% to 17,677 due to COVID-19 impacts. Net income fell to $6.1 million, down from $12.3 million in Q1 2020, attributed to higher costs and depreciation. The Board declared a quarterly dividend of C$0.08 per share, consistent with previous quarters. Despite challenges, management expressed optimism for Q2 2021, anticipating a production ramp-up as the pandemic's impact recedes.
Jaguar Mining (OTCQX:JAGGF) reported a 14% decrease in gold production for Q1 2021, producing 18,161 ounces compared to 21,008 ounces in Q1 2020. The decline is attributed to the impact of COVID-19, affecting about 30% of its workforce. Despite challenges, exploration drilling increased by 7% to 15,597 metres, and exploration expenditures rose to $2.5 million. As of March 31, 2021, Jaguar maintained a cash position of $38 million. The company anticipates a gradual recovery in production levels post-pandemic as vaccination rates in Brazil increase.
Jaguar Mining Inc. has successfully finalized the sale of its Net Smelter Return (NSR) royalty related to the CentroGold Project in Brazil to Metalla Royalty & Streaming Ltd. for up to US$18 million. The transaction includes an upfront cash payment of US$7 million, with an additional US$11 million contingent upon the achievement of project milestones. The NSR consists of variable percentages based on gold production levels. This strategic sale allows Jaguar to secure immediate funds and potential future payments as the project develops.
Jaguar Mining Inc. (TSX:JAG)(OTCQX:JAGGF) is enhancing its COVID-19 Response Plan due to increasing pandemic cases in Brazil, particularly in Minas Gerais. The state has declared a curfew, and local hospitals are nearing capacity. Jaguar reported 185 COVID-19 cases among employees, primarily in Q1 2021. Increased measures include appointing a COVID-19 Monitor, limiting contractor access, and requiring high-risk employees to work from home. While production remains within annual guidance, ongoing infections and potential lockdowns may affect output. The company adapts to government protocols as needed.
Jaguar Mining Inc. (TSX:JAG)(OTCQX:JAGGF) announced its addition to the VanEck Vectors Junior Gold Miners ETF (GDXJ) as of market close on March 18, 2021. This inclusion is part of GDXJ's first quarter rebalancing for 2021. Additionally, Jaguar has also been added to the U.S. Global GO GOLD and Precious Metal Miners ETF. The company anticipates further additions to precious metals-related ETFs, which may boost market visibility and liquidity over the next year.
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