Welcome to our dedicated page for Jaguar Mng news (Ticker: JAGGF), a resource for investors and traders seeking the latest updates and insights on Jaguar Mng stock.
Jaguar Mining Inc. reports news on its gold mining, development, and exploration business in Brazil, with principal assets in the Iron Quadrangle of Minas Gerais. Company updates commonly cover operating results, gold production, sales, costs, and mine activity at the MTL Complex, including the Turmalina mine and plant, and the Caeté Complex, including the Pilar and Roça Grande mines and Caeté plant.
Recurring developments also include mineral resource and reserve updates, exploration drilling at Pilar and other Brazilian targets, technical disclosure under NI 43-101, and regulatory matters tied to mine operations, tailings management, safety, and environmental approvals. News may also address care-and-maintenance assets such as Roça Grande and the Paciência Complex, along with corporate presentations and strategy updates.
Jaguar Mining Inc. (TSX:JAG) has launched a 6,000m reverse-circulation drilling campaign at the Zona Basal Target near the Turmalina Gold Mine in Brazil. This exploration aims to define a shallow oxide maiden mineral resource, covering an area of 1,000m by 200m and a depth of 30-50m, guided by previous soil anomalies and drill intersections. The program involves 120 holes, expected to take three months for drilling, with assay results anticipated by year-end 2021 and resource estimation in late Q1-2022. The initiative is seen as a key step in enhancing resources and operational efficiency.
Jaguar Mining has reported successful metallurgical testwork at its Faina project, achieving over 85% gold recovery through a combination of gravity concentration and flotation. The Faina resource contains 261,000 tonnes at 6.87 g/t Au, totaling 58,000 oz Au, with inferred resources at 1.5 million tonnes at 7.26 g/t Au, totaling 360,000 oz Au. These results support conceptual mining studies aimed at integrating Faina into the nearby Turmalina Mine operations, enhancing production capacity and extending mine life.
Jaguar Mining Inc. has appointed Mary-Lynn Oke as a director and chair of the Audit & Risk Committee, effective August 30, 2021. With over 20 years of experience in tax, finance, corporate roles, and senior leadership, Ms. Oke's background includes serving as Vice President and CFO at Hudbay Minerals Inc. Her expertise spans financial reporting, acquisitions, tax, treasury, and capital structuring. Chairman Jeff Kennedy expressed confidence in her qualifications for this critical role, signaling a strong leadership addition to enhance company governance.
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.