Jaguar Mng Stock Price, News & Analysis

Jaguar Mining (TSX:JAG) announced that its subsidiary received a civil-liability fine of approximately R$320 million (US$52.5 million) from SEMAD regarding a slump in the north wall of the Satinoco dry-stacked pile at the Turmalina mine. The company considers the fine disproportionate and plans to appeal through SEMAD's administrative process.

Operations at the Turmalina mine remain temporarily suspended following the incident, while the Pilar mine continues operating. The company has 20 days to either accept the fine (payable in up to 60 monthly installments) or present a defense, during which the repayment obligation would be suspended pending a final decision.

Jaguar reaffirms its commitment to ongoing remediation efforts, assisting affected employees and families, and aims to restart the Turmalina mine operations safely and profitably.

Jaguar Mining provides an update on the remediation efforts following a slump in the north wall of the Satinoco dry-stack pile at its Turmalina mine on December 9, 2024. Operations at Turmalina remain temporarily suspended while the company works with Brazilian authorities. Key actions taken include: installation of geological radars for monitoring, construction of four sumps for water management, and building a 400-metre-long containment barrier to protect the adjacent community.

The incident damaged seven houses and led to the relocation of approximately 85 families to temporary accommodations. While no injuries were reported and waterways remain unaffected, the company faces potential civil and criminal lawsuits and fines. The company's cash position has grown since Q3 2024's US$42.0 million balance. The Pilar mine remains operational, and the company plans to reallocate resources there to offset lower production levels in 2025.

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.