Jaguar Mng Stock Price, News & Analysis

Jaguar Mining Inc. has reported a significant increase in its consolidated Proven and Probable (2P) Mineral Reserves, reaching 507koz as of December 31, 2021, up from 478koz in 2020. The Pilar Mine contributed an increase of 41koz, totaling 251koz. The company is well-positioned to enhance its growth initiatives, with a Life of Mine projected through 2027 for both the Turmalina and Pilar mines. Despite a slight decrease in Indicated and Measured Mineral Resources, the overall outlook remains positive with successful exploration efforts, particularly at the Córrego Brandão Project.

Jaguar Mining reported Q4 and FY 2021 results on March 21, 2022. Q4 revenue fell 2% to $42.7 million, primarily due to a drop in gold prices. Operating costs rose 15%, attributed to inflation and increased development. Cash operating costs increased 14% to $802 per ounce, while all-in sustaining costs fell to $1,127 per ounce. Net income dropped 44% to $13.7 million due to a previous year impairment reversal. For FY 2021, gross profit decreased by 30% to $60 million. Free cash flow also declined to $8.2 million. A quarterly dividend of C$0.04 per share was declared.

Jaguar Mining Inc. has announced an 85% increase in its exploration and growth spending for 2022, allocating $27 million for direct expenditures. This investment is part of a 5-year plan aimed at expanding mineral resources and improving operational efficiency. The company anticipates adding approximately 45,000 ounces of annual production over the next five years. Key projects include Faina, Zona Basal, and Córrego Brandão, with several initiatives already underway in the Turmalina and Pilar mines. The company's growth strategy focuses on leveraging cash flow from operations to fund these endeavors.

Jaguar Mining Inc. (TSX:JAG)(OTCQX:JAGGF) reported an increase in Q4 2021 gold production by 2% to 22,903 ounces but an 8% decrease in annual production to 83,878 ounces. The company plans to allocate $18 million for exploration and growth in 2022, targeting a production guidance of 86,000 - 94,000 ounces at an AISC of $1150 - $1250 per ounce. Jaguar maintains a cash position of $40 million as of December 31, 2021, and paid $13.4 million in dividends during the year.

Jaguar Mining Inc. (TSX:JAG)(OTCQX:JAGGF) reported its Q3 2021 financial results, revealing a 6% decline in revenue to $40.7 million compared to Q3 2020. This decrease was primarily driven by a reduction in the average gold price to $1,753/oz.. Operating costs rose 38% to $19.4 million, with cash operating costs increasing by 36% to $833 per ounce. Net income fell to $11.4 million, down from $16.5 million last year. Despite these challenges, the company declared a dividend of C$0.04 per share, maintaining its previous payout.

Jaguar Mining Inc. reported a 12% increase in gold production for Q3 2021, with 22,602 ounces produced compared to 20,212 ounces in Q2 2021. Despite lower production than Q3 2020 due to lower grades, Pilar and Turmalina mines showed improved outputs. The company has strong liquidity, with cash reserves rising to $38 million. CEO Vern Baker highlighted ongoing exploration efforts, with projects progressing towards resource definition and pre-feasibility phases. However, the ongoing pandemic poses potential risks to future production.

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.