Jaguar Mining Inc. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Year 2015
May 25 15
Jaguar Mining Inc. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue of $28,747,000 against $31,100,000 a year ago. Net loss was $12,946,000 or $0.12 per basic and diluted share against $15,755,000 or $15.76 per basic and diluted share a year ago. LBITDA was $1,510,000 against $1,996,000 a year ago. Adjusted EBITDA was $7,056,000 against $2,972,000 a year ago. Total capital expenditures were $5,381,000 against $4,324,000 a year ago. In the first quarter of 2015, sustaining capital expenditures were up by $1.3 million or 33% at $5.2 million compared to $3.9 million during the corresponding period in 2014, primarily due to higher capitalized brownfield exploration at Pilar mine and major rebuilds for machinery and equipment. Operating loss was $9,528,000 compared to $12,085,000 a year ago. Loss before income taxes was $9,281,000 compared to $15,761,000 a year ago. Net cash provided by operating activities was $12,177,000 compared to $2,609,000 a year ago. Purchase of property, plant and equipment was $5,280,000 compared to $4,136,000 a year ago.
For the quarter, the company reported produced 21,336 ounces of gold in the first quarter of 2015, compared to 23,359 ounces in the corresponding 2014 period: Turmalina produced 11,796 ounces of gold in the first quarter of 2015, compared to 11,374 ounces in the corresponding 2014 period, Caeté produced 9,540 ounces of gold in the first quarter of 2015, compared to 11,985 in ounces in the corresponding 2014 period. A total of 226,000 tones was processed in the first quarter of 2015 (first quarter of 2014: 268,000 tones) at an average head grade of 3.3 grams per ton (first quarter of 2014 - 2.9 grams per ton): Turmalina processed 111,000 tones (first quarter of 2014: 111,000 tones) at an average head grade of 3.6 grams per ton (first quarter of 2014: 3.2 grams per ton). Caeté processed 115,000 tones (first quarter of 2014: 157,000 tones) at an average head grade of 3.2 grams per ton (first quarter of 2014: 2.7 grams per ton). Consistent with efforts to decrease production costs, tones mined decreased in the first quarter of 2015 by 16% compared to the same period in 2014, while the average head grade milled increased by 14%. For the first quarter of 2015, the average gold recovery rate was 89%, compared to 88% for the comparable 2014 period.
The company is maintaining its 2015 guidance of approximately 56,000 ounces to 62,000 ounces, compared to 48,000 ounces in 2014.
Jaguar Mining Inc. Reports Multiple High Grade Gold Mineralization Intercepts in Depth Extensions at Pilar Mine
Apr 27 15
Jaguar Mining Inc. announced multiple high-grade drill intercepts, in particular drill hole PPL302 which intercepted 18.22 grams per tonne gold over 7.4 meters, generated from underground exploration drilling at its 100% owned Pilar Mine located in Minas Gerais, Brazil. Drill hole PPL160 intercepted 14.04 grams per tonne Au ("g/t Gold") over 8.7 meters, drill hole PPL294 intercepted 10.63 grams per tonne Au over 13.6 meters, drill hole PPL304 intercepted 20.98 grams per tonne Au over 3.7 meters and drill hole PPL307 intercepted 18.22 grams per tonne Au over 7.4 meters, including 27.19 grams per tonne Au over 4.3 meters. Drill hole FSB502 intercepted 41.99 grams per tonne Au ("g/t Gold") over 4.3 meters, including 128.33 grams per tonne Au over 1 meter, drill hole FSB499 intercepted 12.23 grams per tonne Au over 6.3 meters and drill hole FSB501 intercepted 10.95 grams per tonne Au over 6.6 meters, including 24.86 grams per tonne over 1.3 meters.