Brazil
News

Jaguar posts Q1 net loss

Bnamericas Published: Wednesday, May 15, 2019
Jaguar posts Q1 net loss

Brazil-focused Jaguar Mining posted a US$1.84mn loss for the first quarter compared to a US$1.78mn loss in the same period of 2018.

Revenue fell 15.1% year-on-year to US$21.4mn, the company said in its latest earnings release.

Toronto-based Jaguar's gold production fell to 16,365oz from 18,865oz, while sales were down to 16,821oz from 19,237oz in 1Q18.

Cash operating costs increased to US$870/oz from US$800/oz. All-in sustaining costs were up to US$1,428/oz from US$1,289/oz, the company said.

During Q1, Jaguar entered into a senior secured loan facility agreement with Auramet International LLC for US$7.85mn to fund working capital. Under the agreement, interest shall be prepaid and non-reimbursable for US$350,000, and the principal is due at maturity on July 15, 2019.

"First quarter results reflect lower production levels from both Turmalina and Pilar. Operational delays related to slot raises, geotechnical issues and lack of flexibility at Turmalina resulted in lower tonnes milled of 65,000t. We continue to focus on executing a turnaround plan at Turmalina that will address operational challenges faced during the quarter," Jaguar said.

Jaguar's gold mines – Pilar, Turmalina, Paciência and Caeté – are all in Minas Gerais state.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Brazil)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Cristalino
  • Current stage: Blurred
  • Updated: 6 months ago
  • Project: Ivolândia
  • Current stage: Blurred
  • Updated: 6 months ago
  • Project: Colíder
  • Current stage: Blurred
  • Updated: 6 months ago
  • Project: Ariquemes
  • Current stage: Blurred
  • Updated: 6 months ago
  • Project: Apolo
  • Current stage: Blurred
  • Updated: 6 months ago

Other companies in: Mining & Metals (Brazil)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Grupo Novonor  (Novonor)
  • Novonor, formerly known as Odebrecht, is a Brazilian holding company present with operations in 14 countries, including Argentina, Brazil, Colombia, Ecuador, Mexico, Panama, Per...
  • Company: Companhia Brasileira de Alumínio  (CBA)
  • Companhia Brasileira de Alumínio (CBA), born in 1941 and headquartered in São Paulo, is a Brazilian aluminum producer part of the local conglomerate Votorantim. CBA mines and sm...