Jaguar Mining Gold Output Soared 18%

SEATTLE (Scrap Monster):  Toronto-based Jaguar Mining Inc. announced financial results for the fourth quarter and year ended 31^st December, 2019.

In Q4 2019, the company reported 18% surge in gold production. The quarterly gold production totalled 20,029 ounces as compared with 17,622 ounces in Q4 2018. The company reported net income of $2.7 million. The consolidated all-in sustaining costs (AISC) recorded 3% year-on-year decline to $1,239 per ounce. The cash generated from operating activities totalled $9.7 million.

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The full year 2019 gold production held more or less steady at 78,084 ounces. This compares with 75,048 ounces of gold produced in 2018. The surge in average realized gold price per ounce led to 9.8% increase in gross profits, which totalled $23.2 million in FY 2019. AISC increased by 8.4% to $1,349 per ounce. The adjusted EBITDA was $24.3 million, higher by 17.5% from 2018.

Vern Baker, President and CEO of Jaguar Mining noted that the company closed out the year with the best quarter. The production improvements, strong gold price trends and reducing AISC would help the company report consistently stronger financial results each quarter in 2020, he added.