Jaguar Mining Reports Financial Results for Q2 2024

Toronto-based Jaguar Mining Inc. announced its financial results for the second quarter of 2024, ending June 30. The company reported gold production of 16,829 ounces, slightly surpassing the 16,750 ounces from the same period in 2023. Gold sold increased by 12% to 19,022 ounces. Realized gold prices jumped by 20% to $2,354 per ounce.

Costs saw reductions, with cash operating costs per ounce falling by 9% to $1,046, and all-in sustaining costs decreasing by 15% to $1,517 per ounce. The company posted revenues of $44.8 million, a 35% increase from the previous year's $33.2 million. Operating costs remained steady at $19.9 million.

Net income soared to $13.5 million, compared to a $1.1 million loss in Q2 2023. Free cash flow experienced substantial growth, reaching $15.2 million, up significantly from $2.4 million the previous year. As of June 30, the cash position stood at $37.4 million, reflecting a $15.4 million year-to-date increase.