Jaguar Mining Reports Financial Results for the Second Quarter of 2024

Jaguar Mining Inc. released its financial results for the second quarter ending June 30, 2024. Gold production reached 16,829 ounces, a slight increase from 2023. Gold sold totaled 19,022 ounces, up 12% from last year. Realized gold prices rose 20% to $2,354 per ounce.

Cash operating costs per ounce dropped 9% to $1,046, while all-in sustaining costs decreased by 15% to $1,517 per ounce. Revenue surged 35% to $44.8 million, driven by higher volumes and gold prices. Operating costs remained steady at $19.9 million. Net income was $13.5 million, reversing a $1.1 million loss in Q2 2023. Free cash flow increased significantly to $15.2 million.

As of June 30, 2024, cash and equivalents stood at $37.4 million, a $15.4 million increase from December 31, 2023. Working capital rose to $28.4 million. CEO Vern Baker highlighted ongoing developments and financial performance, expressing optimism for future growth at their mining sites.