Jaguar Mining Reports Mixed First Quarter Financial Results for 2024

Jaguar Mining Inc., headquartered in Toronto, disclosed its financial outcomes for the first quarter ending March 31, 2024. Gold production totaled 16,177 ounces, while sales amounted to 15,692 ounces at an operating cost of $1,167 per ounce and all-in sustaining costs of $1,608 per ounce. Despite a decrease in production and sales volume compared to the same period last year, increased realized gold prices at $2,076 per ounce helped maintain revenue levels at $32.6 million, only a 9% drop from the previous year.

The company reported a net income of $2.8 million for the quarter, slightly higher than the prior year by $0.4 million. Operating costs saw a reduction, resting at $18.3 million down from $20.6 million in Q1 2023. Free cash flow remained stable at $3.3 million, comparable to the first quarter of the previous year. Jaguar Mining also improved its cash position, with cash and cash equivalents reaching $26.4 million by March 31, 2024, an increase from $22.0 million at the end of 2023.