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Jaguar Mining Delivers Strong Adjusted Earnings and Strategic Production Restart of MTL (Turmalina Mine) in Q1 2026
TORONTO, ON / ACCESS Newswire / May 13, 2026 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG) (OTCQX:JAGGF) is pleased to report its financial and
About this update from Jaguar Mining Inc.
[{"type":"text","content":" TORONTO, ON / ACCESS Newswire / May 13, 2026 / Jaguar Mining Inc. (\"Jaguar\" or the \"Company\") (TSX:JAG) (OTCQX:JAGGF) is pleased to report its financial and operational results for the first quarter ended March 31, 2026. The Company achieved a significant turnaround in profitability, driven by record gold prices and a consistent performance at the Pilar Mine, while successfully navigating the regulated restart of the MTL Complex (Turmalina). The interim condensed consolidated financial statements for the quarter ended March 31, 2026 and accompanying management's discussion and analysis can be accessed by visiting the Company's website at https://jaguarmining.com or its profile page on SEDAR+ at www.sedarplus.ca. All figures are in US Dollars, unless otherwise expressed. First Quarter 2026 Highlights Adjusted Earnings Growth: Delivered Adjusted Net Income1 of $10.3 million ($0.12 per share), demonstrating strong underlying profitability in a record gold price environment. Net income for the quarter was $4.7 million, overcoming non-recurring restoration costs and non-cash foreign exchange fluctuations. Revenue Surge: Revenue increased 63% to $44.6 million, compared to $27.3 million in Q1 2025, supported by a 71% increase in the average realized gold price1 to $4,875 per ounce. Strategic Production Restart: Consolidated gold production totaled 9,630 ounces. This includes a consistent performance from the Pilar Mine (8,776 oz) and the successful initial 22 days of production from the MTL Complex restart (854 oz), which provides a foundation for the planned production ramp-up throughout the remainder of 2026. Robust Free Cash Flow1: The Company generated $10.1 million in Free Cash Flow1 ($1,104 per ounce sold), further strengthening its cash position to $71.2 million. This liquidity supports the self-funding of the 2026 exploration program and the upcoming Santa Isabel mine restart. Normalized Cost Profile: Cash operating costs were $14.3 million ($1,565/oz). All-in sustaining costs1 (AISC) were $2,412 per ounce. Excluding one-time expenses related to the final stages of the Satinoco event restoration ($5.9 million), the Company's core operating margins remain exceptionally healthy. Exploration Momentum: Exploration drilling (6,018 meters) continued at pace, albeit with assay results pending at the Chamé target, reinforcing the ...