Business
Jaguar Mining Reports Fourth Quarter Production with 22,532 Gold Ounces
Turnaround Year with 23% Year-Over-Year Production Increase Within Upper Half of the 202...
About this update from Jaguar Mining Inc.
[{"type":"text","content":"Jaguar Mining Reports Fourth Quarter Production with 22,532 Gold OuncesTurnaround Year with 23% Year-Over-Year Production IncreaseWithin Upper Half of the 2020 Production GuidanceExploration Program Started at Corrego BrandãoTORONTO, ON / ACCESSWIRE / January 12, 2021 / Jaguar Mining Inc. (\"Jaguar\" or the \"Company\") (TSX:JAG) today announced Production results for the three months (\"Q4 2020\") and twelve months ended December 31, 2020 (\"FY 2020\"). All figures are in US Dollars, unless otherwise expressed.FY 2020 Annual and Q4 2020 Operating Results Summary Annual consolidated gold production for 2020 increased 23% with 91,116 ounces compared to 2019 production of 74,083 ounces; in the upper half of the 2020 production guidance of 84,000 to 94,000 ounces of gold despite a tumultuous year dominated by the COVID-19 pandemic. Both mines saw significant improvement from 2019 production levels with Pilar up 25% and Turmalina up 20%. Q4 2020 consolidated gold production increased 12% to 22,532 ounces, compared to Q4 2019 production of 20,029 ounces.Annual consolidated tonnage for 2020 processed was 804,000 tonnes at 3.99 grams per tonne (g/t), an increase of 5% in tonnes and an increase of 17% in grade from 2019´s 767,000 tonnes processed at 3.41 g/t. Q4 2020 consolidated tonnage processed was 228,000 tonnes at 3.50 g/t; increases of 7% from the fourth quarter of 2019 with 214,000 tonnes at 3.32 g/t.Annual 2020 development of 7,085 primary and 2,640 secondary metres for a total of 9,725 metres, which is an increase of 13% on FY 2019 total metres developed of 8,606. Q4 2020 primary metres of 1,871 metres and secondary metres of 667, totalling 2,538 metres which is an 11% increase on Q4 2019 development of 2,278 metres. These development rates provide sustainable progress on the ramp and ore development.Diamond Drill metres for FY 2020 increased 96% to 68,397 metres from 34,899 metres in FY 2019. Q4 2020 metres were at 21,521 a 76% increase from Q4 2019 drilling of 12,197 metres.Treasury position as of December 31, 2020, with cash of $39 million compared to cash of $11 million on December 31, 2019 and $39 million on September 30, 2020, demonstrating continued generation of free cash flow. During Q4 2020 the Company also,Invested total capital expenditures of $11 million (sustaining capital $9 million and growth capital $...