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Share Name | Share Symbol | Market | Type |
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TSXV:JAG | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
JAG – TSX-V
TORONTO, Nov. 12, 2014 /PRNewswire/ - Jaguar Mining Inc. ("Jaguar" or the "Company") (JAG: TSX-V) today announced the financial and operating results for the third quarter ended September 30, 2014.
Financial Highlights
Operational Highlights
Corporate Highlights
Financial and Operational Highlights |
|||||
($ thousands, except where indicated) |
For the three months ended September 30 |
For the nine months ended September 30 | |||
2014 |
2013 |
2014 |
2013 | ||
Financial Data |
|||||
Revenue |
$ 29,015 |
$ 32,082 |
$ 90,596 |
$ 105,679 | |
Production costs |
22,312 |
20,451 |
66,923 |
67,231 | |
Gross margin (excluding depreciation) |
6,703 |
11,631 |
23,673 |
38,448 | |
Net (loss) income |
(9,491) |
(13,192) |
221,393 |
(82,835) | |
Per share ("EPS") |
(0.09) |
(13.19) |
3.36 |
(83.72) | |
EBITDA1 |
2,154 |
5,220 |
257,231 |
(30,764) | |
Sustaining capital expenditures1 |
7,361 |
4,567 |
16,484 |
18,416 | |
Non-sustaining capital expenditures1 |
120 |
224 |
556 |
963 | |
Total Capital Expenditures2 |
$ 7,481 |
$ 4,791 |
$ 17,040 |
$ 19,379 | |
Operating Data |
|||||
Average realized gold price ($ per ounce)1 |
$ 1,279 |
$ 1,331 |
$ 1,278 |
$ 1,461 | |
Gold sold (ounces) |
22,681 |
24,111 |
70,864 |
72,347 | |
Gold produced (ounces) |
22,374 |
26,300 |
69,601 |
73,639 | |
Cash operating costs (per ounce produced)1 |
969 |
847 |
950 |
866 | |
Cash operating costs (per ounce sold)1 |
984 |
848 |
944 |
929 | |
All-in sustaining costs (per ounce sold)1 |
$ 1,494 |
$ 1,191 |
$ 1,353 |
$ 1,358 |
1Average realized gold price, sustaining and non- sustaining capital expenditures, cash operating costs and all-in sustaining costs and EBITDA are non-gaap financial performance measures with no standard definition under IFRS. Refer to the Non-IFRS Financial Performance Measures section of the MD&A. | ||||
2These amounts are presented on accrual basis. Capital expenditures are included in our calculation of all-in sustaining costs. Sustaining capital includes primary development for operating mines which are expected to benefit the next two years. Expenditures exceeding the two year time frame are disclosed as non-sustaining capex. |
For more information on the financial and operating results, refer to www.jaguarmining.com or www.sedar.com.
Qualified Person
Wilson Miola, an independent "qualified person" as such term is defined in National Instrument 43-101, has approved the technical information in this news release.
About Jaguar
Jaguar is a junior gold producer in Brazil with operations in a prolific greenstone belt in the state of Minas Gerais and is developing the Gurupi Project in Northern Brazil in the state of Maranhão. The Company is actively exploring and developing additional mineral resources at its approximate 197,000 hectare land base in Brazil. Additional information is available on the Company's website at: www.jaguarmining.com.
FORWARD LOOKING STATEMENTS
Certain statements in this press release constitute "Forward-Looking Statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements related to activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, statements related to the comprehensive action plan that, it believes, could lead to an operational turnaround and reduced operating costs and the comprehensive program of definition/delineation drilling and accelerated mine development that management believes, is needed at all three operating mines. Forward-Looking Statements can be identified by the use of words such as "are expected", "is forecast", "is targeted", "approximately" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-Looking Statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results or performance to be materially different from any future results or performance expressed or implied by the Forward-Looking Statements.
Forward-Looking Statements involve known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such risk factors include, among others the risk of the comprehensive action plan not leading to an operational turnaround and reduced operating costs and the risk of not being able to fully implement the comprehensive program of definition/delineation drilling and accelerated mine development that management believes is needed in all three mines, as well as those factors disclosed in the Company's current Annual Information Form and Management's Discussion and Analysis, as well as other public disclosure documents, available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. The forward-looking statements contained herein are presented for the purposes of assisting investors in understanding the Company's plan, objectives and goals and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements.
These Forward-Looking Statements represent the Company's views as of the date of this press release. The Company anticipates that subsequent events and developments may cause the Company's views to change. Factors, which could cause results or events to differ from current expectations, include, among other things, actions taken against the Company by governmental agencies and securities and other regulators and other factors not currently viewed as material that could cause actual results to differ materially from those described in the Forward-Looking Statements. The Company does not undertake to update any Forward-Looking Statements, either written or oral, that may be made from time to time by or on behalf of the Company subsequent to the date of this discussion except as required by law.
SOURCE Jaguar Mining Inc.
Copyright 2014 PR Newswire
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