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Share Name | Share Symbol | Market | Type |
---|---|---|---|
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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
(All figures are in US dollars unless otherwise expressed)
TSX-V: JAG
TORONTO, Jan. 8, 2015 /CNW/ - Jaguar Mining Inc. ("Jaguar" or the "Company") (TSXV: JAG) is pleased to report annual gold production of 92,057 ounces in 2014 (2013 – 95,595 ounces). A total of 1,038,000 tonnes was processed in 2014 (2013 – 1,092,000 tonnes) at an average grade of 3.03 grams per tonne (2013 – 3.07 grams per tonne). Mill recoveries for the year averaged 89% (2013 - 88%).
For the fourth quarter of 2014, the Company reported gold production of 22,457 ounces (Q4 2013 – 21,956 ounces). Mill throughput during the fourth quarter totaled 258,000 tonnes (2,866 tonnes per day) at an average grade of 3.02 grams per tonne with average mill recoveries of 89%.
George Bee, President and CEO of Jaguar, commented: "2014 was a year of significant change for Jaguar as it successfully restructured and recapitalized the balance sheet, emerged from CCAA while retaining all assets, changed the executive management team and defined a multi-year business plan designed to generate free-cash-flow." Mr. Bee also stated: "2015 will continue to be a year of transition as we implement new mining methodologies and work to extend mine lives for our operating assets. Fundamental to our plan is a new focus on grade control versus filling our mills with low grade, high cost ore from narrow veins. Our plan is to move to more productive lower cost mining methods designed to deliver higher grade ore to feed our mills. In particular, our plans envision production at Turmalina to increase by more than 50% over the next two years. Cash and bullion at December 31, 2014 totaled approximately $9.1 million, additionally approximately $2.2 million of unsold/unrefined gold was located at a third-party refiner."
Dec 31, |
Dec 31, |
Dec 31, |
Dec 31, | ||||||
2014 |
2013 |
2014 |
2013 | ||||||
Tonnes milled |
258,000 |
258,000 |
1,038,000 |
1,092,000 | |||||
Recovery (%) |
89% |
88% |
89% |
88% | |||||
Grade (grams/tonne) |
3.02 |
2.96 |
3.03 |
3.07 | |||||
Gold Ounces |
|||||||||
Production |
22,456 |
21,956 |
92,057 |
95,595 | |||||
Sales |
21,400 |
23,503 |
92,264 |
94,850 |
Details of the Company's financial performance, including capital and operating costs, will be included in its fourth quarter and full-year 2014 financial results.
2015 Guidance
Consolidated |
Low |
High |
2014 | |||||
Au Production (ounces) |
92,000 |
102,000 |
92,057 | |||||
Grade milled (grams per tonne) |
3.30 |
3.75 |
3.03 | |||||
Tonnes milled |
925,000 |
1,025,000 |
1,037,972 | |||||
Au recovery rate |
89% |
90% |
90% | |||||
Cash operating costs(1) |
$ |
800 |
$ |
900 |
||||
All-In-Sustaining-Costs(2) |
$ |
1,100 |
$ |
1,200 |
||||
Definition/delineation drilling (m's) |
34,000 |
34,000 |
||||||
Turmalina Mine |
Low |
High |
2014 | |||||
Au Production (ounces) |
56,000 |
62,000 |
47,968 | |||||
Grade milled (grams per tonne) |
4.00 |
4.25 |
3.65 | |||||
Tonnes milled |
475,000 |
525,000 |
442,119 | |||||
Au recovery rate |
90% |
91% |
90% | |||||
Cash operating costs(1) |
$ |
640 |
$ |
700 |
||||
All-In-Sustaining-Costs(2) |
$ |
900 |
$ |
1,000 |
||||
Definition/delineation drilling (m's) |
25,000 |
25,000 |
||||||
Caete (Pilar and Roca Grande Mines) |
Low |
High |
2014 | |||||
Au Production (ounces) |
36,000 |
40,000 |
44,089 | |||||
Grade milled (grams per tonne) |
2.40 |
2.90 |
2.56 | |||||
Tonnes milled |
450,000 |
500,000 |
595,853 | |||||
Au recovery rate |
89% |
90% |
88% | |||||
Cash operating costs(1) |
$ |
1,075 |
$ |
1,175 |
||||
All-In-Sustaining-Costs(2) |
$ |
1,200 |
$ |
1,300 |
||||
Definition/delineation drilling (m's) |
9,000 |
9,000 |
About Jaguar Mining Inc.
Jaguar is a gold producer with mining operations in a prolific greenstone belt in the state of Minas Gerais, Brazil. Additionally, Jaguar wholly owns the large-scale Gurupi Development Project in the state of Maranhão, Brazil. In total, the Company owns mineral claims covering an area of approximate 197,000-hectares. Additional information is available on the Company's website at www.jaguarmining.com.
Footnotes
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, management's assessment of Jaguar's future plans and operation. Certain statements throughout this press release constitute forward-looking statements (forecasts) under applicable securities laws relating to future events or future performance. Forward-Looking Statements can be identified by the use of words such as "are expected", "is forecast", "is targeted", "approximately", "plans", "anticipates" "projects", "anticipates", "continue", "estimate", "believe" 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. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlooks or assurance that such results will be achieved. The actual results of Jaguar will likely vary from the amounts set forth in the financial outlooks and such variation may be material. Jaguar and its management believe that the financial outlooks have been prepared on a reasonable basis, reflecting the best estimates and judgments, and represent, to the best of management's knowledge and opinion, the Company's expected production, grades, tones milled, recovery rates, cash operating costs, and definition/delineation drillin, in addition to overall expenditures and results of operations during 2015. However, because this information is highly subjective and subject to numerous risks, including the risks discussed below, it should not be relied on as necessarily indicative of future results. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Jaguar and described in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof and Jaguar undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.
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 Jaguar's not meeting the forecast plans regarding its operations and financial performance, 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.
Non-IFRS Measures. This press release provides certain financial measures that do not have a standardized meaning prescribed by IFRS. Readers are cautioned to review the above stated footnotes where the Company expanded on its use of non-IFRS measures.
SOURCE Jaguar Mining Inc.
Copyright 2015 Canada NewsWire
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