Jaguar Mining says its gold production in Brazil down 8% in 2021
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However, the company said that its Q4 2021 consolidated gold production increased 2% to 22,903 ounces, compared to Q4 2020 production of 22,533 ounces.
Jaguar added that the company's guidance for 2022 is 86,000 - 94,000 ounces of gold produced at an AISC range of $1,150 - $1,250 per ounce, and that it is focusing on sustainable quality-ounce production and maximizing free cash flow generation.
Importantly, Jaguar pointed out that its treasury position as of December 31, 2021 is $40 million in cash compared to cash of $39 million on December 31, 2020 and $38 million on September 30, 2021, demonstrating strong generation of free cash flow.
President and CEO Vern Baker stated, "As Jaguar has come out of the pandemic and the associated issues created by COVID-19, it has become clear that the sustainable production profile for Jaguar in the nearer term is going to average approximately 22,500 ounces per quarter. Q3 and Q4 performance has shown that we can produce, explore, pay dividends, increase our bank balance, and invest in the growth of the company when we maintain production at these levels."
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He added that Jaguar´s operating focus is on producing quality ounces that maximize free cash flow per ounce.
"The team believes there are several opportunities to further reduce all-in-sustaining costs and maximize margins at this sustainable rate. The team also sees the tremendous opportunities that our exploration efforts will bring to the company in the future," he continued.
Jaguar Mining is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes and a large land package with significant upside exploration potential from mineral claims.