(Kitco News) - Jaguar Mining Inc (TSX: JAG) announced today that its Q4 2022 consolidated gold production was 21,116 ounces, compared to Q4 2021 production of 22,903 ounces.
The company's annual consolidated gold production for FY 2022 was 80,968 ounces compared to 2021 production of 83,878 ounces.
For the year 2023, Jaguar Mining said it is guiding towards 84,000 to 88,000 ounces of gold production at an all-in sustaining cost range of $1,275 to $1,375 per ounce.
President and CEO Vern Baker commented, "In Q4 Jaguar´s team continued with consistent ounce production, and we continued to maintain development meters at our mines.
"2022 has been challenging as it started with widespread flooding in Minas Gerais and our mine areas, included a resurgence of the pandemic, saw the initiation of a major ground war in Europe putting further strain on supply chains, all of which led to high inflation through the first 6 months."
"After a slow start to the year, both Q3 and Q4 of 2022 saw our two mines operating consistently and each providing positive cash flow. Efforts to reduce overall costs in the face of high inflation began to take effect in the second half of the year. Growth efforts continue to be focused on our Faina Resource on which significant effort was spent in 2022. Looking ahead in 2023, our guidance is for quarterly production levels to be consistent with Q3 and Q4," he added.
Jaguar Mining is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil. The company's principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the Turmalina gold mine complex and Caeté mining complex (Pilar and Roça Grande mines, and Caeté plant).
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