Jaguar Mining Q1 2025 Financial Report

Jaguar Mining Inc. announced its financial results for the first quarter of 2025, highlighting a significant operational shift as the company operated solely with its Pilar mine. The Turmalina mine is temporarily suspended due to a December 2024 incident.

Gold production from the Pilar mine reached 9,924 ounces, a notable decline from 16,177 ounces the previous year with both mines operational. Nevertheless, an increase in the average head grade partly offset the reduced ore throughput.

Revenue was $27.3 million, down from $32.6 million in 2024. Despite lower sales, higher gold prices mitigated the revenue drop. Operating costs decreased to $10.5 million, aided by the suspension of Turmalina operations.

The company posted a net loss of $1.6 million, contrasting with a $2.8 million income in Q1 2024. Cash reserves stood at $40.3 million, reflecting strategic payments including environmental liabilities and debt repayment.

CEO Vern Baker remains optimistic despite challenges, highlighting resilience at Pilar and ongoing efforts to safely restart the Turmalina mine.