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Jaguar Mining Inc.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  First Canadian Place
100 King Street West, 56th Floor
Toronto, ON
Canada M5X 1C9
Tel No.: 416-847-1854
Web Site: www.jaguarmining.com
E-mail: hashim.ahmed@jaguarmining.com
Contact Person: Hashim Ahmed
Position: Chief Financial Officer


Company Data

Traded Market: TSX
Traded Symbol: JAG
Outstanding Shares: 724,155,836
Public Float: 724,155,836
52 Week High: $ 0.75
52 Week Low: $ 0.105
Present Price: Click Here


Introduction

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Jaguar Mining Inc. 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 covering an area of approximately 65,000 hectares.

The Company's principal operating assets are located in the Iron Quadrangle (IQ), a prolific greenstone belt near the city of Belo Horizonte in the state of Minas Gerais, Brazil. Belo Horizonte serves as the commercial center for Brazil's mining industry and has excellent infrastructure to support world-class mining operations.

Jaguar's principal operating assets include the Turmalina Gold Mine Complex and Caeté Gold Mine Complex (Pilar and Roça Grande Mines, and Caeté Plant) which combined, produce more than 95,000 ounces of gold annually. The Company also owns the Paciência Gold Mine Complex, which has been on care and maintenance since 2012. The Roça Grande Mine has been on temporary care and maintenance since April 2019. Additional information is available on the Company's website at www.jaguarmining.com.

The Iron Quadrangle (IQ)

  • Largest, most successful gold mining district in Brazil
  • Contains world-class multi-million ounce gold deposits such as Morro Velho, Cuiabá and São Bento.
  • First gold discovery in 1695
  • 50+ million ounces of Au produced
  • 315+ years of continuous production

Jaguar in the IQ

  • Tenements: 65,000 Ha with 27,000 Ha in the IQ
  • 505,000 Au Oz of Reserves support 4-5 years production planning
  • 2.48M Au Oz total Resources and orebody projections support >10 Year Strategic Planning, Organic Growth
  • Turmalina, Caeté, and Paciência processing plants/2,000 tpd each, processing capacity for future organic growth


OPERATIONS

Turmalina Gold Mine

Mine Statistics

  • Underground mine
  • Sub-level stoping
  • Plant Capacity – 2,000 tpd

Mineral Resource and Mineral Reserve (MRMR) Estimates as at December 31, 2019

  • Proven & Probable (2P) Reserves: 332,000 oz @ 4.31 g/t Au
  • Measured & Indicated Resources: 784,000 oz @ 4.98 g/t Au
  • Inferred Resources: 629,000 oz @ 5.60 g/t Au

Turmalina Strategic Plan

Strategic Plan Based On:

  • Geological – structural projections of known mineralization trends and grade models
  • Turmalina resource Oz per vertical meter (Vm) profile of mineralization (Orebody A+C) remains consistent with historical levels (> 2,500 Oz/Vm)
  • Current mine design parameters and actual performance metrics, LOM scenario produces approximately 1,000 ounces Oz/Vm.
  • Build and maintain 12 months of developed reserves and >3 years of reserve inventory
  • One 60 m panel vertical mining advance per annum
  • Potential to expand production from additional orebodies and increase the Oz/Vm profile with exploration drilling
  • Long life potential

Pilar Gold Mine

Mine Statistics – Caeté Processing

  • Underground mine
  • Long hole stoping
  • Ore trucked 40 km to Plant
  • Plant Capacity – 2,000 tpd

MRMR as at Dec. 31, 2019

  • 2P Reserves: 173,000 oz @ 3.56 g/t Au
  • Measured & Indicated Resources: 713,000 oz @ 3.87 g/t Au
  • Inferred Resources: 358,000 oz @ 3.54 g/t Au

Pilar Strategic Plan

Strategic Plan Based On:

  • Geological – structural projections of known mineralization trends, grade models
  • Pilar resource Oz per vertical meter (Vm) profile (Orebody BA, BF and BF2) remaining consistent with historical levels (>2,000 Oz/Vm )
  • LOM scenario assumes current mine design parameters and actual performance metrics producing approximately 1,000 Oz/Vm (recovered)
  • Plan to maintain 12 months of developed reserves and > 3 years of reserve inventory
  • One 60 m panel vertical mining advanced per annum
  • Potential to expand production from additional orebodies and increase the Oz/Vm profile with exploration drilling
  • Long life potential

Increase in Reserves & Life of Mine

Consolidated Pilar and Turmalina Mines Proven and Probable Reserves increased 15% year-over-year (net of 2019 depletion) to 505,000 ounces of gold at a weighted average grade of 4.02 g/t Au.

Q2 2020 Operating Summary

  • Consolidated gold production increased 43% with 23,483 ounces produced (208,000 tonnes milled, average grade of 4.00 g/t) in Q2 2020 compared to 16,365 ounces produced in Q1 2019 and 28% compared to 18,366 ounces produced in Q2 2019.
  • Pilar mine gold production increased 17% with 13,452 ounces produced compared to 11,521 ounces produced in Q1 2020 and increased 28% compared to 10,543 ounces produced in Q2 2019.
  • Turmalina mine gold production of increased 6% with 10,031 ounces produced compared to 9,487 ounces produced in Q1 2020 and increased 28% compared to 7,823 ounces produced in Q2 2019.
  • Primary development increased 30% to 1,707 meters compared to 1,310 meters completed in Q2 2019.
  • Sustaining capital expenditures of US$6.1 million invested in mining equipment and development.


Management

Management and Directors

Vernon Baker, Chief Executive Officer

Mr. Baker has over 35 years of mining industry experience. He has extensive management and operations expertise at globally focused mid-tier and senior mining companies. Most recently, he was General Manager at Goldcorp's Cerro Negro Mine in Argentina.

Hashim Ahmed, Chief Financial Officer

Mr. Ahmed has over 19 years of experience, with the past 10 years focused in the mining industry, and expertise in financial management, strategy, corporate turnaround, and capital markets.

Jonathan Victor Hill, Exploration & Mine Geology (Expert Advisor to the JMMC)

Mr. Hill has over 30 years' experience of global exploration, mining operational and project development experience. He served as a regional exploration manager with AngloGold Ashanti.

Jeff Kennedy, Acting Chairman and Director

Thomas S. Weng, Director

Benjamin Guenther, Director

Luís Ricardo Miraglia, Director

John Ellis, Director

Shastri Ramnath, Director


News Update

On August 26, 2020, Jaguar Mining Inc. has signed an option agreement with Iamgold Corp. on a package of 28 exploration tenements covering an area of about 27,141.75 hectares in the prolific Iron Quadrangle, located in Minas Gerais, Brazil. The Iron Quadrangle agreement stipulates that Jaguar has the option to earn an initial 60-per-cent interest in the package by spending $6.0-million in exploration expenditures over four years commencing in the third quarter of 2020. Jaguar will be the project operator and will be subject to oversight by a technical committee with representatives from both companies.

On August 18, 2020, Jaguar Mining Inc. has released updated mineral resource and mineral reserve (MRMR) estimates as at May 31, 2020, for the Pilar gold mine located in Minas Gerais, Brazil. Highlights:

  • Pilar proven and probable mineral reserves (2P) as at May 31, 2020, were 240,000 ounces of gold contained within 1.86 million tonnes at a weighted average grade of 4.0 grams per tonne gold, representing a 12-per-cent increase in reserve grade. This reflects an ounce increase of 58 per cent year over year before mined depletion, and an increase in 2P mineral reserves of 40 per cent year over year, net of January to May, 2020, mined depletion (21,000 ounces).
  • Probable mineral reserves increased 99 per cent to 133,000 ounces of gold at a weighted average grade of 4.11 g/t Au.
  • Proven mineral reserves remained constant at 106,000 ounces of gold at a weighted average grade of 3.86 g/t Au.

On August 12, 2020, Jaguar Mining Inc.'s board of directors has declared a dividend of eight cents per common share of the company on a postconsolidation (as hereinafter defined) basis, payable to shareholders of record at the close of business on the date that is five trading days after the effective date (as hereinafter defined) of the consolidation. Jaguar will make a further announcement to confirm the record date and payable date of the dividend following the completion of the consolidation.

On August 6, 2020, Jaguar Mining Inc. announced financial and operating results for the three months ("Q2 2020") and six months ended June 30, 2020.

  • Consolidated Gold Production Increased 28%
  • Gross Profit increased 312% to US$23.9 million
  • Strong Treasury Position of US$30.2M
  • Consolidated Cash operating costs ("COC") Decreased by 25% to US$586/oz Au, and
  • Consolidated all-in sustaining costs (“AISC”) Decreased 35% to US$882/oz Au

On July 30, 2020, Jaguar Mining Inc. announced the voting results from its annual general and special meeting of shareholders held on July 30, 2020.

On July 30, 2020, Jiulian Resources Inc. announced that it has entered into an arm's-length definitive option agreement with Jaguar Mining Inc., to acquire up to a 100-per-cent interest in the Pedra Branca project tenement package, located in Ceara state, northeastern Brazil.


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