- Jaguar Mining (JAGGF, Financial) reported Q1 2025 gold production dropped to 9,924 ounces, marking a 39% decrease from Q1 2024.
- The company's net loss for the quarter was $1.6 million, equivalent to $0.02 per share.
- Despite challenges, Jaguar Mining maintained a healthy cash position of $40.3 million as of March 31, 2025.
Jaguar Mining Inc. (JAGGF) has released its financial results for the first quarter of 2025, highlighting operational challenges due to the suspension of its Turmalina mine. The company produced 9,924 ounces of gold exclusively from its Pilar mine, a significant drop from the 16,177 ounces produced in the same period last year when both Pilar and Turmalina were functioning.
Despite the decrease in gold production, Jaguar Mining achieved a strong realized gold price of $2,845 per ounce, assisting in offsetting some of the revenue shortfalls due to the lower production volume. Revenue for the quarter was reported at $27.3 million, down from $32.6 million in Q1 2024.
The net loss for the quarter stood at $1.6 million, or $0.02 per share, in contrast to a net income of $2.8 million in the same period last year. However, when adjusted for one-time expenses, the company reported a net income of $4.1 million or $0.05 per share.
Cash operating costs were $1,105 per ounce, and all-in sustaining costs were reported at $1,726 per ounce. The company maintained a robust cash position, with $40.3 million in cash and equivalents as of the end of March 2025.
Jaguar Mining is currently focused on rehabilitation work at the Santa Isabel mine, aiming to conduct test mining in the third quarter. Discussions are ongoing with governmental agencies to ensure a safe restart of operations at the Turmalina mine, though no specific date has been set for its reopening.
