- Jaguar Mining (JAG) reported a Q2 2025 gold production of 10,973 ounces, a decrease from 17,244 ounces in Q2 2024 due to the suspension of Turmalina mine operations.
- The Pilar mine showed resilience with a production of 10,731 ounces from 92,846 tonnes, achieving a 5% increase in head grade to 4.04 g/t and an 89% recovery rate.
- Jaguar's cash position increased to $48.3 million as of June 30, 2025, supported by favorable gold prices averaging $3,264 per ounce.
Jaguar Mining Inc. (JAG) announced its operating results for the second quarter of 2025, highlighting a total consolidated gold production of 10,973 ounces, compared to 17,244 ounces in Q2 2024. The decrease is primarily attributed to the temporary suspension of operations at the Turmalina mine, following an incident at the Satinoco dry-stacked facility. The company is focusing on strategic agility and operational resilience during this transition period.
The Pilar mine has been a strong performer for Jaguar, achieving a production of 10,731 ounces from 92,846 tonnes. Noteworthy improvements include a 5% increase in head grade to 4.04 g/t and a recovery rate enhancement to 89%. Development at Pilar saw significant progress with an advancement of 1,488 meters, marking a 34% improvement year-over-year, supported by expanded drilling operations and strategic resource allocation.
Financially, Jaguar demonstrated sound management with an increased cash position of $48.3 million as of June 30, 2025. This growth was bolstered by favorable gold prices, averaging $3,264 per ounce during the quarter. Despite ongoing expenses related to the Satinoco incident, the company's financial outlook remains stable, aiming for a restart of the MTL complex by Q1 2026, pending necessary stabilization work and regulatory approvals.
Jaguar Mining is committed to a responsible restart strategy for the Turmalina operations, outlining a comprehensive plan for facility stabilization, regulatory compliance, and operational readiness. The strategic focus remains on enhancing productivity and maintaining operational excellence while prioritizing safety and environmental responsibility.
