Toronto, March 25, 2024 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG, OTCQX:JAGGF) today filed its year-end results, the highlights of which are included in this news release. The full set of audited consolidated financial statements for the fiscal years ended December 31, 2023 and 2022, accompanying management's discussion and analysis and annual information form can be accessed by visiting the Company's website at https://jaguarmining.com or its profile page on SEDAR+ at www.sedarplus.ca. All figures are in US Dollars, unless otherwise expressed.

Fourth Quarter and Full Year 2023 Highlights

Gold production for the quarter was 18,482 ounces, gold sold was 18,098 ounces at cash operating costs¹ of $1,089 per ounce of gold sold and all-in sustaining costs¹ of $1,510 per ounce of gold sold. Realized gold prices were $1,982 per ounce.
Gold production for the full year was 70,704 ounces, gold sold was 70,525 ounces at cash operating costs¹ of $1,126 per ounce of gold sold and all-in sustaining costs¹ of $1,618 per ounce of gold sold. Realized gold prices were $1,936 per ounce.
Revenue for the quarter and full year was $35.9 million and $136.5 million respectively, in line with revenue in the fourth quarter of 2022 and 4% lower compared to full year 2022, driven by fewer ounces produced and sold which was mostly offset by higher realized gold prices.
Net income for the quarter and full year was $10.7 million ($0.14 per share) and $15.9 million ($0.21 per share) respectively. Net income for the quarter included credits from the recognition of $5.8 million of a deferred tax asset and impairment reversals of $3.9 million, partially offset by a $1.0 million charge for a provision against a current receivable balance.
Operating costs for the quarter and full year were $19.7 million and $79.4 million respectively, compared to operating costs for the quarter and full year of $21.4 million and $84.2 million respectively in 2022.
Free cash flow1 for the quarter and full year was $4.3 million and $11.5 million respectively and was based on operating cash flow plus asset retirement obligation expenditures, less capital. Free cash flow per ounce1 sold for the quarter and full year was $236 and $163 respectively.
As at year end, the Company had cash and cash equivalents of $22.0 million.
Vern Baker, President and CEO of Jaguar Mining stated: “We are pleased to report our fourth quarter and full year results for 2023. Strong gold prices and cost optimizations helped offset the many headwinds we faced this past year, including inflation and lower production, and enabled us to end the year with a cash position of $22 million. Production in the second half of the year stabilized and we realized the benefits from adjustments and work that began earlier in the year. Our cost management efforts were evident in the fourth quarter as we reduced our all-in sustaining costs both on a per-tonne and a per-ounce basis despite fewer tonnes being processed. We expect to leverage this better cost structure as we grow our production over the next several years.

see & read more on
https://jaguarmining.com/en/investors/news-releases/2024/jaguar-mining-reports-financial-results-for-the-fourth-quarter-and-full-year-2023/