Jaguar Mining Inc. (JAG.TO) reported a net loss of $21.6 million
or $0.26 per fully diluted share for the quarter ended September
30, 2012, compared to a net loss of $51.3 million or $0.61 per
fully diluted share in the third quarter of 2011. The third quarter
2012 result includes a $4.7 million unrealized non-cash loss on the
conversion option embedded in convertible debt. Excluding this
non-operating item, Jaguar's third quarter result was a net loss of
$16.9 million or $0.20 per fully diluted share.
2012 Estimated Production and Cash Operating Cost:
Based on the operating results for the first three quarters of
the year and the continuing implementation of the Restructuring and
Turnaround Plan, Jaguar is revising its outlook for both production
and cash operating costs in 2012.
The company now expects 2012 gold production in the range of
100,000 to 110,000 ounces. On this new volume, cash operating costs
are expected to be in the range of $1,050 to $1,150 per ounce
(based on an assumed exchange rate of R$2.0 per US$).
The company is in the process of reevaluating its production and
cost targets for 2013.
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