Jaguar Mining Posts Q3 Net Loss, Revises Production and Cash Operating Costs; Shrs Fell 2.9% Monday


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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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