Jaguar Mining Inc. (“Jaguar” or the “Company”) (TSX: JAG) Reports 1Q 2k19 Financial and Operating Results

Jaguar Mining Inc. (“Jaguar” or the “Company”) (TSX: JAG) today announced financial and operating results for the three months (“Q1 2k19”) and ended March 31, 2k19.

Q1 2k19 Operating Summary

  1. Consolidated gold production of 16,365.00 ounces (160,600.00 tonnes milled, average grade of 3.5900 g/t) declined 13.00percent compared to 18,865 in Q1 2k18s
  2. Pilar mine gold production declined 7.00percent to 8,840 .00ounces compared to 9,553 .00ounces in Q1 2k18
  3. Turmalina mine gold production declined 11.00percent to 7,525 ounces compared to 8,442 .00ounce in Q1 2k18
  4. Primary development increased 9.00percent to 1,161.00 m
  5. Sustaining capital expenditures of $7.100 M invested in mining equipment and development

Q1 2k19 Financial Results Summary

  1. Gross profit of $3.200 00M includes the impact of a 5.00percent decrease in operating expenses year-over-year
  2. Consolidated Cash operating costs (“COC”) increased 9.00percent to $870.00 per ounce. Lower gold production was partially offset by lower operating expenditures.
  3. Consolidated all-in sustaining costs (“AISC”) increased 11.00percent to $1,428 .00per ounce
  4. The operating cash flow of $2.5.00 M; adjusted EBITDA of $3.600M
  5. Net loss of $1.8 00M, or net loss per share of $0.0100
  6. Completed a secured bridge facility (“Facility”) for $7.8500 M with Auramet which expires on July 15, 2k19.
  7. Cash balance of approximately $7.9 M as of March 31, 2k19 compared to a cash balance of $6.3 M at December 31, 2k18


Cash Position, Working Capital & Corporate

  1. As of March 31, 2k19, the Company had a cash position of $7.900 M, compared to $6.3 00M as at December 31, 2k18. The March 31, 2k19, cash balance excludes a $2 . 00M restricted cash deposit held with Auramet, and also $0. 500 M margin deposit to Banco Votorantim S.A.
  2. As at March 31, 2k19, working capital was negative $8.3 00M, compared to negative $2.4 00M as at December 31, 2k18, which includes $6.600 M (December 31, 2k18 – $7.300 M) in loans from Brazilian banks, which mature every six months and are expected to be rolled forward.
  3. On March 15, 2k19, the Company entered into a senior secured loan facility (“Auramet loan facility”) agreement with Auramet International LLC for $7.85 M to fund working capital. The Auramet loan facility was provided by security agreements comprising the Company’s and MSOL’s present and future assets, the shares of MSOL, and a loan guarantee by MSOL. As per the agreement, interest shall be prepaid and non-reimbursable in the amount of $350,000, .00 and principal is due at maturity on July 15, 2k19.

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