en.Wedoany.com Reported - Canadian gold mining company Jaguar Mining Inc. (TSX:JAG) announced its second-quarter 2026 operating results on July 15, 2026. Benefiting from the ramp-up of the Turmalina mine, the company's consolidated gold production for the second quarter reached 13,057 ounces, a 19% increase from 10,973 ounces in the same period last year, exceeding budget expectations by 306 ounces. The Pilar mine contributed 9,063 ounces, while the Turmalina mine contributed 3,994 ounces. The company's cash position has increased to $74.8 million.

Jaguar Mining Inc., headquartered in Toronto, Canada, is an intermediate gold producer focused on the Iron Quadrangle region of Brazil. The company's core assets include the Turmalina Gold Complex (MTL Complex) and the Caeté Gold Complex, both located in the state of Minas Gerais. The Turmalina mine resumed operations in early March 2026, after being suspended in 2025 due to environmental and operational issues.

The second quarter was the first full production quarter since the restart of the Turmalina mine, with output reaching 3,994 ounces, accounting for approximately 31% of the company's consolidated production. The mine processed 50,190 tonnes of ore, with an average head grade of 2.94 g/t and a recovery rate of 84%. Of the ore sources, 90% came from the B and C ore bodies, and 10% from the Faina ore body. The recovery rate for Faina ore reached approximately 70%, exceeding expectations, with the remaining ore from this body stockpiled in the third quarter.

The Pilar mine processed 96,020 tonnes of ore in the second quarter, with an average head grade of 3.30 g/t and a recovery rate of 89%. The company stated that during the quarter, it improved mining flexibility by increasing stope working faces and continuously enhancing the ventilation system, providing support for entering new production areas and improving operational reliability in the second half of the year.

In the first quarter of 2026, Jaguar completed the strategic restart of the Turmalina mine, producing 854 ounces of gold over a 22-day operating period. CEO Luis Albano Tondo stated that the company's focus for 2026 is to expand production, manage the cost structure after completing recovery activities, and convert significant gold resources into sustainable production growth. Adjusted net profit for the first quarter was $10.3 million ($0.12 per share), with revenue increasing 63% year-over-year to $44.6 million.