JAGGF - Jaguar Mining: A Solid Year Helped By Higher Grades At Pilar
- Jaguar Mining released its Q4 and FY2020 results this week, reporting annual gold production of ~91,100 ounces, up 23% year over year.
- This sharp increase in gold production led to a material improvement in margins, with all-in sustaining cost margins up to $701/oz from negative territory in FY2019.
- Overall, it was an exceptional year for the company, and Jaguar Mining is currently trading at less than 9x trailing-twelve-month free cash flow.
- However, given the company's relatively low reserves of less than 1 million ounces, I continue to see better opportunities elsewhere in the sector.
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Jaguar Mining: A Solid Year Helped By Higher Grades At Pilar