- Jaguar Mining released its preliminary Q1 results this week, reporting a significant drop in gold production on a year-over-year basis.
- This tough quarter is due to a sharp increase in COVID-19 related cases in the country and on-site, translating to a loss of productivity.
- Unfortunately, this soft start to the year has likely taken the ~100,000-ounce target off the table, and it's possible we could see a decline in production year-over-year.
- Given Jaguar's smaller reserve base relative to peers and increased risks, given that it's in one of the countries hit hardest by the pandemic, I continue to see better opportunities elsewhere.
For further details see:
Jaguar Mining: COVID-19 Related Headwinds Take A Bite Out Of Output