(Kitco News) – Jaguar Mining (TSX: JAG, OTCQX:JAGGF) in the present day introduced that the corporate’s consolidated gold manufacturing decreased 14% to 18,161 ounces in Q1 2021 in comparison with 21,008 ounces in Q1 2020. Grade additionally decreased to three.10 g/t in Q1 2021 in comparison with 4.15 g/t in Q1 2020.
The Pilar mine gold manufacturing decreased 16% to 9,643 ounces in comparison with 11,521 ounces in Q1 2020 and the Turmalina gold manufacturing decreased 10% to eight,517 ounces in comparison with 9,487 ounces in Q1 2020.
The corporate mentioned that it had confronted the best ranges of influence from the COVID-19 pandemic within the first quarter as 447 of the corporate’s roughly 1,570 (~30%) workers and contractors have both contracted the virus, been quarantined, or have been sidelined for well being danger components for various quantities of time.
Jaguar added that its working divisions have been the toughest hit the place the lack of expert drillers and mechanics closely impacted productiveness. The non permanent discount of experience and manpower coupled with the continual reconfiguration of the firm’s working groups and incapability for motion of technical assets between mines have been the key contributing components to Jaguar’s underperformance this quarter, the corporate famous.
Jaguar Mining is a Canadian-listed junior gold mining, growth, and exploration firm working in Brazil with three gold mining complexes and a big land bundle. The corporate’s principal working property are positioned within the Iron Quadrangle, a prolific greenstone belt within the state of Minas Gerais and embody the Turmalina gold mine complicated and Caeté mining complicated (Pilar and Roça Grande mines, and Caeté plant). The Firm additionally owns the Paciência gold mine complicated, which has been on care and upkeep since 2012.
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