Jaguar Mining reported consolidated gold production of 13,057 ounces for the second quarter ended June 30, 2026, representing a 19% increase compared to 10,973 ounces produced in the same period of 2025.

The production growth was driven by the regulated ramp-up of the MTL Mining Complex following the resumption of operations, alongside consistent output from the Pilar Mine. Consolidated production for the quarter comprised 9,063 ounces from Pilar and 3,994 ounces from Turmalina. Consolidated ore processed increased 58% to 146,210 tonnes at an average head grade of 3.17 g/t Au. Pilar processed 96,020 tonnes at 3.30 g/t Au with an 89% recovery rate, while Turmalina processed 50,190 tonnes at 2.94 g/t Au with an 84% recovery rate, contributing roughly 31% of total output.

Revenue rose 43% to $51.4 million, compared to $35.8 million in Q2 2025, supported by a 35% increase in the average realized gold price to $4,391 per ounce and a 6% increase in gold ounces sold to 11,694 ounces. Jaguar generated $17.4 million in adjusted net income, up from $16.3 million in Q2 2025, while adjusted EBITDA reached $30.7 million. The company generated $6.6 million in free cash flow, lifting its cash and cash equivalents to $74.0 million.

“Turmalina's ramp-up and continued strong performance at Pilar came together this quarter to drive higher production, revenue and cash flow, while our balance sheet remained solid to fund the exploration program, the Santa Isabel Mine rehabilitation work, and licensing progress at the Onças de Pitangui development project”

— Luis Albano Tondo, Chief Executive Officer

Jaguar holds the second-largest gold land position in the Iron Quadrangle with over 42,000 hectares. Proven and probable mineral reserves increased to 858,000 ounces across 6,861 kilotonnes at 3.89 g/t Au as of December 31, 2025, compared to 454,000 ounces reported for the 2022 mineral reserve statement.

For the full year 2026, Jaguar maintains its consolidated gold production guidance in the range of 50,000 to 60,000 ounces from its current assets. Underground rehabilitation, dewatering, and diamond drilling continue at the Santa Isabel Mine within the Paciência Mining Complex, where the company plans to publish a formal NI 43-101 technical report in 2027.

Read the full announcement: Jaguar Mining Delivers Strong Second Quarter 2026 Results Reflecting Increased Production at the Turmalina Mine, Minas Gerais, Brazil