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Jaguar aims to produce up to 110,000 ounces of gold in FY'17, invest US$8M

Jaguar Mining Inc. expects its gold production in 2017 to increase about 10% compared to 2016 to a total of between 100,000 ounces and 110,000 ounces, it said on Dec. 21.

The company's cash operating costs per ounce sold are expected to come in at between US$720 and US$755, while the all-in sustaining costs per ounce sold are expected to range from US$900 to US$1,000.

Under its growth exploration pipeline initiative, the company intends to invest US$7.5 million to US$8.0 million and focus on brownfield exploration targets to look for new mineral resources.

Results from the drilling at the Turmalina and Pilar gold mines in Brazil are expected in the second half of 2017, the company noted.