Bigbad, they raised cash for Developement CapExp of their underground mines. This will continue and in the long run is a wise way to spend money. Most expect cost of developement to rise, so by doing it as early as possible, the company saves money in the long run. Just doesn't look very good on the earnings report.
# Revenue of $170.8 million, an increase of 21% over 2009.
# Gross profit of $12.4 million, a decrease of 71% from 2009, largely due to higher operating costs caused by the stronger Brazilian real and geo-mechanical operational issues at Jaguar's Turmalina mining operation.