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Jaguar Mining Inc. Message Board

  • diehlr1 diehlr1 Feb 24, 2012 9:02 AM Flag

    Just Some Thoughts...

    For those that have to be spoon fed information on companies, you might find this of interest.
    I hope I don’t mess anything up, but don’t be too surprised if I do 

    Regarding the 4th Quarter and FY2011 Results (which by the way for you mentally challenged posters, won’t be seen until about March 15-21 (estimate)),

    On January 31st the company already provided a preliminary update of operations.

    FY2011 gold production came in at 155,764 oz. and they sold 155,525 oz. An increase of 13 percent over 2010. Not spectacular, but for a startup company they seem to be holding their own even with all the equipment problems.
    “The turnaround effort is largely complete at Turmalina and Caeté. Our efforts will be fully focused on Paciência for the next several quarters as changes in equipment and increased definition drilling will allow for greater selectivity and reduced mining dilution."

    In the fourth quarter they produced 33,397 oz. and sold 34,157 oz.
    “The lower quarterly production had been anticipated due to the continuing repairs to the ball mills at Paciência and increased throughput of lower grade development ore at all three operations.”
    To be honest I was a little disappointed in the quarterly total. The 3rd quarter the came in at 40,660 oz. I expected them to come in a little closer to those 3rd quarter results. I know they told us that Paciancia was going to be hurt through 1stQtr, FY12, but they were averaging about 11,000 oz/qtr before.

    “Mining operations were further hampered by severe rainy weather that stopped production for several days at the Roca Grande surface mine at the Caeté operation. In addition road wash outs hampered ore haulage to the Caeté plant from the Pilar mine”

    4th Qtr FY 2011
    Turmalina 13,470 61,400
    Paciancia 6,632 39,581
    Caete 13,295 54,783
    Total 33,397 155,764

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    • 1...To pick up a few more shares.

      2...To remember that patience is the watch word.

    • For those on this board that are expecting some kind of positive gain, etc. – you’re kidding right ???

      Every available nickel is being spent on the Gurupi Project. This company isn’t even close to being at a point of positive gains – it’s purpose in life right now is to search for, find, and exploit additional product sources. So if you are looking for dividends you are looking in the wrong company.

      I fully expect losses for the quarter and the FY – I’d be disappointed if I found out that they were feeding a savings account – that comes much later. For now –EXPAND, EXPAND, EXPAND….

      I don’t see any surprises based on the information in the 3rd Quarter results.
      The “former” CEO (who was always pushing the envelope in his guidance (original guidance was 195,000-205,000) – I have no idea why – and he never maintained an ounce of reserve), finally lowed the guidance to 155,000-163,000. He should have lowered his pie-in-the-sky estimates when they ran into the first equipment problems.

      I’m a little disappointed in the progress at the Paciancia processing plant. Granted, in the 3rd Quarter they said “Recommended changes and adaptations to the drive components of the mills are being implemented in phases and will cause periodic interruption of milling operations during the fourth quarter. The full re-design and repair of the drive components in both mills is expected to be completed in the first quarter of 2012.”
      I expected somewhat more than the 6,632 oz. even with the on-going replacements/repairs – maybe 8,000-9,000.
      Hopefully during the March conference call we will get some decent news on the completion of the repairs.

      It will be extremely interesting to see what the guidance is out of this annual report.

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