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Jaguar Mining Announces 2008 Quarterly Operational Results.

International Resource News-22 January 2009-Jaguar Mining Announces 2008 Quarterly Operational Results(C)2009 ENPublishing - http://www.enpublishing.co.uk

International Resource News - 22 January 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Jaguar Mining Inc (TSX: JAG) (NYSE Arca: JAG), a US-based company engaged in gold production, has announced its preliminary 2008 fourth quarter operating performance.

In fourth quarter 2008, the company produced a record 37,916 oz of gold at an average cash operating cost of USD396/oz compared to 20,463 oz at an average cash operating cost of USD405/oz during the same period last year. This represents a production increase of 85% over the comparable quarter in 2007. In fourth quarter 2008 gold sales rose to 35,138 oz at an average price of USD793/oz, 87% above the comparable fourth quarter 2007 gold sales of 18,742 oz at an average price of USD796/oz. Revenue in fourth quarter 2008 has increased by 87% to USD27.8m from USD14.9 million in fourth quarters 2007.For full year 2008, the company has produced a record 115,348 oz of gold at an average cash operating cost of USD429/oz compared to 70,113 oz at an average cash operating cost of USD346/oz in 2007. This represents a production increase of nearly 65%. For 2008, the gold sales totalled 108,944 oz at an average realised price of USD860/oz compared to gold sales of 67,350 oz at an average realised price of USD710/oz for 2007. Revenue for 2008 has increased by 96% to USD93.7m from USD47.8m in 2007.

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Publication:International Resource News (IRN)
Date:Jan 22, 2009
Words:293
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