Jaguar Mining Reports Financial Results for the Third Quarter 2022 - Seite 2

Jaguar has paid quarterly dividend for the past 9 consecutive quarters, which has yielded our shareholders a 5%+ annualized return and has spent over $35 million to identify and develop additional resources. The current global macro economic environment has resulted in a weakening of the gold price and global inflationary pressures on cost have resulted in operating margin compression. The Board and Management have decided to suspend the quarterly dividend for the time being in order to prioritize the maximization of cashflow to invest in growth capital, in particular the advancement of the Faina project and convert our exploration success into value enhancing propositions for our shareholders.

The Board of directors will continue to review, among other things, the Company's budget, cash flow forecast, growth opportunities and market conditions on a quarterly basis to determine whether dividends will be declared on Shares for future quarters."

Q3 2022 Financial Results

Foto: Accesswire

Foto: Accesswire

Non-GAAP performance

The Company has included the following Non-GAAP performance measures in this document: cash operating costs per ounce of gold sold, all-in sustaining costs per ounce of gold sold, average realized gold price (per ounce of gold sold), sustaining capital expenditures, non-sustaining capital expenditures, adjusted operating cash flow, free cash flow, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA and working capital. These Non-GAAP performance measures do not have any standardized meaning prescribed by IFRS and, therefore, are not comparable to similar measures presented by other companies.

The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. More specifically, Management believes that these figures are a useful indicator to investors and management of a mine's performance as they provide: (i) a measure of the mine's cash margin per ounce, by comparison of the cash operating costs per ounce to the price of gold; (ii) the trend in costs as the mine matures; and (iii) an internal benchmark of performance to allow for comparison against other mines. The definitions of these performance measures and reconciliation of the Non-GAAP measures to reported IFRS measures are outlined below.

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