Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold producer operating in Brazil's Iron Quadrangle greenstone belt (Minas Gerais), with three gold mining complexes: MTL (Turmalina mine and plant), Caete (Pilar and Roca Grande mines, Caete plant), and Paciencia (Santa Isabel mine, on care and maintenance since 2012, under review to restart in 2026). Pilar was Jaguar's sole operating mine through 2025; Turmalina returned to operating status in Mar 2026 after an embargo lift. Q2 2026 consolidated production was 13,057oz gold (+19% YoY: 9,063oz Pilar, 3,994oz Turmalina), with 2026 guidance reaffirmed at 50,000-60,000oz. Consolidated Proven & Probable Mineral Reserves stand at 858koz (+12% net of depletion) as of the company's Jun 2026 technical report update; Pilar alone grew 49% to 286koz (2,494kt at 3.57 g/t Au) in a Mar 2026 update. Luis Albano Tondo is CEO; Daniel Karrqvist is CFO (appointed Jan 2026).
Notable vs. Peers
- Financials score of 9.1/10 is stronger than the peer average of 6.5/10.
- All-in sustaining cost of $2,412/oz is 34% higher than the peer producer average of $1,799/oz.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Dec 2005 · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
Jurisdiction (40%)7/10
Jaguar's mines are in Brazil's Iron Quadrangle in Minas Gerais, an established mining jurisdiction with a long operating history.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Pilar Mine.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:7/10
Brazil: jurisdiction score 7/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Executive Officer of Jaguar Mining Inc.
Chief Financial Officer of Jaguar Mining Inc., appointed 7 Jan 2026.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Eric Sprott, the best-known financier in junior precious metals, holds 48.3% of Jaguar (41,186,993 shares, most of them through 2176423 Ontario Ltd.), per the company's June 2026 management information circular. That is a single, very large specialist position, not broad retail ownership. American Century's Global Gold Fund also holds a small stake, and the CEO, Luis Albano Tondo, bought shares on the market in May 2026. No mining company holds equity, and institutional ownership is only about 3%.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Jaguar Mining is a gold producer in the Iron Quadrangle of Minas Gerais, Brazil, with three mining complexes: MTL (the Turmalina mine and plant), Caeté (the Pilar and Roca Grande mines and the Caeté plant) and Paciência (the Santa Isabel mine, on care and maintenance since 2012). Pilar was its only operating mine through 2025, and Turmalina resumed after regulators approved its restart on 9 March 2026, following a suspension after a December 2024 incident at a tailings pile. Company-wide measured and indicated resources are 1,797,000 oz of gold (13,575 kt at 4.12 g/t), inclusive of the 858,000 oz proven and probable reserve, as at 31 December 2025. Q2 2026 production was 13,057 oz (9,063 oz from Pilar and 3,994 oz from Turmalina), and 2026 guidance is 50,000-60,000 oz. All-in sustaining cost was US$2,412/oz in Q1 2026, raised by the Turmalina restart.