Jaguar Mining Inc.

Notable vs. Peers

• Financials score of 8.5/10 is stronger than the peer average of 6.4/10.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Jaguar received the implementation licence (installation permit) for the Turmalina Gold Project in December 2005, following its September 30, 2004 acquisition of the project from AngloGold Ashanti. Exact day not confirmed from available sourcing -- recorded reached-but-undated. · Source
2. Construction decision (FID)

   Dec 2005 · Jaguar's subsidiary MTL (Mineração Turmalina Ltda.) obtained a secured financing facility of up to US$14,000,000 from RMB International, used primarily to finance construction and start-up of the Turmalina Mine -- the company's real decision/financing-commitment event enabling development, consistent with the ARTG/EDR financing-commitment convention used in the Task #305/#430 batch1/batch3 scripts. · Source
3. Construction start

   Reached — date not disclosed · Construction of the Turmalina mill and processing facility proceeded through 2006, with Jaguar commencing mining operations at the Turmalina deposit in late 2006, following the December 20, 2005 RMB International construction financing. No single dated 'construction start' release found; recorded reached-but-undated. · Source
4. First pour / production

   Reached — date not disclosed · First gold pour achieved at Turmalina in January 2007, following completion of the mill/processing facility construction in 2006 and the August 2005 feasibility study. Exact day not confirmed from available sourcing -- recorded reached-but-undated. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists across a genuine multi-mine portfolio: Pilar (Caete Complex, Minas Gerais, continuous production since approximately 2002, 40,012oz gold in 2025) and Turmalina (MTL Complex, continuous production for many years, most recently suspended after a December 2024 incident at the Satinoco dry-stacked tailings facility and receiving regulatory approval to resume operations 2026-03-09 -- a resumption of an already-producing mine, not a new milestone). No specific original declaration date was found for either mine individually. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · 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.

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 the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.