Jaguar Mining Enterprises Provides Operations Update and Outlook for Cascaronal Project, Jalisco Mexico
© Marketwire 2009
19.10.2009 13:41:02
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Cascaronal Project as well as an outlook on its Mexican operations and
strategy for the Company.
Jaguar CEO Dale Williams commented: "One of the reasons that iron ore is an
enticing area for investment and is attracting attention from investors is
the prospect of increasing demand as steelmakers recover. Recently, Rio
Tinto Group, the third largest mining company in our industry, raised its
2009 forecast after a strong performance in the second and third quarters.
The world's strengthening economy and China's increasing demand for steel
under its economic stimulus program has worked against the push for
lower-priced iron ore, and we plan to begin production on our Cascaronal
Project in time to participate in what we feel will be an upswing in iron
ore prices going forward."
Jaguar is currently finalizing its pre-production plans for the Cascaronal
Project including equipment leases, facilities, transportation and
permitting. During upcoming meetings in Manzanillo, Mexico, senior
management will also be negotiating with buyers in an effort to insure a
smooth and timely transition to full production, scheduled to commence once
permitting has been secured.
With the impending announcement of the Cascaronal Project achieving
commercial production, Jaguar plans to make its mark as a reliable producer
and provider of iron ore to key international markets. Mr. Williams said,
"The iron ore mining and processing experience of our technical team will
be a vital component for a successful transition. Additionally, it is
most important for an iron ore producer to have access to reliable
transportation and port facilities in order to leverage the opportunities
of international demand. Jaguar is in the process of securing both."
Outlook
Jaguar plans to convert the Cascaronal Mine from pre-production to
production, with the mine being brought up to full production within 120
days thereafter. The company anticipates that it will be cash flow positive
at the end of 2010, with revenue of $4.5 million and earnings of $.02 per
share. Thereafter, Jaguar is forecasting a 300% increase in annual revenues
by fiscal year end in 2012 based solely upon the estimated reserves of the
mining leases it currently holds.
Jaguar intends to build upon the platform of assets, production, and cash
flow established over the next 12 months. The growth profile of Jaguar will
include three primary areas of focus: organic growth of production at the
Cascaronal Project; the development of two additional mines in Colima,
Mexico; and potential acquisitions of other junior mining operations.
About Jaguar Mining Enterprises, Inc.:
Jaguar Mining Enterprises, Inc. is an independent mining company engaged in
the acquisition, development, and exploitation of iron ore primarily mined
in Mexico. The Company specializes in the exploitation of iron ore mines
with proven reserves. The Company's strategy is to locate, acquire and
develop mine locations that contain sufficient quantities of iron ore and
require minimal start-up costs. For additional information regarding Jaguar
Mining Enterprises please visit: www.jaguarminingenterprises.com : http://www.jaguarminingenterprises.com
Safe Harbor: Statements regarding financial matters in this press release
other than historical facts are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934, and as that term is defined in the Private
Securities Litigation Reform Act of 1995. The Company intends that such
statements about the Company's future expectations, including future
revenues and earnings, technology efficacy and all other forward-looking
statements be subject to the Safe Harbors created thereby. Since these
statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's actual
results may differ materially form the expected results.
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Contact:
Jaguar Mining Enterprises, Inc.
Dale E. Williams
1860 FM 359, #177
Richmond, TX 77406
Phone: (281) 712-1235
Fax: (281) 520-4378
Email: inquiry@jaguarminingenterprises.com : inquiry@jaguarminingenterprises.com
Website: www.jaguarminingenterprises.com : http://www.jaguarminingenterprises.com
