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It’s been a bumpy start to the year for the VanEck Gold Juniors Index (GDXJ) in what’s typically the best month of the year from a seasonal standpoint, with an average return for the sector of ~2.6% in January over the past 30 years. This is evidenced by the index being down over 11% year-to-date, which is certainly disappointing for investors after gold put together a record eight straight weekly closes above the $2,000/oz level.
With some producers that have reported exceptional 2023 operational results, this is a case of the baby being thrown out with the bathwater. However, for Jaguar Mining Inc. (OTCQX:JAGGF), this was the third consecutive massive miss vs. annual guidance, and with stope ore from Faina still at least six months away, I would expect a mediocre H1 at best at its relatively low grade underground operations. In this update we’ll dig into Jaguar’s Q4 production results, its…
