August 9, 2010 / 9:17 PM / in 7 years

UPDATE 1-Jaguar Mining posts Q2 loss on higher operating costs

* Q2 loss $0.07/shr vs EPS $0.12 yr ago

* Q2 revenue up 12.5 pct

* Gold production falls 15 pct

* Sees 2010 production of 163,000 to 168,000 ounces

Aug 9 (Reuters) - Gold producer Jaguar Mining Inc (JAG.TO) reported a quarterly loss, hurt by lower production and higher operating costs at its Turmalina mine in Brazil.

For the second quarter, net loss was $5.9 million, or 7 cents a share, compared with net profit of $9.7 million, or 12 cents a share, a year ago.

Analysts were expecting the company to earn 4 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 12.5 percent to $36.9 million.

Gold sales fell 14 percent to 30,646 ounces at an average price of $1,203 an ounce, down from sales of 35,561 ounces at an average price of $922 an ounce, last year.

Gold production at its Turmalina and Paciencia mines was 30,586 ounces, down 15 percent from a year ago. The company’s operating expenses during the quarter rose 27 percent to $8.3 million.

For 2010, Jaguar Mining said it sees production between 163,000 and 168,000 ounces, while for the third quarter, it sees production of 43,500 ounces.

Shares of the Concord, New Hampshire-based miner closed at C$8.29 Monday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Roshni Menon)

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