Jaguar Mining Enterprises Issues Special Letter to Shareholders
September 09 2009 - 4:27PM
Marketwired
Jaguar Mining Enterprises, Inc. (PINKSHEETS: JAGR), an independent
mining company engaged in the acquisition, development, and
exploitation of iron ore primarily mined in Mexico, today announced
that it has issued a Special Letter to Shareholders to update
existing JAGR investors on the current status of Jaguar Mining, and
more importantly, its future growth outlook. Excerpts from the
letter follow:
"Currently, our primary emphasis is to develop an iron ore
reserve containing 20 million metric tons (mt) at our Cascaronal
Project in Jalisco, Mexico. We have completed all necessary studies
and documentation for permitting and expect commence extraction
within the next 45 days. Our plans are to convert the Cascaronal
Mine from pre-production to production, with the mine being brought
up to full production within 120 days thereafter. Once mining
operations have commenced, we believe that over 2,000 tons of iron
ore can be mined daily resulting in over $4.5 million in revenues
over the next fiscal year with earnings of nearly $1 million."
"In spite of recent market volatility, we expect that rising
worldwide demand will likely produce a tight market into next year.
Iron ore prices are normally set in annual talks between major
suppliers and customers. As they have been unable to agree upon a
benchmark price, iron ore is being sold on the open market. Prices
spiked in early August, but we have seen a decline since then. The
company's policy of strict fiscal discipline and cost control will
help us weather these up and down prices we're now seeing, and
allow us to be profitable as we move forward."
The full shareholder letter can be viewed on Jaguar Mining's
website at: www.jaguarminingenterprises.com
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
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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For all Inquiries: Please contact a Managing Member of Microcap
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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 Website:
www.jaguarminingenterprises.com
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