US company Jaguar Mining experienced a 96% year-on-year increase in its gold output in the second quarter to 40,758oz, the company reported in its quarterly results release.

The company's net income in Q2 totaled US$9.7mn, compared to a US$0.4mn net loss year-on-year.

"Net income for Q2 benefitted from a 51% increase in the number of ounces of gold sold during the quarter and foreign exchange gains attributable to the company's treasury management program," Jaguar said in its statement.

Cash costs rose to US$466/oz of gold in the recent period from US$455/oz year-over-year, the company said.

In H1 Jaguar's Turmalina mine produced 38,638oz, the Paci¨ºncia mine churned out 30,037oz and the Sabara mine contributed 4,952oz. All three mines are located in Brazil.

The company said it is on track to produce 165,000-175,000oz in all of 2009, of which 85,000-90,000oz is expected of Turmalina, 65,000-70,000oz from Paci¨ºncia and 15,000oz from Sabara.

As for cash costs, Jaguar is forecasting US$411-426/oz for all of this year, Turmalina being the least expensive operation with an expected cost of US$373-395/oz in 2009.