19:56:49 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



AuRico Gold Inc
Symbol AUQ
Shares Issued 247,102,445
Close 2013-10-11 C$ 3.62
Market Cap C$ 894,510,851
Recent Sedar Documents

AuRico produces 48,902 oz Au in Q3

2013-10-15 08:44 ET - News Release

Mr. Scott Perry reports

AURICO GOLD ANNOUNCES PRELIMINARY THIRD QUARTER OPERATIONAL RESULTS

AuRico Gold Inc. has released its preliminary third quarter operational results. All amounts are in U.S. dollars unless otherwise indicated.

AuRico reported its fifth consecutive quarter of production growth, with the Young-Davidson and El Chanate operations reporting production and cash costs results that were in line with plan.

Commissioning of the shaft hoisting system at the Young-Davidson underground mine is a key project milestone that will support increased underground productivities and favourable unit cost-efficiencies over the life of the mine and will be completed in October, facilitating a scheduled Oct. 31 declaration of commercial production.

                              PRELIMINARY 2013 THIRD QUARTER OPERATIONAL RESULTS 

                            First quarter  Second quarter   Third quarter       YTD as of    2013 guidance
                           March 31, 2013   June 30, 2013  Sept. 30, 2013  Sept. 30, 2013
Young-Davidson
Gold ounces produced               28,281          29,252          30,099          87,632  120,000-140,000
Total cash costs per ounce           $694            $716            $662            $691        $575-$675
El Chanate
Gold ounces produced               17,889          18,751          18,804          55,444    70,000-80,000
Total cash costs per ounce           $563            $602            $588            $585        $550-$600
Consolidated results
Gold ounces produced               46,170          48,003          48,902         143,075  190,000-220,000
Total cash costs per ounce           $635            $655            $626            $639        $565-$645

"The October commissioning of the shaft and hoisting system and the subsequent declaration of underground commercial production will represent a major milestone for the company as this significant achievement will be pivotal in unlocking the potential of the Young-Davidson mine and positioning the company for the future," stated Scott Perry, chief executive officer of AuRico. He continued: "The Young-Davidson team has delivered one of the smoothest commissioning periods in recent years and we are pleased and encouraged by the steady progress being reported over the past number of quarters. The company remains well positioned to deliver quarter-over-quarter productivity improvements going forward and remains on target to meet company-wide production and cash costs guidance for the year."

Third quarter dividend declared

On Sept. 17, 2013, the board of directors declared the company's quarterly dividend payment of four cents per share for the third quarter ended Sept. 30, 2013, payable on Oct. 29, 2013, to shareholders of record at the close of business on Oct. 11, 2013. Further information on the company's dividend reinvestment plan (DRIP) is available on the company's website.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.