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.
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