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AuRico Gold Inc. Ordinary Share Message Board

  • domrob821 Oct 15, 2012 2:32 PM Flag

    AuRico Reports Q3 Production Results

    Tried posting link to this report twice today but posts vanish. So instead of link, here's the copy.

    AuRico Reports Q3 Production Results and Update on Young-Davidson

    AuRico Gold Inc. (AUQ.TO), which fell 4.5% Friday, today reported the preliminary operational results for the third quarter ended September 30, 2012 and provided an update on the Young-Davidson mine. All amounts are in U.S. dollars.
    Company Wide Third Quarter Production:
    During September, the first month of commercial production, the Young-Davidson mine produced 9,903 gold ounces at cash costs of $639 per gold ounce.
    Production at the El Chanate mine for the quarter was 19,388 ounces of gold at cash costs of $434 per gold ounce.
    Production at the Ocampo mine for the quarter was 21,916 gold equivalent ounces at cash costs of $754 per gold equivalent ounce using the realized gold equivalency ratio of 55:1.
    Young-Davidson Update:
    Commercial production was declared at Young-Davidson effective September 1, 2012. Commercial production was declared once the mine achieved previously established commissioning thresholds, which included the mill averaging a minimum throughput level of 5,100 tonnes per day, the open pit averaging 29,750 tonnes per day of ore and waste mining, both over a 30-day period, as well as the commissioning of the flotation and gravity circuits.
    Underground long-hole drilling contractors have been mobilized and stope preparation in the Upper Boundary Zone is progressing on schedule. Production from the initial two stopes is expected to average approximately 1,000 tonnes per day with grades averaging up to 3.5 grams per tonne gold.
    The raise boring set up of the second leg (450 metres) of the Northgate shaft began in September. Drilling of the pilot hole has started and will reach a vertical depth of 890 metres (9440 level). The company anticipates hoisting waste by the end of second quarter of 2013 and hoisting ore by the third quarter of 2013 once the mid-shaft crushing circuit is commissioned.
    All the EPCM construction activities related to the infrastructure and process plant have been completed.

    Sentiment: Strong Buy

2.860.00(0.00%)Jul 2 4:03 PMEDT