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AuRico Gold Inc. Message Board

  • sugardaddyandlong sugardaddyandlong Jun 11, 2013 8:49 AM Flag

    All you naysayers here just like an IDOIT WIND

    On May 9, 2013, AuRico Gold Inc. (AuRico Gold) released its Q1 2013 results. Revenues were up 95.0% YoY to $64.9 million. Adjusted earnings were up 7.9% YoY to $10.9 million. Scott Perry, AuRico Gold's President and CEO, said, "We delivered another quarter of solid results, paid our first quarterly dividend and reported continued progress at the Young-Davidson mine. With the reaming of the second leg of the shaft completed in mid-April, we are well positioned for the targeted commissioning of the mid-shaft hoisting facility during the third quarter." Perry continued, "The Company's strategy of divesting non-core, high cost assets in 2012 has established a peer leading balance sheet and a fully funded growth profile. In addition, the divestments have resulted in a significant reduction in G&A as well as the elimination of significant capital investment obligations associated with the divested assets. Going forward, we will continue to focus on delivering quality organic production growth that drives margins and free cash flow generation."

    Sentiment: Strong Buy

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