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AuRico Reports Q1 Financial Results

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NYBob Member Profile NYBob Member Level 
Monday, May 14, 2012 3:13:27 PM
Re: NYBob post# 553 Post # of 640 
AuRico Reports Q1 Financial Results
Production Increases 17%, and Margins Increase 20% at its Core



North American Assets, Company-Wide
Adjusted Net Earnings Increase 81%
Toronto: May 9, 2012:

AuRico Gold Inc.
(TSX: AUQ) (NYSE: AUQ), (“AuRico” or “the Company”) is pleased to
report financial results for the first quarter ended March 31, 2012. All amounts are in U.S. dollars unless otherwise
indicated.
First Quarter Financial Highlights
For the first quarter, the Company reported the following
results, inclusive of discontinued operations unless
otherwise noted:

• Revenues of $177.3 million, a 152% increase over 2011

• Earnings from mining operations
1
of $74.9 million, an increase of 151% over 2011, including earnings from
mining operations from core North American assets

2
of $47.8 million
• Adjusted net earnings

3
of $57.8 million, or $0.21 per share

• Cash position of $113 million, prior to anticipated cash proceeds of more than $155 million, equity shares of
$110 million, and future contingency payments relating to the divestiture of the Fosterville, Stawell and El Cubo
operations

• Operating cash flow of $64.6 million, or $0.23 per share, an 92% increase over 2011

• Operating cash flow of $48.0 million, or $0.17 per share from core North American assets

• Record production of 80,873 gold ounces and 1.1 million silver ounces, or 102,412 gold equivalent ounces
using the actual gold equivalency ratio of 51:1, a 105% increase over 2011

• Production from core North American assets of 40,986 gold ounces and 902,943 silver ounces, or 58,470 gold
equivalent ounces using the actual gold equivalency ratio of 51:1, a 17% increase over 2011

• Cash costs of $770 per gold equivalent ounce (realized)

• Cash costs of $493 per gold equivalent ounce (realized) at the Company’s core North American assets

• Average realized margin of $930 per ounce, or 55%


• Average realized margin of $1,207 per ounce, or 71%, from the core North American assets

“During the first four months of 2012 the Company has
continued to deliver on its strategic plan, advancing the

Young-Davidson mine to production and streamlining our asset base through the divestiture of non-core assets.

Our exclusive focus is now on our portfolio of three large, low-cost, prooducing operations as well as exploration
and development properties located in Canada and Mexico.” stated René Marion, Chief Executive Officer. He
continued, “On April 30
th
, Young Davidson completed its first gold pour.

The commissioning process is proceeding better than anticipated
with mill throughput currently exceeding targeted levels.

We remain on track to declare commercial production in
early Q3 with a re-engineered mine plan that is expected
to deliver annual
production of 250,000 ounces by 2016.”

Young-Davidson Highlights

• Announced first gold pour on April 30.

• Averaged an open pit mining rate of over 27,000 tonnes per day in April

• Averaged more than 5,000 tonnes per day at the Young-Davidson mill facility (from April 19 to 30)

• Established a million tonne stockpile of ore ahead of the mill facility

http://www.auricogold.com/



My opinions are my own and and DD I post should be confirmed as unbiased
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