femsnopes thanks, well Hecla's offer for Aurizon Mines Ltd (AZK) Ref., the AZK held $204.2 million of cash and cash equivalents as at December 31, 2012, a $9.3 million decrease compared to $213.5 million as at December 31, 2011.
In 2012, positive cash flow from operating activities of $62.3 million and financing activities of $5.8 million was more than offset by $77.4 million of investing activities as described below.
Net working capital, calculated as total current assets less total current liabilities, was $204.6 million as at December 31, 2012, compared to $197.8 million as at December 31, 2011.
The AZK held no financial debt as at December 31, 2012.
AZK 2012 FINANCIAL HIGHLIGHTS
Revenue of $224 million from 133,990 ounces of gold sold at an average realized price of US$1,658 per ounce
Net profit of $32 million, or $0.19 per basic share, and EBITDA of $92 million
Cash and cash equivalents balance of $204 million and debt-free at year-end
Hecla Mining has strongly urged its shareholders to reject the Alamos offer in regards to the acquisition of Aurizon Mines Ltd.
With Hecla's offer superior to Alamos by CAD$0.27, it also includes a 68% higher cash component. President and Chief Executive officer, Phillips S. Baker, Jr. said, "Tendering to the Alamos offer risks depriving Aurizon shareholders of the premium our offer represents as well as the significant upside we see in a Hecla-Aurizon combination. As a North America focused precious metals producer, we believe the combined company will deliver increased value well into the future." Separately, Aurizon today reiterated its recommendation that shareholders support the Hecla transaction and do not tender into the Alamos offer or withdraw tenders already made. Aurizon urged shareholders who have tendered to immediately withdraw tendered shares. The Full Research Report on Hecla Mining Company - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [ http://www.investors-alliance.com/r/full_research_report/2b99_HL ]
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