mick the new symbol for NGX is AUQ AuRico Gold Inc.
- http://investorshub.advfn.com/boards/board.aspx?board_id=9242 AUQ $GOLD TA Intact LT Trend Bull Breakout GOLD Chart TA P&F LT Bullish Price Objective $1960.0/oz next Target http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72648018
inflation is coming our way. That's what I'm worried about.
I'd rather keep my money safe from inflation...
Project Remains on Schedule for Production by the End of Q1 2012 AuRico Gold Inc.
(TSX: AUQ) (NYSE: AUQ), ("AuRico", "AuRico Gold" or "the
Company) is pleased to provide the first monthly status update
on the exciting Young-Davidson mine
located in the prolific Abitibi gold belt in Northern Ontario. The Company remains on schedule to achieve the first gold pour
by the end of the first quarter of 2012.
Young-Davidson Project Construction Update
The Young-Davidson Project remains on schedule nearing
completion of the 18-month pre-production construction phase. Mill processing construction for commissioning is 92% complete
(see figure 1).
Over 900 contractors and employees are working towards
achieving the first gold pour by the end of March 2012.
"The entire operating team at Young-Davidson remains focused
on realizing production by the end of the first quarter and
remains confident that this milestone continues to be
As well, the stockpile of open pit ore will ensure there is
sufficient mill feed as we ramp up to commercial production.
We will continue to provide monthly status reports that will
keep investors up to date with our progress as we move from
construction to commissioning and onward to commercial
production," stated Peter MacPhail, Chief Operating Officer,
Canada and Australia.
He continued, "I would like to congratulate all construction and
operating personnel for recently achieving 1,350,000 man-hours
without recording a lost time injury.
This is a tremendous achievement, particularly on a construction
project of this scale."
The following major project milestones have been achieved:
Mill systems required for initial production are 92% complete.
All required equipment is on site.
Mechanical and electrical / instrumentation construction teams
have started commissioning activities on process equipment
required for initial production, while personnel prepare for
Open pit operations commenced in November 2011 and are ramping
up to targeted levels of 35,000 tonnes per day of ore and
Approximately 160,000 ore tonnes (approximately one-month mill
feed) have already been stockpiled for processing beginning in
Wet commissioning of the mill is on track for early March.
All senior operating personnel are in place.
Completion of the 115 kV power line and successful commissioning
of the site substation.
Underground development continues to focus on ramp and shaft
access to the 9,590 level (760 meters below surface) where the
mid-shaft ore and waste handling systems will be installed.
Raise boring of the second leg of the production shaft is
scheduled to begin mid-year.
About AuRico Gold
AuRico Gold is a leading intermediate Canadian gold and silver
producer with a diversified portfolio of properties in Canada,
Mexico and Australia.
The Company currently has five operating properties including
the Ocampo mine in Chihuahua State, the El Chanate mine in
Sonora State, the El Cubo mine in Guanajuato State, as well as
the Fosterville and Stawell gold mines in Victoria, Australia.
The first production from the exciting Young-Davidson gold mine
in northern Ontario is targeted by the end of Q1 2012 as the
mine ramps up to over 200,000 ounces of annual production by
AuRico's strong pipeline of development and exploration stage
projects includes advanced development properties in Mexico and
British Columbia and several highly prospective exploration
properties in Mexico.
AuRico's head office is located in Toronto, Ontario, Canada.
Image with caption: "Figure 1: Initial Production Model of mill facility. (Items in green have been installed. Installation of items in yellow are in progress.(CNW Group/AuRico Gold Inc.)". Image available at:
Image with caption: "Figure 2: Mill exterior. (CNW Group/AuRico Gold Inc.)". Image available at:
Image with caption: "Figure 3: Mill interior. (CNW Group/AuRico Gold Inc.)". Image available at:
Image with caption: "Figure 4: Open pit operations. (CNW Group/AuRico Gold Inc.)". Image available at:
Image with caption: "Figure 5: Open pit production drill. (CNW Group/AuRico Gold Inc.)". Image available at:
Image with caption: "Figure 6: Headframe construction for Northgate shaft. (CNW Group/AuRico Gold Inc.)". Image available at:
For further information:
Please visit the AuRico Gold website at http://www.auricogold.com
President & Chief Executive Officer
AuRico Gold Inc.
Director of Investor Relations
AuRico Gold Inc.