Aurizon Mines Ltd fka AZK

[flemsnopes]

Aurizon Reports 2012 Financial Results
7:01a ET March 14, 2013 (Market Wire)
Aurizon Mines Ltd. (TSX: ARZ)(NYSE MKT: AZK) is pleased to announce its unaudited financial results for the year ended December 31, 2012. All dollar amounts are in Canadian dollars unless otherwise stated. Our financial results are prepared in accordance with International Financial Reporting Standards ("IFRS").

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

-- Cash flow from operations of $62 million


2012 OPERATING HIGHLIGHTS

-- Casa Berardi produced 136,848 ounces of gold at total cash costs of US$696 per ounce, in-line with previous guidance of 137,000 ounces and US$695 per ounce

-- 693,859 tonnes of ore milled at unit mining costs of $140 per tonne

-- Replenishment of Casa Berardi mineral reserves to 1,461,000 ounces of gold (net of mining depletion) at December 31, 2012. A successful drilling program resulted in a 6% increase in the average underground mineral reserve grade to 7.1 grams/tonne and an 11% increase in mineral reserves, before mining depletion, compared to 2011.

-- Successful transition from contractor to owner-operated mining at Casa Berardi

-- Self-funded capital investments at Casa Berardi of $75 million are facilitating transition into Zones 118 and 123 and increased operational flexibility

-- Completed the 2012 drill program at Heva, with an in-pit and underground mineral resource estimate to be completed within the first half of 2013

-- Positive feasibility study received on the Joanna-Hosco deposit of the advanced stage Heva-Hosco gold property