AuRico Gold Inc. (TSX: AUQ, NYSE:AUQ) announced their 2012 financial results and updates to Kemess feasibility study results.
As quoted in the press release:
The Company has also reported copper reserves of 619 million pounds at the Kemess Underground Project at a reserve grade of 0.28%, using a copper price of $3.00 per pound.
AuRico’s President and CEO, Scott Perry, said:
The Company’s efforts have been focused on improving the quality of our asset base and this focus extended to improving the quality of our reserve base as well. We have adopted a conservative approach by holding cutoff grades constant, which has resulted in higher grade and higher margin reserve ounces.