Aurico Gold Preliminary Q1 Results Show Production, Costs in Line with Forecasts

Aurico Gold (NYSE: AUQ) announced preliminary operational results for the first quarter, including cash costs and productions keeping in line with forecast at both of their operations.

As quoted in the press release:

Recent Highlights:

• The Company announced Proven and Probable Mineral Reserves of 6.8 million gold ounces (201,695 tonnes at 1.05 g/t) as at December 31, 2012, a 1.69 million ounce increase over 2011, primarily driven through reserve additions reported from the Kemess Underground Project.
• The Company announced results from the Kemess Underground feasibility study that surfaces additional option value and outlines the development of an underground block cave operation with average annual production of 105,000 ounces of gold and 44 million pounds of copper at cash costs of $213 per ounce of gold, net of by-product credits, over a mine-life of approximately 12 years.

Aurico’s President and CEO, Scott Perry, said:

In the first quarter both assets again reported solid production results that are on track with targeted levels. The El Chanate mine delivered another quarter of consistent and stable results and our cornerstone Young-Davidson mine continued to achieve productivity levels that met or exceeded planned levels.

To view the whole press release, click here.