AuRico Gold Inc. (TSX: AUQ,NYSE:AUQ) reported their financial results from the first quarter, 2013.
As quoted in the press release:
For the first quarter, the Company reported the following results:
Revenues of $64.9 million
Net earnings of $18.3 million, or $0.07 per share
Adjusted net earnings of $10.9 million, or $0.04 per share
Au Rico’s President and CEO, Scott Perry, said:
The Company’s strategy of divesting non-core, high cost assets in 2012 has established a peer leading balance sheet and a fully funded growth profile. In addition, the divestments have resulted in a significant reduction in G&A as well as the elimination of significant capital investment obligations associated with the divested assets. Going forward, we will continue to focus on delivering quality organic production growth that drives margins and free cash flow generation.