AuRico Gold Reports Q4 Net Loss of $7.4 Million

Mining Weekly reported that AuRico Gold Inc.’s (TSX:AUQ,NYSE:AUQ) stock price took a tumble the day after financial results revealed that the company lost a net amount of $7.4 million in Q4. The loss has mostly been attributed to an impairment charge for the company’s El Chanate mine.

As quoted in the market report:

Earnings for the quarter were impacted by a noncash goodwill impairment charge related to the El Chanate mine, which AuRico said was identified as part of the company’s normal-course value impairment testing. The charge had no impact on the budgeted life-of-mine production or cash flow profiles.

To view the whole Mining Weekly report, click here.