This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AuRico Reports Second Quarter Financial Results

TORONTO, August 8, 2013 /PRNewswire/ --

(All amounts are in U.S. dollars, unless otherwise indicated)

AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), ("AuRico" or the "Company") reports financial results for the three and six months ended June 30, 2013. The Company will host a conference call on Friday, August 9, 2013 beginning at 8:30 a.m. Eastern Time (details below).

Financial Highlights

For the second quarter, the Company reported the following results:
  • Revenues of $57.7 million
  • Adjusted net earnings [ (1)] of $6.1 million, or $0.02 per share
  • Net loss of $103.5 million, or ($0.42) per share, including non-cash impairment charges and net realizable value adjustments of $104.9 million, or ($0.42) per share, net of taxes
  • Production of 48,003 gold ounces [ (2)]
  • Cash costs of $655 per gold ounce [ (1)]
  • All-in sustaining costs of $1,189 per gold ounce [ (3)]
  • Operating cash flow before changes in working capital [ (1)] of $18.7 million, or $0.08 per share
          See the table at the end of this press release for a reconciliation
          of adjusted net earnings and adjusted operating cash flow and refer
    [(1)]            to the discussion of Non-GAAP measures below.
          Includes 9,817 pre-production gold ounces produced at Young-Davidson
    [(2)]             during the three months ended June 30, 2013
          See the discussion of All-in Sustaining Costs and Non-GAAP measures
    [(3)]                           provided below.

Recent Highlights
  • Mr. Alan Edwards was appointed non-executive Chairman of the Board effective July 1, 2013. Mr. Edwards was appointed as an independent director on May 13, 2010.
  • The Company's quarterly dividend payment of $0.04 per share for the second quarter was paid on July 29, 2013. The Company also introduced an optional dividend reinvestment plan to acquire additional common shares by reinvesting cash dividends. Further information on the Company's dividend reinvestment plan is available through the following link: The next dividend payment is scheduled to be paid on October 29, 2013 to shareholders of record on October 11, 2013.

"With another quarter of solid results reported from both operations we continue to demonstrate the potential of our high quality asset base. The mid-shaft crushing and hoisting system is progressing on schedule and remains on target to commission during September. The shaft and hoisting system is the key catalyst that will drive significant improvements in underground productivities and further cost efficiencies," stated Scott Perry, President and Chief Executive Officer. He continued, "With quality operations, a strong cash position and a fully-funded growth profile, the Company is well positioned for success even in this challenging market environment."

Impairment Charges and Net Realizable Value Adjustment

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs