Aurizon Mines' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Aurizon Mines Ltd. (AZK)

Q2 2012 Earnings Call

August 09, 2012 11:00 am ET

Executives

George Paspalas - President & CEO

Ian Walton - EVP & CFO

Martin Bergeron - VP, Operations

Analysts

Ovais Habib - Deutsche Capital

Jeff Wright - Global Hunter Securities

Derek Macpherson - National Bank Financial

Chris Martino - Desjardins Capital Markets

Michael Fowler - LOM

Presentation

Operator

Hello. Good morning ladies and gentlemen. Thank you for standing by. Welcome to Aurizon Mines Ltd. Conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. (Operator Instructions) At this time, I would like to turn the conference over to George Paspalas, President and CEO. Please go ahead, sir.

George Paspalas

Thank you operator, good morning everyone and welcome to the Aurizon Mines second quarter 2012 conference call and webcast. We'll be making some forward-looking statements today and I'll draw everyone’s attention to the forward-looking statements and cautionary note to you as listeners in the presentation and also available on the website.

Participating on the call with me today will be Ian Walton, Executive Vice President and CFO, and Martin Bergeron, Vice President of Operations. Also on the call is Julie Kemp, Corporate Secretary and Jennifer North, Manager, Investor Relations.

We’re starting our presentation on slide five. Quarter two 2012 was a good quarter from Casa with EBITDA at $25.4 million and net profit of $8.6 million corresponding to $0.05 per share which was 29% higher in the corresponding quarter in 2011. We crossed the quarter with approximately $290 million in cash and have started to build on this balance after the 2011 tax payments earlier in the year.

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