AuRico Gold Inc. (AUQ) Posts Preliminary Q4 Sales Well Below Expectations

AuRico Gold Inc. (NYSE: AUQ) announces preliminary results for the fourth quarter. All amounts are in U.S. dollars unless otherwise indicated. Gold equivalent grades are based on a gold equivalency ratio of 55:1 unless otherwise indicated.

The Company reported:

• Revenues of $154 million, an increase of 38%, or $42 million, over the previous quarter, versus the consensus of $193.37 million.
  
• Production of 72,119 gold ounces and 1.1 million silver ounces, or 92,815 gold equivalent ounces using the actual gold equivalency ratio of 54:1 realized during the quarter.
  
• Cash cost of $680 per gold equivalent ounce using the actual gold equivalency ratio of 54:1 realized during the quarter. Included in the costs are the higher cash costs reported from the recently acquired Australian-based mines, the El Cubo mine as it depletes high cost stockpiles and converts mining methods as well as costs associated with the mine re-sequencing at the Ocampo mine.
  
• Increased quarter-end cash balance of $179 million.

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