Dallas, Texas 10/21/2013 (Financialstrend) – AuRico Gold Inc (NYSE:AUQ) announced the preliminary Q3 operational-results. The company reported the 5th consecutive-quarter of production growth. The Young-Davidson & El Chanate mines reported production & cash-costs results that met projections. Commissioning of the shaft-hoisting system situated at the Young-Davidson underground-mine is the key project milestone. This milestone will support increased underground-productivities and also favorable unit-cost efficiencies over the mine life. It will reach completion in October, facilitating the scheduled 31 October declaration of commercial-production.
In Friday’s trading, AuRico Gold Inc (NYSE:AUQ) rose by 0.72%. The opening price of the shares was $4.15, which climbed to an intraday high of $4.27 and dipped to a close of $4.17. Approximately 3.51 million shares were traded on Friday while an average volume of 3.66 million shares were traded over a 30 day period. The 52-week low of AuRico Gold Inc (NYSE:AUQ) shares is $3.46 and its 52-week high is $8.53. The company has a market capitalization of $1.03billion.
About the company
AuRico Gold Inc (NYSE:AUQ) is a gold producer based in Canada. It has projects and mines in the North American region. Along with its subsidiaries, the company is involved in mining, developing exploring, and acquiring resource properties. Its core-operations include its Young-Davidson gold-mine that is situated in northern Ontario and its El Chanate mine that is in Sonora State, in Mexico. AuRico Gold Inc (NYSE:AUQ)’s project pipeline is inclusive of advanced development-opportunities in British Columbia and Mexico.
The Young-Davidson gold-mine is situated near Matachewan, which is around 60 km to the west of Kirkland Lake in the Northern Ontario region. It is in the southwestern-part of the Abitibi Greenstone Belt. This property is made up of contiguous mineral-leases & claims that total 11,000 acres.