AuRico Reports Fourth Quarter and Annual Financial Results

About this update from Alamos Gold Inc.

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, March 25, 2013 /CNW/ - AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), (\"AuRico\" or the \"Company\") reports financial results for the three\n months and year ended December 31, 2012. All amounts are in U.S.\n dollars. The Company will host a conference call on Tuesday, March 26,\n 2013 beginning at 10:00 a.m. Eastern Time.\n\n\nFinancial Highlights - Continuing Operations(1)\n\n\n\nFor the fourth quarter, the Company reported the following results from\n continuing operations:\n\n\n\nRevenues of $63.1 million\n\n\nAdjusted net earnings(2) of $13.7 million, or $0.05 per share\n\n\nNet loss of $7.4 million, or $0.03 per share, prior to a $127.0 million\n non-cash goodwill charge related to the El Chanate mine, as provided\n under IFRS accounting standards\n\n\nProduction of 41,145 gold ounces(3)\n\n\nCash costs of $628 per gold ounce\n\n\nOperating cash flow (before changes in working capital) of $31.1\n million, or $0.11 per share\n\n\n\nFor the full year, the Company reported the following results from\n continuing operations:\n\n\n\nRevenues of $163.6 million\n\n\nAdjusted net earnings(2) of $34.7 million, or $0.12 per share\n\n\nNet earnings of $29.2 million, or $0.10 per share, prior to a $127.0\n million non-cash goodwill charge related to the El Chanate mine, as\n provided under IFRS accounting standards\n\n\nProduction of 127,283 gold ounces(3)\n\n\nCash costs of $516 per gold ounce\n\n\nOperating cash flow (before changes in working capital) of $39.1\n million, or $0.14 per share\n\n\n\nEarnings for the quarter and full year were impacted by a non-cash\n goodwill impairment charge related to the El Chanate mine. This\n non-cash charge was identified as part of the Company's normal course\n value impairment testing. The charge has no impact on budgeted life of\n mine production or cash flow profiles.\n\n\n\"The sale of Ocampo in mid-December marked the completion of a two-year\n initiative aimed at improving the quality of our asset base in order to\n reposition the Company for low cost, quality production and deliver\n reliable, sustainable and consistent performance going forward. We have\n delivered on our commitment to shareholder friendly initiatives through\n the completion of a $300 million share buy-back in late January, as\n well the recent implementation of a peer leading ongoing dividend\n polic...

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