TORONTO, Nov. 7, 2013 /CNW/ – AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), (“AuRico” or the “Company”) reports financial results for the three and nine months ended September 30, 2013. The Company will host a conference call on Friday, November 8, 2013 beginning at 8:30 a.m. Eastern Time (details below).

Financial Highlights

For the third quarter, the Company reported the following results:

• Revenues of $54.3 million
  
• Operating cash flow before changes in working capital⁽¹⁾ of $21.8 million, or $0.09 per share
  
• Adjusted net earnings⁽¹⁾ of $0.8 million, or $0.00 per share
  
• Net earnings of $14.9 million, or $0.06 per share, including reversals of net realizable value adjustments previously recognized of $7.4 million, or $0.03 per share
  
• Production of 48,903 gold ounces⁽²⁾
  
• Cash costs of $628 per gold ounce⁽¹⁾
  
• All-in sustaining costs of $1,210 per gold ounce⁽³⁾

Recent Highlights

• Effective October 31, 2013 the Company declared commercial production of the Young–Davidson underground mine following the successful commissioning of the shaft and hoisting infrastructure. This key milestone will support increased underground productivities and favourable unit cost efficiencies over the life of the mine and will be pivotal in unlocking the potential of the Young–Davidson mine and positioning the Company for the future.
  
• The Company’s quarterly dividend payment of $0.04 per share for the third quarter was paid on October 29, 2013. The Company has 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: www.auricogold.com/DRIP. The next dividend payment is scheduled to be paid on January 29, 2014 to shareholders of record on January 14, 2014.

“With the declaration of commercial production at the Young–Davidson underground mine the Company will begin to deliver steadily increasing annual production growth as the shaft and hoisting system supports increased underground productivities over the coming years,” stated Scott Perry , President and Chief Executive Officer. He continued, “With five consecutive quarters of solid, company-wide results being reported, we continue to demonstrate the potential of our high quality asset base and the depth of our operations team. With two quality operations, a strong cash position and a fully-funded growth profile that is underpinned by the potential of the Young–Davidson mine, the Company is well positioned for significant, sustainable and profitable growth going forward.”

Non-GAAP Measures

The Company uses the measures adjusted net earnings, cash costs per ounce, all-in sustaining costs per ounce, adjusted operating cash flow and net free cash flow in this press release, which do not have a standardized meaning prescribed by International Financial Reporting Standards (“IFRS” or “GAAP”).  They are, therefore, considered to be non-GAAP measures and may not be comparable to similar measures presented by other companies. The non-GAAP measures cash costs per ounce, all-in sustaining costs per ounce and net free cash flow are reconciled to the Company’s financial statements beginning on page 20 of the Company’s Management’s Discussion and Analysis for the three and nine months ended September 30, 2013.

Adjusted net earnings is comprised of net earnings from both continuing and discontinued operations, adjusted for specific items. While the adjustments to net earnings in this measure include items that are recurring, adjusted net earnings is a useful measure as the unrealized gains / losses on foreign exchange, fair value adjustments on contingent consideration and derivatives, impairment charges, net realizable value adjustments, and other non-recurring items do not reflect the underlying operating performance of the Company’s core mining business in the periods presented and are not necessarily indicative of future operating results.

Adjusted operating cash flow excludes the change in non-cash operating working capital, which includes changes in receivables, inventories, prepaid assets, and payables.

Financial Statements and Management’s Discussion and Analysis

The financial statements and related Management’s Discussion and Analysis can be found on the Company’s website at www.auricogold.com or under the Company’s profile on www.sedar.com and with the Securities and Exchange Commission at www.sec.gov/edgar.shtml (“Edgar”).

Third Quarter Conference Call and Webcast

A webcast and conference call will be held on Friday, November 8, 2013 starting at 8:30 a.m. Eastern Time. Senior management will be on the call to discuss the results.

Conference Call Access

• International & Toronto:  1-647-427-7450
  
• Canada & U.S. Toll Free:  1-888-231-8191

When the operator answers, please ask to be placed into the AuRico Gold Third Quarter Results Conference Call.

Conference Call Live Webcast

The conference call will be broadcast live on the internet via webcast. To access the webcast, please follow this link: http://www.newswire.ca/en/webcast/detail/1236207/1361801

Archive Call Access

If you are unable to attend the conference call, a replay will be available until midnight, November 15, 2013 by dialing the appropriate number below:

• International & Toronto: 1-416-849-0833  Passcode:  #76263849
  
• Canada & U.S. Toll Free: 1-855-859-2056  Passcode: #76263849

Archive Webcast

The webcast will be archived for 90 days. To access the archived webcast, visit the Company’s website at www.auricogold.com or follow this link: http://www.newswire.ca/en/webcast/detail/1236207/1361801

About AuRico Gold

AuRico Gold is a leading Canadian gold producer with mines and projects in North America that have solid production growth and exploration potential. The Company is focused on its core operations including the Young–Davidson gold mine in northern Ontario and the El Chanate mine in Sonora State, Mexico. AuRico’s project pipeline also includes development opportunities in Canada and Mexico. AuRico’s head office is located in Toronto, Ontario, Canada.

Cautionary Statement

Certain information included in this presentation constitutes forward-looking statements, including any information as to our projects, plans and future financial and operating performance. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “believe”, “anticipate”, “will”, “intend”, “estimate”, “forecast”, “budget”, “schedule” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements.

Such factors include, but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold; changes in foreign exchange rates (particularly the Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; any decision to declare a quarterly dividend; employee relations; litigation; disruptions affecting operations; availability of and increased costs associated with mining inputs and labor; development delays at the Young–Davidson mine; operating or technical difficulties in connection with mining or development activities; inherent risks associated with mining and mineral processing; the risk that the Young–Davidson and El Chanate mines may not perform as planned; uncertainty with the Company’s ability to secure capital to execute its business plans; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; contests over title to properties; changes in national and local government legislation in Canada, Mexico and other jurisdictions in which the Company does or may carry on business in the future; risk of loss due to sabotage and civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; business opportunities that may be pursued by the Company. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Cautionary Note to U.S. Investors Concerning Measured, Indicated and Inferred Resources

This presentation uses the terms “measured,” “indicated” and “inferred” resources.  We advise investors that while those terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them.  Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.   

SOURCE AuRico Gold Inc.