Courtesy of Benzinga.
AuRico Gold (NYSE: AUQ) is pleased to provide an update to its operational guidance for the next three years. While guidance on production, cash costs, and capital expenditures at AuRico’s core operations has not changed, the Company wishes to highlight updated consolidated guidance that reflects the recently announced divestitures of its non-core mines. On March 27, AuRico announced the execution of a definitive agreement regarding the divestiture of its Australian mines, and on April 15, AuRico announced the execution of a definitive agreement regarding the sale of the El Cubo mine and the Guadalupe y Calvo project in Mexico.
The divestitures are consistent with AuRico Gold’s strategy of focusing on its large, low cost, core assets in North America. AuRico Gold is now directing all of its attention to delivering value for shareholders from its three core operating mines, including Young-Davidson where first production is imminent, and its development pipeline in Mexico and Canada.
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