Aurizon President George Paspalas on 4Q 2011, year-end financial results
Aurizon Mines Ltd TSX:ARZ announced financial results for the fourth quarter and year ending December 31, 2011. Year-end highlights include
Net profit of $43.9 million or $0.27 per share, up 155% from 2010
Revenue of $260 million, up 45% from 2010
Cash flow of $121.3 million, up 138% from 2010
Cash balance of $213 million
Gold production of 163,845 ounces
Cash cost of US$537 per ounce
Fourth quarter highlights include
Net profit of $21.8 million or $0.13 per share
Revenue of $85.7 million
Cash flow of $49 million
Gold production of 45,995 ounces
Cash cost of US$498 per ounce
Aurizon has 11 properties, all in Quebec. They include the Casa Berardi Gold Mine and the advanced-stage Joanna Gold Project.
Speaking to ResourceClips.com, President/CEO George Paspalas addressed a number of issues, starting with the company’s dip in share price. “If you look at some of the headlines, they’re saying things like ‘Record Year but 2012’s No Good.’ The year 2012 is slightly lower in terms of production because the grade’s a bit lower. But it’s only off a little from a record high. I’m surprised at the stock, where it is and the way it’s trending today. But it is what it is. All we can do is go out and keep hitting good results. I believe that at the end of the day that’s what counts. You just have to ride through these periods.
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