AuRico adjusted profit soars nearly threefold

TSX-listed AuRico Gold said on Wednesday its first-quarter adjusted profit rose by 186.7% to $57.8-million, or $0.21 a share, as the company sold more gold at a higher price. AuRico beat analyst expectations of adjusted earnings pinned at $0.12 a...

Crocodile Gold expects 200% production increase

Following the acquisition of two new Australian mines from AuRico Gold, TSX-listed Crocodile Gold Corp on Tuesday said it expected a threefold gold production increase this year to between 155 000 oz and 175 000 oz. The company, which mainly...

Profits surge for AuRico in Q4

AuRico Gold, which bought Northgate Minerals for C$1.46-billion in October, said on Wednesday it aims to grow production to between 500 000 oz and 600 000 oz in 2014, as much as 128% more than it mined in 2011. That does not include the...

AuRico eyes 1Moz by 2015, may IPO Aus mines

AuRico Gold, the Mexico-focused miner that offered to buy Canada’s Northgate Minerals for C$1.4-billion in August, said the combined company could produce up to one-million ounces yearly by 2015. CEO René Marion also told Mining Weekly Online...

Matrix to fast track Central Victoria gold project

Emerging Australian gold explorer Matrix Gold on Tuesday reported that it would use the A$5-million from its initial public offering (IPO) to fast-track a project in Central Victoria into production by mid-year. Matrix, which plans to list on the...

Investigations continue into gas build-up at Oz gold mine

Australian gold-miner Perseverance said on Monday that it was continuing investigations into an underground gas build up last week at its Fosterville gold mine, but that heavy rain had hampered efforts to restart production at the operation.

Australian gold output struggles in June quarter

Melbourne-based mining consultants Surbiton Associates this week released its latest Australian Gold Quarterly Review, showing that Australian gold production at 65,5 t in the June 2005 quarter.