http://www.marketwire.com/mw/release...
Q1 2008 Highlights:
- Working capital of $49.7 million (December 31, 2007: $57.0 million)
- $8.0 million (Q1 2007: $10.5 million) in mineral property and deferred exploration and development expenditures, included higher drilling costs with seven drills onsite in the quarter, accompanying camp support and development planning costs offset by lower stock based compensation expense
- Total metres drilled on all targets were 20,000 (Q1 2007: 14,500 metres). For the Fruta del Norte (FDN) deposit, total drill holes to date are 125 for a total of 83,000 metres drilled, with results received and released for 110 of these holes. FDN drilling during Q1 consisted primarily of in-fill holes, with the goal of moving the resource from inferred to indicated, and geotechnical holes in support of fast-track development.
- On February 14, 2008 announced commencement of 43-101 compliant scoping study for the FDN deposit
- Subsequent event: On April 18, 2008 Ecuador's Constituent Assembly adopted a Mining Mandate that invoked an immediate 180-day suspension of activities on virtually all mining concessions in Ecuador. As a result, Aurelian suspended all drilling activities and reduced its workforce by 80% (see press releases from April 21 and April 29)
