Aurizon Mines earns $5.04-million in Q1
2009-05-13 05:24 PT - News Release
Mr. David Hall reports
AURIZON REPORTS HIGHLIGHTS OF FIRST QUARTER 2009 RESULTS
Aurizon Mines Ltd. has provided highlights of its financial results for the first quarter of 2009, which have been prepared on the basis of available information up to May 11, 2009. (To review the complete interim unaudited financial statements or management's discussion and analysis, which should be read in conjunction with the most recent financial statements, please see the company's SEDAR filings or the company's website.)
The first quarter was highlighted by the following activities:
- Cash flow from operating activities increased 27 per cent to $19.7-million compared with same quarter of 2008;
- Earnings of $5.0-million, or three cents per share, and adjusted earnings of $7.1-million, or five cents per share;
- Gold production of 38,966 ounces, in line with plan;
- Total cash costs of $379 (U.S.) per ounce, 10 per cent lower than same quarter of 2008;
- Project debt reduced by $8.2-million;
- Subsequent to March 31, 2009, an equity financing realized net proceeds of $47.4-million.
"Aurizon posted another quarter of consistent operating performance and strong cash flow," said David Hall, president and chief executive officer. "With a strong financial position, several major studies under way, increased exploration budgets and escalating corporate development activity, we are well positioned to continue to add value for our shareholders."
