Aurizon Mines - Au down, but EPSe up
May 16th 2012 - Edison Investment Research today published a report on aurizon mines entitled "Au Down, But EPSe Up". In summary, the report says:
A lack of available shotcrete equipment and difficult ground conditions in Q112 combined to force changes to the mining sequence, which adversely affected both ore throughput and grades. As a consequence, both operational and financial results were below Edison’s expectations. However, while the mining sequence has changed, the mine plan has not. As such, official production guidance for the year remains broadly unchanged; notwithstanding the recent decline in the gold price to US$1,535/oz, Edison’s estimates have actually increased (see Exhibit 2 on page 6), albeit fractionally.
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