Mar 15th 2013 - Edison Investment Research today published a report on aurizon mines entitled "Two Takeover Offers". In summary, the report says:
Aurizon Mines (ARZ) reported FY12 results with few surprises, given financial results for three quarters and production for Q4 and FY12 were already known. Diluted reported EPS of 19.4cps compared to Edison’s expectation of 19.9cps (20.4cps vs 20.5cps on a normalised basis). Main variations were lower gold sold cf produced, costing an estimated C$4.1m in revenue, counteracted by lower unit costs of C$124/t in Q4 (vs C$133.6/t expected). Exploration and general & administrative costs were lower in FY12 cf FY11 and capex was also below our (admittedly conservative) estimate. ARZ is currently subject to two takeover offers.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »