Aurizon Mines - Confirming the trend

Friday, Nov 09 2012 by

Nov 09th 2012 - Edison Investment Research today published a report on aurizon mines entitled "Confirming The Trend". In summary, the report says:

In common with many of its peers, Q3 proved a challenging quarter for Aurizon Mines, with gold output affected by a combination of four days’ lost production on account of a kinked cable and the effect of the shaft sinking project, which limited underground flexibility and concentrated mining operations onto three ‘uncharacteristically’ low-grade stopes. As a result, gold production was 21% lower than the prior quarter. However, management was able to maintain good control of costs, which were 13% lower than both the prior quarter and Edison’s expectations, such that we have reduced our EPS forecasts for FY12 by only 3.5%.




About Edison Investment Research

Edison Investment Research

Follow

Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals work with leading companies, fund managers and investment banks worldwide to support their capital markets activity.  We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington.  Edison is authorised and regulated by the Financial Conduct Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »