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%.




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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 »