AuRico Gold Inc. (TSX:AUQ.TO) (NYSE: AUQ) says that first-quarter gold and silver production rose 35%. Gold production totaled 45,528 ounces while silver production rose to 1.112 million ounces, or 67,078 ounces of gold equivalent using a gold equivalency of 52:1, the company says. El Chanate reported record production for the quarter, which was achieved through the productivity enhancements of the company's expansion program that was completed at the end of the first quarter, the company says. "With four operating mines in North America, AuRico is now poised to grow production quarter over quarter in 2012 by up to 90% by year-end,” says René Marion, chief executive officer of AuRico. “The increase in quarterly production in 2012 will underpin a peer-leading 105-146% growth profile over the next three years and positions the company as a leading gold producer focused in North America." The company expects to produce between 370,000 and 420,000 of gold equivalent ounces. AuRico Gold is a Canadian gold producer with projects located in North America.
By Alex Létourneau of Kitco News; [email protected]