AURIZON MINES HIGHLIGHTS
Flagship 155,000 oz./yr Casa Berardi – Long Mine Life, Low Costs, Exploration Upside – Aurizon re-started operations in November 2006 at Casa Berardi, located in the Abitibi region of north-western Quebec, Canada. On October 27, 2010 the company reported an updated mineral resource estimate for the Principal Area of the project, which showed a 94% increase to 690,000 ounces of gold in Measured and Indicated In-Pit Mineral Resources.
Next Mine, Joanna, to Boost Gold Production to est. 260,000 ounces per annum – The company owns a 100% interest, subject to certain underlying royalties, in five of the six sectors comprising the Joanna Project, also located in the Abitibi region of north-western Quebec, Canada. Aurizon is conducting a $3.4 million surface exploration program, while two drill rigs are currently active on the project.
Strong Balance Sheet – over $200m in Cash and No Debt – Aurizon Mines has maintained a flexible financial position, and with continued cash flow generation is funded for future growth.
Politically-Secure, Mining-Friendly Jurisdiction in Quebec, Canada – All nine of Aurizon’s properties are located in the Abitibi region of north-western Quebec, Canada, one of the world’s premier mining jurisdictions.AZK: Diversified Resource BaseYou need to upgrade your Flash Player
AURIZON MINES RECENT DEVELOPMENTS
Board Recommends Rejecting Offer January 23, 2013 Aurizon Mines reported that its Board of Directors has unanimously recommended that shareholders reject the hostile take-over bid received from Alamos Gold. The Board’s recommendation is based in part on the recommendation of the Special Committee and the advice from financial advisors to Aurizon and the Special Committee and follows a thorough review process, undertaken in consultation with its financial and legal advisors.
Appoints Special Committee January 18, 2013 Aurizon Mines announced that it has appointed Scotia Capital Inc. as financial advisor and DuMoulin Black LLP and Blake, Cassels & Graydon LLP as legal counsel to assist in responding to the unsolicited bid from Alamos Gold that was made on January 14, 2013. The Board of Directors of Aurizon has also appointed a special committee of independent Directors to review and evaluate the Alamos Offer.
Responds to Alamos Offer January 15, 2013 Aurizon Mines responded to Alamos Gold’s unsolicited bid, announced yesterday, to acquire the Canadian-based gold producer for C$780 million in cash and stock. Aurizon noted that it is in the process of reviewing and evaluating Alamos’ offer with its financial and legal advisors, and that it expects that a special committee of the Board of Directors of the Company will be appointed to assist the Board in fulfilling its legal and fiduciary duties in respect of the offer and making every effort to maximize value for the benefit of Aurizon’s shareholders and other stakeholders.
AURIZON MINES SHARE PERFORMANCE
AZK HAS OUTPERFORMED
S&P 500Aurizon Mines has posted a return of more than seven times that of the broader stock market in 2010.
GoldAurizon’s year-to-date return is more than double that of the price of gold.
GDXThe Canadian-based gold producer has vastly outperformed the large-cap gold stocks this year.
GDXJAurizon has outpaced the majority of small- and mid-cap gold stocks in 2010.
AZK VS BENCHMARKS IN 2010You need to upgrade your Flash Player
Premier continues to outperform benchmarks
AURIZON MINES IN THE NEWS
LOCATED IN TOP MINING JURISDICTION QUEBEC, CANADA
KEY UPCOMING CATALYSTS
Ongoing Exploration at Casa Berardi
$9.4 million will be invested in 2012 on exploration at Casa Berardi which will include approximately 88,000 meters of surface and underground diamond drilling. The primary objective of the drilling will be to improve the quality of the known reserves and resources as well as exploring for extensions of these structures.
Growing Resources & Reserves
- Aurizon provided detailed plans to continue growing its resources and reserves in 2012 through aggressive exploration. Beginning in 2011 through 2013, annual gold production of 155,000-160,000 ounces is expected at total cash costs of $600 per ounce, as the mine plan includes more areas containing material with the average underground reserve grade of approximately 8 grams per tonne of gold.
Marban Updated Resource
The results of 90 holes and 9 extensions of previous holes of the Phase Two drill program have successfully confirmed the extension of the different zones of Marban mineralize system, and will be incorporated into an updated mineral resource estimate.