AuRico Gold is reporting its seventh consecutive quarter of record production, representing a 10 per cent increase over the prior quarter and a 17 per cent over the first quarter of 2013.
The Toronto miner said production growth has been driven by its cornerstone Young-Davidson Mine at Matachewan in northeastern Ontario and its El Chanate Mine in Mexico.
At Young-Davidson, production has increased from 28,281 gold ounces produced in the first quarter of 2013 to 35,095 in the first quarter of this year. That growth is expected to continue with the ongoing production ramp-up at Young-Davidson.
"We are pleased with the progression of the ramp-up at the Young-Davidson mine, which has underpinned a seventh consecutive quarter of record, company-wide production," said company president-CEO Scott Perry in an April 1 release. "The increase in underground mining rates to 4,000 tonnes per day by the end of 2014 and to an ultimate target of 8,000 tonnes per day in 2016 will continue to drive higher production at lower unit costs."
