UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-
16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2014
Commission File Number 001-31739
AuRico Gold Inc.
(Translation
of registrant's name into English)
110 Yonge Street, Suite 1601, Toronto, Ontario,
M5C 1T4
(Address of principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) o
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) o
DOCUMENTS FILED AS PART OF THIS FORM 6-K
See the Exhibit Index hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
AuRico Gold Inc. |
| |
|
| Date: November 6, 2014 |
By: /s/ Robert
Chausse
Robert Chausse
Executive Vice President & CFO |
| |
|
EXHIBIT INDEX
| Exhibit
|
|
Description |
| |
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|
| 99.1 |
|
News Release dated November 6, 2014 - AuRico Gold Reports Third Quarter Financial Results and Ninth Consecutive Quarter of Record Gold Production
as Young-Davidson Reports a 17% Decrease in Cash Costs |
Exhibit 99.1
AuRico Gold Reports Third Quarter Financial Results and Ninth
Consecutive Quarter of Record Gold Production as Young-Davidson Reports a 17% Decrease in Cash Costs
TORONTO, Nov. 6, 2014 /CNW/ - AuRico Gold Inc. (TSX: AUQ)
(NYSE: AUQ), ("AuRico" or the "Company") reports financial results for the three and nine months ended
September 30, 2014. The Company will host a conference call on Friday, November 7, 2014 beginning at 8:30 a.m. Eastern Time (details
below). (All amounts are in U.S. dollars, unless otherwise indicated.)
To view "Company Wide Quarterly Production Growth",
please click:
http://files.newswire.ca/975/Q3FinancialResultsGraph.pdf
Financial Highlights
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except per share amounts) |
|
|
|
Quarter Ended
Sept. 30, 2014 |
|
|
|
Quarter Ended
Sept. 30, 2013 |
|
|
Nine Months Ended
Sept. 30, 2014 |
|
|
Nine Months Ended
Sept. 30, 2013 |
| Revenue from mining operations |
|
|
|
$73,505 |
|
|
|
$54,304 |
|
|
$219,988 |
|
|
$176,849 |
| Adjusted net (loss) / earnings(1) |
|
|
|
($5,585) |
|
|
|
$816 |
|
|
($28,476) |
|
|
$18,536 |
| Adjusted net (loss) / earnings per share, basic(1) |
|
|
|
($0.02) |
|
|
|
$0.00 |
|
|
($0.11) |
|
|
$0.07 |
| Net (loss) / earnings |
|
|
|
($15,722) |
|
|
|
$14,859 |
|
|
($61,389) |
|
|
($70,358) |
| Net (loss) / earnings per share, basic |
|
|
|
($0.06) |
|
|
|
$0.06 |
|
|
($0.25) |
|
|
($0.28) |
| Adjusted operating cash flow(1) |
|
|
|
$20,615 |
|
|
|
$21,758 |
|
|
$46,342 |
|
|
$60,571 |
| Adjusted operating cash flow, per share(1) |
|
|
|
$0.08 |
|
|
|
$0.09 |
|
|
$0.19 |
|
|
$0.24 |
| (1) |
See the tables at the end of this press release for a reconciliation of adjusted net earnings and adjusted operating cash flow and refer
to the discussion of Non-GAAP measures below. |
Operational Highlights
| |
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|
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| |
|
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|
Quarter Ended Sept. 30, 2014 |
|
|
|
Quarter Ended Sept. 30, 2013 |
| |
|
|
|
Young-
Davidson |
|
|
El Chanate |
|
|
|
Total |
|
|
|
Young-
Davidson |
|
|
El Chanate |
|
|
|
Total |
| Gold ounces produced |
|
|
|
40,538 |
|
|
16,499 |
|
|
|
57,037 |
|
|
|
19,652 |
|
|
18,804 |
|
|
|
38,456 |
| Gold ounces produced, pre-commercial production(3) |
|
|
|
- |
|
|
- |
|
|
|
- |
|
|
|
10,447 |
|
|
- |
|
|
|
10,447 |
| Total gold ounces produced |
|
|
|
40,538 |
|
|
16,499 |
|
|
|
57,037 |
|
|
|
30,099 |
|
|
18,804 |
|
|
|
48,903 |
| |
Underground cash costs per ounce(1)(2)(4) |
|
|
|
$656 |
|
|
- |
|
|
|
$656 |
|
|
|
- |
|
|
- |
|
|
|
- |
| |
Open pit cash costs per ounce(1)(2)(4) |
|
|
|
$923 |
|
|
$663 |
|
|
|
$765 |
|
|
|
$666 |
|
|
$588 |
|
|
|
$628 |
| Total cash costs per ounce(2)(4) |
|
|
|
$723 |
|
|
$663 |
|
|
|
$706 |
|
|
|
$666 |
|
|
$588 |
|
|
|
$628 |
| |
|
|
|
|
|
|
|
|
|
|
|
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|
|
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Nine Months ended Sept. 30, 2014 |
|
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|
Nine Months ended Sept. 30, 2013 |
| |
|
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|
Young-
Davidson |
|
|
El Chanate |
|
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|
Total |
|
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|
Young-
Davidson |
|
|
El Chanate |
|
|
|
Total |
| Gold ounces produced |
|
|
|
115,808 |
|
|
51,641 |
|
|
|
167,449 |
|
|
|
59,639 |
|
|
55,444 |
|
|
|
115,083 |
| Gold ounces produced, pre-commercial production(3) |
|
|
|
- |
|
|
- |
|
|
|
- |
|
|
|
27,993 |
|
|
- |
|
|
|
27,993 |
| Total gold ounces produced |
|
|
|
115,808 |
|
|
51,641 |
|
|
|
167,449 |
|
|
|
87,632 |
|
|
55,444 |
|
|
|
143,076 |
| |
Underground cash costs per ounce(1)(2)(4) |
|
|
|
$747 |
|
|
- |
|
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$747 |
|
|
|
- |
|
|
- |
|
|
|
- |
| |
Open pit cash costs per ounce(1)(2)(4) |
|
|
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$1,086 |
|
|
$621 |
|
|
|
$830 |
|
|
|
$692 |
|
|
$586 |
|
|
|
$640 |
| Cash costs per ounce(2)(4) |
|
|
|
$862 |
|
|
$621 |
|
|
|
$791 |
|
|
|
$692 |
|
|
$586 |
|
|
|
$640 |
| (1) |
Prior to commissioning the underground mine at Young-Davidson, cash costs were calculated on ounces produced from the open pit only.
All underground costs were capitalized, and any revenue related to underground ounces sold was credited against capital. Subsequent
to the declaration of commercial production in the underground mine on October 31, 2013, cash costs are calculated on ounces from
both the open pit and underground mines, and revenue related to the sale of underground ounces is recognized in the Company's
Statement of Operations as revenue. |
| (2) |
Cash costs are prior to inventory net realizable value adjustments, where applicable. See the Non-GAAP Measures section on
page 18 of the Management's Discussion and Analysis for the three and nine months ended September 30, 2014. |
| (3) |
Includes pre-production gold ounces from the Young-Davidson underground mine prior to the declaration of commercial production
on October 31, 2013. |
| (4) |
For the three and nine months ended September 30, 2014, cash costs per gold ounce are calculated using gold ounces sold at the
El Chanate and Young-Davidson mines. For 2013, cash costs per gold ounce were calculated using gold ounces sold at the El Chanate
mine and gold ounces produced at the Young-Davidson mine. |
Recent Highlights
| · | On September 18, 2014, the Company announced the appointment of Janice
Stairs, LLB, MBA, to the Board of Directors of the Company. The Company also announced that Dr. Luis Chavez resigned his
position as director of the Company, but remained the Company's Senior Vice President, Mexico. |
Young-Davidson Highlights
| · | At the end of the quarter, the Young-Davidson mine achieved 557 days
of lost time incident free operations. |
| · | Production of 40,538 gold ounces for the quarter represented the ninth
consecutive quarter of record gold production with the operation expected to deliver additional period-over-period production increases
going forward as the underground mine ramps-up to targeted levels. |
| · | Underground cash costs for the quarter decreased to $656 per gold ounce,
an 18% decline over the prior quarter, primarily driven by increased production, lower unit processing costs and lower underground
unit mining costs. Total cash costs for the quarter, which includes the low-grade open pit stockpile, decreased by 17% to $723
per gold ounce. |
| · | During the quarter, underground mine productivity exceeded planned levels
and averaged approximately 3,752 tonnes per day at grades in-line with reserve grade estimates. With underground productivity at
approximately 94% of the year-end target, the operation is well positioned to achieve the year-end target of 4,000 tonnes per day
and an ultimate productivity level of 8,000 tonnes per day at the end of 2016. |
| · | For the third full quarter of underground commercial production, unit
mining costs declined to approximately $41 per tonne, in-line with the year-end target of $40 per tonne. |
| · | During the quarter, underground development advance continued at planned
levels with approximately 3,269 metres completed, an average of 36 metres per day. The Company will continue to focus on
advancing underground development to best position the mine for sustainable, period-over-period, productivity increases in the
fourth quarter and beyond. |
| · | During the quarter, the mill facility averaged 7,670 tonnes per day,
including 4-days of downtime for scheduled mill reline activities. Recoveries increased over prior periods to a record 90%, which
is expected to be sustained going forward. |
| · | As planned, the short life open pit mine was fully depleted in early
June and as a result, during the quarter higher grade underground mill feed was supplemented with low grade open pit stockpiled
ore to ensure the mill processing facility was operating at peak capacity. The open pit stockpile will continue to supplement
underground ore feed to the mill processing facility as the underground mine ramps up to targeted levels and the remaining stockpile
will be processed at the end of the mine life. |
| · | Currently, approximately 2.8 million tonnes of open pit ore, at an average
grade of approximately 0.75 grams per tonne, is stockpiled ahead of the mill facility for future processing. As the related mining
costs associated with the stockpile were expended in prior periods, the processing of this ore will favourably augment the mine's
free cash flow profile going forward. |
| · | Capital investment for the quarter included a $6.9 million pay down of
prior period, construction related accounts payable balances. During the second half of the year, the Company continues to expect
significant decreases in capital expenditures, which will result in full year capital investments of up to $135 million. |
El Chanate Update
| · | During the quarter, the open pit mining rate averaged 94,643 tonnes per
day with mined grades being in-line with plan. |
| · | Mining operations in the third quarter reflected a transition from the
sequencing of lower grade mining areas to higher grade mining areas during the latter part of the quarter. |
| · | Production increased over the prior quarter while cash costs for the
quarter were $663 per ounce, which is in-line with guidance levels. |
"Our operation teams continue to build on the successes
achieved in prior quarters and they have delivered the ninth consecutive quarter of production growth as well as a significant
17% decrease in cash costs at our cornerstone Young-Davidson mine," stated Scott Perry, President and Chief Executive Officer.
He continued, "The Company continues to take a longer term view to position our operations for sustainable growth and shareholder
value creation that will drive long term success. As we begin the fourth quarter the Company is very well positioned to deliver
another consecutive quarter of production growth and we remain confident that in the current gold price environment the Young-Davidson
mine will be generating positive free cash flow by the end of the year."
Adjusted Net Earnings Reconciliation
| |
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|
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|
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|
Quarter Ended |
|
|
Quarter Ended |
| (in thousands, except per share metrics) |
|
|
|
|
|
Sept. 30, 2014 |
|
|
Sept. 30, 2013 |
| Net (loss) / earnings |
|
|
|
|
|
($15,722) |
|
|
$14,859 |
| Adjustments: |
|
|
|
|
|
|
|
|
|
| |
Deferred income tax expense / (recovery) related to foreign exchange |
|
|
|
|
|
14,253 |
|
|
(7,335) |
| |
Foreign exchange (gain) / losses |
|
|
|
|
|
(11,230) |
|
|
2,482 |
| |
Loss on retained interest royalty |
|
|
|
|
|
2,977 |
|
|
- |
| |
Net realizable value adjustments on inventory |
|
|
|
|
|
7,097 |
|
|
(7,372) |
| |
Impairment charges |
|
|
|
|
|
616 |
|
|
- |
| |
Gain on transfer of litigation claim |
|
|
|
|
|
(3,177) |
|
|
- |
| |
Unrealized and realized loss on investments |
|
|
|
|
|
- |
|
|
121 |
| |
Gain on option component of convertible notes |
|
|
|
|
|
- |
|
|
(3,875) |
| |
Unrealized gain on derivatives |
|
|
|
|
|
- |
|
|
(301) |
| |
Unrealized loss on contingent consideration |
|
|
|
|
|
- |
|
|
63 |
| |
Other (including tax effect of adjustments) |
|
|
|
|
|
(399) |
|
|
2,174 |
| Adjusted net (loss) / earnings |
|
|
|
|
|
($5,585) |
|
|
$816 |
| Adjusted net (loss) / earnings, per share |
|
|
|
|
|
($0.02) |
|
|
$0.00 |
| |
|
|
|
|
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|
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|
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|
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|
Nine Months Ended |
|
|
Nine Months Ended |
| (in thousands, except per share metrics) |
|
|
|
|
|
Sept. 30, 2014 |
|
|
Sept. 30, 2013 |
| Net loss |
|
|
|
|
|
($61,389) |
|
|
($70,358) |
| Adjustments: |
|
|
|
|
|
|
|
|
|
| |
Deferred income tax expense related to foreign exchange |
|
|
|
|
|
15,601 |
|
|
5,218 |
| |
Foreign exchange gain |
|
|
|
|
|
(9,595) |
|
|
(7,195) |
| |
Loss on retained interest royalty |
|
|
|
|
|
7,792 |
|
|
- |
| |
Net realizable value adjustments on inventory |
|
|
|
|
|
7,097 |
|
|
4,873 |
| |
Impairment charges |
|
|
|
|
|
616 |
|
|
98,688 |
| |
Gain on transfer of litigation claim |
|
|
|
|
|
(3,177) |
|
|
- |
| |
Loss on convertible notes tender offer |
|
|
|
|
|
15,645 |
|
|
- |
| |
Corporate restructuring costs |
|
|
|
|
|
2,716 |
|
|
- |
| |
Unrealized and realized (gain) / loss on investments |
|
|
|
|
|
(6,589) |
|
|
437 |
| |
Gain on option component of convertible notes |
|
|
|
|
|
(413) |
|
|
(14,850) |
| |
Unrealized gain on derivatives |
|
|
|
|
|
- |
|
|
(2,183) |
| |
Unrealized loss on contingent consideration |
|
|
|
|
|
- |
|
|
6,912 |
| |
Other (including tax effect of adjustments) |
|
|
|
|
|
3,220 |
|
|
(3,006) |
| Adjusted net (loss) / earnings |
|
|
|
|
|
($28,476) |
|
|
$18,536 |
| Adjusted net (loss) / earnings, per share |
|
|
|
|
|
($0.11) |
|
|
$0.07 |
Adjusted Operating Cash Flow Reconciliation
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Quarter Ended |
|
|
Quarter Ended |
| (in thousands, except per share metrics) |
|
|
|
|
|
Sept. 30, 2014 |
|
|
Sept. 30, 2013 |
| Operating cash flow |
|
|
|
|
|
$2,788 |
|
|
$24,338 |
| Add back: Non-cash change in operating working capital |
|
|
|
|
|
17,827 |
|
|
(2,580) |
| Adjusted operating cash flow |
|
|
|
|
|
$20,615 |
|
|
$21,758 |
| Adjusted operating cash flow, per share |
|
|
|
|
|
$0.08 |
|
|
$0.09 |
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Nine Months Ended |
|
|
Nine Months Ended |
| (in thousands, except per share metrics) |
|
|
|
|
|
Sept. 30, 2014 |
|
|
Sept. 30, 2013 |
| Operating cash flow |
|
|
|
|
|
$31,928 |
|
|
$51,312 |
| Add back: Non-cash change in operating working capital |
|
|
|
|
|
14,414 |
|
|
9,259 |
| Adjusted operating cash flow |
|
|
|
|
|
$46,342 |
|
|
$60,571 |
| Adjusted operating cash flow, per share |
|
|
|
|
|
$0.19 |
|
|
$0.24 |
Adjusted Earnings before Interest, Taxes, Depreciation
and Amortization ("Adjusted EBITDA")
| |
|
|
|
|
|
|
|
| |
|
|
|
Quarter Ended |
|
|
Quarter Ended |
| (in thousands) |
|
|
|
Sept. 30, 2014 |
|
|
Sept. 30, 2013 |
| EBITDA |
|
|
|
$34,778 |
|
|
$24,719 |
| Add back: |
|
|
|
|
|
|
|
| |
Exploration |
|
|
|
33 |
|
|
3 |
| |
Non-cash items identified in supplemental cash flow note, excluding amortization
and depletion, and deferred income tax expense / recovery |
|
|
|
(6,193) |
|
|
(3,885) |
| Adjusted EBITDA |
|
|
|
$28,618 |
|
|
$20,837 |
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
Nine Months Ended |
|
|
Nine Months Ended |
| (in thousands) |
|
|
|
Sept. 30, 2014 |
|
|
Sept. 30, 2013 |
| EBITDA |
|
|
|
$56,165 |
|
|
($20,883) |
| Add back: |
|
|
|
|
|
|
|
| |
Exploration |
|
|
|
60 |
|
|
22 |
| |
Non-cash items identified in supplemental cash flow note, excluding amortization
and depletion, and deferred income tax expense / recovery |
|
|
|
8,553 |
|
|
93,497 |
| Adjusted EBITDA |
|
|
|
$64,778 |
|
|
$72,636 |
Non-GAAP Measures
The Company uses the measures adjusted net earnings, cash
costs per ounce, adjusted operating cash flow, EBITDA and Adjusted EBITDA in this press release, which do not have a standardized
meaning prescribed by International Financial Reporting Standards ("IFRS" or "GAAP"). They are, therefore,
considered to be non-GAAP measures and may not be comparable to similar measures presented by other companies. The non-GAAP measures
cash costs per ounce and EBITDA are reconciled to the Company's financial statements beginning on page 18 of the Company's Management's
Discussion and Analysis for the three and nine months ended September 30, 2014.
Adjusted net earnings is comprised of net earnings, adjusted
for specific items. While the adjustments to net earnings in this measure include items that are recurring, adjusted net earnings
is a useful measure as the unrealized gains / losses on foreign exchange, fair value adjustments on contingent consideration and
derivatives, unrealized and realized gains and loss on investments, corporate restructuring costs, losses on the retained interest
royalty, impairment charges, net realizable value adjustments on inventory, and other non-recurring items do not reflect the underlying
operating performance of the Company's core mining business in the periods presented and are not necessarily indicative of future
operating results.
Adjusted operating cash flow excludes the change in non-cash
operating working capital, which includes changes in receivables, inventories, prepaid assets, and payables. Management uses adjusted
operating cash flow as a measure internally to evaluate the underlying operating cash flow performance of the Company as a whole
for the reporting periods presented, and to assist with the planning and forecasting of future operating cash flow.
Adjusted EBITDA represents EBITDA, adjusted for exploration
expense and other non-cash items included in earnings. While the adjustments to net earnings in this measure includes items that
are recurring, adjusted EBITDA is a valuable indicator of the Company's ability to generate liquidity by producing operating cash
flow to fund working capital needs, service debt obligations, and fund capital expenditures.
Financial Statements and Management's Discussion and Analysis
The financial statements and related Management's Discussion
and Analysis can be found on the Company's website at www.auricogold.com or under the Company's profile on www.sedar.com and with
the Securities and Exchange Commission at www.sec.gov/edgar.shtml ("Edgar").
Q3 2014 Dividend Declared
Commencing in 2014, the quarterly dividend is linked to operating
cash flow ("OCF"), whereby the Company pays out 20% of the OCF generated in the preceding quarter, divided by the Company's
outstanding common shares at the time the dividend is approved. On November 6, 2014, the Board of Directors declared the Company's
quarterly dividend payment of $0.00225 per share for the third quarter ended September 30, 2014, payable on December 1, 2014 to
shareholders of record at the close of business on November 17, 2014. Further information on the Company's dividend reinvestment
plan (DRIP) is available through the following link: www.auricogold.com/DRIP.
Third Quarter Webcast and Conference Call
A webcast and conference call will be held on Friday, November
7, 2014 starting at 8:30 a.m. Eastern Time. Senior Management will be on the call to discuss the results.
Conference Call Access:
| · | International & Toronto: 1-647-427-7450 |
| · | Canada & U.S. Toll Free: 1-888-231-8191 |
Please ask to be placed into the AuRico Gold 2014 Third Quarter
Results Conference Call.
Conference Call Live Webcast
The conference call will be broadcast live on the internet via webcast. To access the webcast, please follow this link: http://www.newswire.ca/en/webcast/detail/1421804/1579264.
Archive Call Access
If you are unable to attend the conference call, a replay will be available until midnight, November 14, 2014 by dialing
the appropriate number below:
| · | International & Toronto: 1-416-849-0833 Passcode:
#15205991 |
| · | Canada & U.S. Toll Free: 1-855-859-2056 Passcode:
#15205991 |
Archive Webcast
The webcast will be archived for 90 days. To access the archived
webcast, visit the Company's website at
www.auricogold.com or follow this link: http://www.newswire.ca/en/webcast/detail/1421804/1579264.
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with mines and projects in North America that have solid production growth and
exploration potential. The Company is focused on its core operations including the Young-Davidson gold mine in northern Ontario
and the El Chanate mine in Sonora State, Mexico. AuRico's project pipeline also includes development opportunities in Canada and
Mexico. AuRico's head office is located in Toronto, Ontario, Canada.
Cautionary Statement
This press release contains certain information that constitutes
"forward-looking information" and "forward-looking statements" as defined under Canadian and U.S. securities
laws. All statements in this press release, other than statements of historical fact, are forward-looking statements. The words
"expect", "believe", "anticipate", "contemplate", "may", "could", "will",
"intend", "estimate", "forecast", "target", "budget", "schedule" and
similar expressions identify forward-looking statements. Forward-looking statements in this press release include, without limitation,
those under the headings , "Young-Davidson Highlights" and "El Chanate Highlights" which include,
without limitation, statements with respect to our expectations on underground productivity levels, underground unit mining cost,
underground development, mill facility processing rate, cash flow, free cash flow, cash costs, capital investment and timing to
completion on the final leg of the Northgate production shaft, information as to our strategy, plans and future financial
and operating performance, such as our expansion plans, project timelines, production plans, projected cash flows or capital expenditure
levels, cost estimates, mining or milling methods, projected exploration results, resource and reserve estimates and other statements
that express our expectations or estimates of future performance.
Forward-looking statements are necessarily based upon a number
of factors and assumptions that, while considered reasonable by management at the time of making such statements, are inherently
subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause
actual results to differ materially from those projected in the forward-looking statements. Such factors and assumptions underlying
the forward-looking statements in this press release include, but are not limited to: changes to current estimates of mineral reserves
and resources; fluctuations in the price of gold; changes in foreign exchange rates (particularly the Canadian dollar, Mexican
peso and U.S. dollar); the impact of inflation; changes in our credit rating; any decision to declare a quarterly dividend; employee
relations; litigation; disruptions affecting operations; availability of and increased costs associated with mining inputs and
labor; development delays at the Young-Davidson mine; operating or technical difficulties in connection with mining or development
activities; inherent risks associated with mining and mineral processing; the risk that the Young-Davidson and El Chanate mines
may not perform as planned; uncertainty with the Company's ability to secure capital to execute its business plans; the speculative
nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, including the necessary
licenses, permits, authorizations and/or approvals from the appropriate regulatory authorities for the Kemess Underground project;
contests over title to properties; changes in national and local government legislation in Canada, Mexico and other jurisdictions
in which the Company does or may carry on business in the future; risk of loss due to sabotage and civil disturbances; the impact
of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks
arising from holding derivative instruments; business opportunities that may be pursued by the Company, as well as those factors
discussed under "Risk Factors" in the Company's most recent Annual Information Form.
Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such
statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the assumptions
set forth in our most recent Form 40-F/Annual Information Form. Readers are cautioned that forward-looking statements are not guarantees
of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities
regulatory authorities for a discussion of some of the factors underlying forward-looking statements.
There can be no assurance that forward-looking statements
or information will prove to be accurate, accordingly, investors should not place undue reliance on the forward-looking statements
or information contained herein. The Company disclaims any intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise, except as required by applicable law.
Cautionary Note to U.S. Investors Concerning
Measured, Indicated and Inferred Resources
This press release uses the terms "measured", "indicated"
and "inferred" resources. We advise investors that while those terms are recognized and required by Canadian regulations,
the United States Securities and Exchange Commission does not recognize them. "Inferred resources" have a great amount
of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part
of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources
may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or
any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also
cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
SOURCE AuRico Gold Inc.
PDF available at: http://stream1.newswire.ca/media/2014/11/06/20141106_C9475_DOC_EN_43191.pdf
%CIK: 0001078217
For further information:
For further information please visit the AuRico Gold website
at www.auricogold.com or contact:
Rob Chausse
Executive Vice President & Chief Financial Officer
AuRico Gold Inc.
1-647-260-8880
Anne Day
Vice President, Investor Relations and Communications
AuRico Gold Inc.
1-647-260-8880
CO: AuRico Gold Inc.
CNW 16:20e 06-NOV-14