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 February, 2015
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.
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AuRico Gold Inc. |
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Date: February 19, 2015 |
By: /s/ Robert
Chausse
Robert Chausse
Executive Vice President & CFO |
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EXHIBIT INDEX
Exhibit
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Description |
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99.1 |
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News Release dated February 19, 2015 - AuRico Gold Reports Fourth Quarter and Annual Financial Results; Declares Dividend |
Exhibit 99.1
AuRico Gold Reports Fourth Quarter and Annual Financial Results;
Declares Dividend
Young-Davidson Delivers Approximately $9 Million of Positive
Net Free Cash Flow
AuRico Delivers Another Year of Consolidated Annual
Production that Achieves Guidance Estimates
TORONTO, Feb. 19, 2015 /CNW/ - AuRico Gold Inc. (TSX: AUQ)
(NYSE: AUQ), ("AuRico" or the "Company") reports financial results for the three and twelve months ended
December 31, 2014. The Company will host a conference call on Friday, February 20, 2015 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/Quarterly.pdf
2014 Results versus Guidance
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|
|
|
Total Production |
2014 Results |
|
2014 Guidance1 |
Young-Davidson |
156,753 |
|
140,000-160,000 |
El Chanate |
67,279 |
|
70,000-80,000 |
|
224,032 |
|
210,000-240,000 |
Total Cash Costs per Ounce |
|
|
|
Young-Davidson Underground |
$719 |
|
$650-$750 |
Young-Davidson Historical Stockpile |
$1,071 |
|
$850-$950 |
El Chanate |
$669 |
|
$625-$725 |
|
$779 |
|
$675-$775 |
Total All-in Sustaining Costs per Ounce2,3 |
|
|
|
Young-Davidson |
$1,075 |
|
$1,100-$1,200 |
El Chanate |
$1,121 |
|
$1,000-$1,100 |
|
$1,200 |
|
$1,100-$1,200 |
Total Capital Investment ($000s)4 |
|
|
|
Young-Davidson ($000s) |
$135,100 |
|
$135,000 |
El Chanate ($000s) |
$26,100 |
|
$20,000-$25,000 |
|
$161,200 |
|
$155,000-$160,000 |
|
|
|
|
Company-Wide Exploration ($000's) |
$18,700 |
|
$15,000 |
Corporate G&A5 ($000's) |
$16,800 |
|
$20,000 |
1. The following currency assumptions were used to forecast 2014 estimates: 0.95:1 US dollar to the Canadian dollar
and 13.0:1 Mexican pesos to the US dollar. |
2. Company-wide all-in sustaining costs are defined as cash costs, sustaining capital, corporate general and administrative expense
and sustaining exploration. |
3. Sustaining capital is defined as capital expenditures required to maintain current levels of production. |
4. Capital investment for Young-Davidson and El Chanate operations only. Excludes exploration costs, capitalized
interest and other corporate capital investment. |
5. Does not include share-based compensation and corporate restructuring costs. |
Financial Highlights
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(in thousands, except per share amounts) |
Quarter Ended
Dec. 31, 2014 |
|
Quarter Ended
Dec. 31, 2013 |
Twelve Months Ended
Dec. 31, 2014 |
Twelve Months Ended
Dec. 31, 2013 |
Revenue from mining operations |
$71,194 |
|
$50,782 |
$291,182 |
$227,631 |
Adjusted net (loss) / earnings(1) |
($9,492) |
|
($5,484) |
($37,968) |
$13,052 |
Adjusted net (loss) / earnings per share, basic(1) |
($0.04) |
|
($0.02) |
($0.15) |
$0.05 |
Net loss |
($108,259) |
|
($106,412) |
($169,648) |
($176,770) |
Net loss, basic |
($0.43) |
|
($0.43) |
($0.68) |
($0.71) |
Adjusted operating cash flow(1) |
$18,367 |
|
$17,508 |
$64,709 |
$78,079 |
Adjusted operating cash flow, per share(1) |
$0.07 |
|
$0.07 |
$0.26 |
$0.31 |
(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
|
|
Quarter Ended Dec. 31, 2014 |
|
Quarter Ended Dec. 31, 2013 |
|
Young-
Davidson |
El Chanate |
Total |
|
Young-
Davidson |
El Chanate |
Total |
Gold ounces produced |
40,945 |
15,638 |
56,583 |
|
29,597 |
16,420 |
46,017 |
Gold ounces produced, pre-commercial production(3) |
- |
- |
- |
|
3,509 |
- |
3,509 |
Total gold ounces produced |
40,945 |
15,638 |
56,583 |
|
33,106 |
16,420 |
49,526 |
|
Underground cash costs per ounce(1)(2)(4) |
$656 |
- |
$656 |
|
$663 |
- |
$663 |
|
Open pit cash costs per ounce(1)(2)(4) |
$994 |
$816 |
$873 |
|
$983 |
$615 |
$812 |
Total cash costs per ounce(2)(4) |
$719 |
$816 |
$746 |
|
$850 |
$615 |
$771 |
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|
|
|
|
|
|
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|
Twelve Months Ended Dec. 31, 2014 |
|
Twelve Months Ended Dec. 31, 2013 |
|
Young-
Davidson |
El Chanate |
Total |
|
Young-
Davidson |
El Chanate |
Total |
Gold ounces produced |
156,753 |
67,279 |
224,032 |
|
89,236 |
71,864 |
161,100 |
Gold ounces produced, pre-commercial production(3) |
- |
- |
- |
|
31,502 |
- |
31,502 |
Total gold ounces produced |
156,753 |
67,279 |
224,032 |
|
120,738 |
71,864 |
192,602 |
|
Underground cash costs per ounce(1)(2)(4) |
$719 |
- |
$719 |
|
$663 |
- |
$663 |
|
Open pit cash costs per ounce(1)(2)(4) |
$1,071 |
$669 |
$839 |
|
$757 |
$592 |
$677 |
Cash costs per ounce(2)(4) |
$825 |
$669 |
$779 |
|
$744 |
$592 |
$676 |
(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 22 of the Management's Discussion and Analysis for the three and twelve months ended December 31, 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 twelve months ended December 31, 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 January 21, 2015 the Company released an initial resource Kemess East
of 5.5 million gold equivalent ounces that is comprised of indicated resource of 2.1 million gold equivalent ounces and an inferred
resource of 3.4 million gold equivalent ounces. The Kemess East discovery (refer to press release dated December 15, 2014) is located
one kilometre east of the previously delineated Kemess Underground deposit and 6.5 kilometres north of the existing Kemess mill
facility. Combined with the Kemess Underground reserves and resources, the entire Kemess Property resource has doubled to 10.6
million gold equivalent ounces. |
| · | On January 14, 2015, the Company completed a revised agreement with Crocodile
Gold ("Crocodile"), whereby AuRico received a C$20 million upfront payment and was granted a net smelter return royalty
of 2% from Crocodile's Fosterville Gold Mine beginning in 2015 and 1% from Crocodile's Stawell Gold Mine beginning in 2016. |
| · | On November 11, 2014, the Company announced a joint venture strategic
partnership with Carlisle Goldfields ("Carlisle") in the Lynn Lake Gold Camp ("Lynn Lake"). Under the joint
venture agreement the Company has acquired a 25% interest in Lynn Lake for an initial cash contribution of C$5 million and can
earn up to a 60% interest by funding C$20 million on the project over a three-year period and delivering a feasibility study within
that time period. The transaction represents a low risk opportunity to participate in the early stage advancement of a highly
prospective mining district in Canada. |
Young-Davidson Highlights
| · | At the end of the year, the Young-Davidson mine had achieved a record
21 months of lost time incident free operations. |
| · | Production of 40,945 gold ounces for the quarter represented the eleventh
consecutive quarter of record gold production. For 2014, the Young-Davidson mine produced 156,753 gold ounces, representing the
high-end of the Company's annual production guidance estimates. The operation expects to deliver period-over-period production
increases going forward as the underground mine ramps-up to year-end targeted levels at the end of 2016. |
| · | Underground cash costs for the quarter were $656 per gold ounce, consistent
with the prior quarter and primarily driven by increased production, lower unit processing costs and lower underground unit mining
costs. For 2014, underground cash costs were $719 per gold ounce, in-line with the Company's annual guidance levels. |
| · | During the quarter, underground mine productivity exceeded year-end target
levels and averaged approximately 4,140 tonnes per day (4,214 tonnes per day in December) at grades in-line with reserve grade
estimates. With underground productivity remaining ahead of target, the operation is well positioned to achieve the 2015 year-end
target of 6,000 tonnes per day and an ultimate productivity level of 8,000 tonnes per day at the end of 2016. |
| · | Underground unit mining costs declined to approximately $39 per tonne
in the fourth quarter, exceeding the year-end target of $40 per tonne. |
| · | Approximately 3,438 metres of underground development advance were completed
during the quarter and 14,024 metres for the year, which is at the high end of planned levels. The Company will continue
to focus on advancing underground development to best position the mine for sustainable, period-over-period, productivity increases
in 2015 and beyond. |
| · | During the quarter, the mill facility averaged 7,757 tonnes per day with
recoveries of 88%, in-line with targeted levels. |
| · | Approximately 2.5 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 open pit stockpile were expended in prior periods, the processing of this ore will favourably augment the mine's
free cash flow profile going forward. 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. |
El Chanate Highlights
| · | During the quarter, the open pit mining rate averaged 89,602 tonnes per
day. |
| · | During the quarter the operation produced 15,638 gold ounces. For 2014,
the mine produced 67,279 ounces of gold, slightly below 2014 operational guidance estimates. |
| · | During the quarter, cash costs were $816 per gold ounce. For 2014, cash
costs were $669 per gold ounce, in-line with 2014 operational guidance estimates. |
"In 2014, we continued to deliver on our commitment to
operational excellence and shareholder value creation. We delivered another year of production growth and declining costs at our
cornerstone Young-Davidson mine, which underpinned the asset's transition to net free cash flow status in the fourth quarter where
the operation reported an impressive $9 million in net free cash flow." stated Scott Perry, stated President and Chief Executive
Officer. He continued, "In 2015, we will continue to focus on positioning the Company as a low cost, high margin operation
with an organic growth profile and an expanded portfolio of quality properties located in the leading jurisdictions of Canada and
Mexico."
Adjusted Net Earnings Reconciliation
|
|
|
|
|
(in thousands, except per share metrics) |
Quarter Ended
Dec. 31, 2014 |
|
Quarter Ended
Dec. 31, 2013 |
Net loss |
($108,259) |
|
($106,412) |
Adjustments: |
|
|
|
|
Deferred income tax expense related to foreign exchange |
$14,128 |
|
$12,826 |
|
Foreign exchange losses |
2,017 |
|
3,223 |
|
Loss on retained interest royalty |
3,033 |
|
- |
|
Net realizable value adjustments on inventory |
16,437 |
|
37,196 |
|
Impairment charges |
91,006 |
|
59,886 |
|
Gain on option component of convertible notes |
- |
|
(772) |
|
Unrealized loss on contingent consideration |
- |
|
483 |
|
Impact of new Mexican mining tax |
- |
|
4,917 |
|
Other (including tax effect of adjustments) |
(27,854) |
|
(16,831) |
Adjusted net loss |
($9,492) |
|
($5,484) |
Adjusted net loss, per share |
($0.04) |
|
($0.02) |
|
|
|
|
|
|
|
|
(in thousands, except per share metrics) |
Twelve Months Ended
Dec. 31, 2014 |
|
Twelve Months Ended
Dec. 31, 2013 |
Net loss |
($169,648) |
|
($176,770) |
Adjustments: |
|
|
|
|
Deferred income tax expense related to foreign exchange |
$16,913 |
|
$9,783 |
|
Foreign exchange loss / (gain) |
5,238 |
|
4,289 |
|
Loss on retained interest royalty |
10,825 |
|
- |
|
Net realizable value adjustments on inventory |
23,534 |
|
42,069 |
|
Impairment charges |
91,622 |
|
158,574 |
|
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) |
|
- |
|
Gain on option component of convertible notes |
- |
|
(15,622) |
|
Unrealized gain on derivatives |
- |
|
(2,071) |
|
Unrealized loss on contingent consideration |
- |
|
7,395 |
|
Impact of new Mexican mining tax |
- |
|
4,917 |
|
Other (including tax effect of adjustments) |
(25,047) |
|
(19,512) |
Adjusted net (loss) / earnings |
($37,968) |
|
$13,052 |
Adjusted net (loss) / earnings, per share |
($0.15) |
|
$0.05 |
|
|
|
|
|
Adjusted Operating Cash Flow Reconciliation
|
|
|
(in thousands, except per share metrics) |
Quarter Ended |
Quarter Ended |
Dec. 31, 2014 |
Dec. 31, 2013 |
Operating cash flow |
$28,486 |
$11,954 |
Add back: Non-cash change in operating working capital |
(10,119) |
5,554 |
Adjusted operating cash flow |
$18,367 |
$17,508 |
Adjusted operating cash flow, per share |
$0.07 |
$0.07 |
|
|
|
|
|
|
(in thousands, except per share metrics) |
Twelve Months Ended |
Twelve Months Ended |
Dec. 31, 2014 |
Dec. 31, 2013 |
Operating cash flow |
$60,414 |
$63,266 |
Add back: Non-cash change in operating working capital |
4,295 |
14,813 |
Adjusted operating cash flow |
$64,709 |
$78,079 |
Adjusted operating cash flow, per share |
$0.26 |
$0.31 |
|
|
|
Adjusted Earnings before Interest, Taxes, Depreciation
and Amortization ("Adjusted EBITDA")
|
|
|
(in thousands) |
Quarter Ended |
Quarter Ended |
Dec. 31, 2014 |
Dec. 31, 2013 |
EBITDA |
($87,309) |
$80,069 |
Add back: |
|
|
|
Exploration |
17 |
20 |
|
Non-cash items identified in supplemental cash flow note, excluding
amortization and depletion, and deferred income tax expense / recovery |
108,434 |
95,228 |
Adjusted EBITDA |
$21,142 |
$15,179 |
|
|
|
|
|
|
|
(in thousands) |
Twelve Months Ended |
Twelve Months Ended |
Dec. 31, 2014 |
Dec. 31, 2013 |
EBITDA |
($43,960) |
($103,213) |
Add back: |
|
|
|
Exploration |
77 |
41 |
|
Non-cash items identified in supplemental cash flow note, excluding
amortization and depletion, and deferred income tax expense / recovery |
129,803 |
196,986 |
Adjusted EBITDA |
$85,920 |
$87,814 |
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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 22 of the Company's Management's
Discussion and Analysis for the three and twelve months ended December 31, 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 losses on investments, corporate restructuring costs, losses on the retained interest
royalty and convertible notes tender offer, impairment charges, gain on the transfer of a litigation claim, 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").
Q4 2014 Dividend Declared
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 February 19, 2015, the Board of Directors declared the Company's quarterly dividend payment
of $0.023 per share for the fourth quarter ended December 31, 2014, payable on March 16, 2015 to shareholders of record at the
close of business on March 2, 2015.
Dividend Reinvestment Plan Highlights
The Company implemented a Dividend Reinvestment Plan ("DRIP"
or "the Plan") on June 11, 2013 that provides a convenient and cost-effective way for eligible shareholders to acquire
additional common shares ("shares") of the Company by reinvesting cash dividends paid on their shareholdings. Highlights
of the Plan include:
| · | Shares issued under the Plan from the treasury of the Company may be
issued at a discount not to exceed 5% from the average market price of the shares over the five day period preceding the relevant
dividend payment date as further described in the Plan. The current discount has been set at 5% and shall apply until further notice
by press release. |
| · | Brokerage commissions and administrative costs for the shares issued
under the Plan will be borne by the Company and not the registered shareholder, however beneficial shareholders may incur fees
in respect of services provided by their nominee. |
| · | Shares distributed under the Plan will, at the option of the Company,
be purchased by the Plan agent from the treasury of the Company or in the open market on the New York Stock Exchange, or a combination
of both. |
A copy of the Plan is available on the Company's website at
www.auricogold.com/DRIP.
Webcast and Conference call
A webcast and conference call will be held on Friday, February
20, 2015 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 Fourth Quarter
and Year-End 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/1470369/1636711.
Archive Call Access
If you are unable to attend the conference call, a replay will be available until midnight, February 27, 2015 by dialing
the appropriate number below:
| · | International & Toronto: 1-416-849-0833 Passcode: #64802471
|
| · | Canada & U.S. Toll Free: 1-855-859-2056 Passcode: #64802471
|
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/1470369/1636711.
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with mines and projects in North America that have significant production growth
and exploration potential. The Company is focused on its core operations including the cornerstone Young-Davidson gold mine
in northern Ontario, and the El Chanate mine in Sonora State, Mexico. AuRico's project pipeline also includes the advanced development
Kemess Property in northern British Columbia and the Lynn Lake Gold Camp in northern Manitoba. The Company also has other exploration
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 estimates,
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 appropriate regulatory authorities; 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.
In particular, forward-looking information included in this
document includes, but is not limited to: (1) production estimates and production growth rates, which assume accuracy of projected
ore grade, mining rates, recovery timing and recovery rate estimates and may be impacted by unscheduled maintenance, labour and
contractor availability; (2) capital expenditures and other cash costs, which assume foreign exchange rates and accuracy of production
estimates, and may be impacted by unexpected maintenance, the need to hire external resources and accelerated capital plans; (3)
profits and free cash flow, which assume production and expenditure estimates and may be impacted by gold prices, production estimates,
and the timing of payments, and (4) reserves and resources which are forward looking statements by their nature involving implied
assessment, and may be impacted by metal prices, future drilling results, operating costs, mining recoveries and dilution rates.
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/2015/02/19/20150219_C9745_DOC_EN_43380.pdf
%CIK: 0001078217
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 16:30e 19-FEB-15