Page 15 Page 14 By Gregory Reynolds AuRico Gold Inc. has joined the ranks of the dividend paying gold producers. On March 25, 2013 the company an - nounced that its board of directors had declared the company’ s initial quarterly dividend payment of $0.04 per share for the frst quarter ended March 31, 2013. Using the average gold price real - ized during 2012, the annual dividend payment represents an equivalent of approximately 23,500 ounces of gold, or 18% of 2012 annual gold produc - tion, from continuing operations. For 2012, the company reported the following results from continuing op - erations: Revenues of $163.6 million; adjust - ed net earning s of $34.7 million, or $0.12 per share; net earnings of $29.2 million, or $0.10 per share, prior to a $127 million non-cash goodwill char ge related to the El Chanate mine, as provided under IFRS accounting standards; production of 127,283 gold ounces at cash costs of $516 per gold ounce and operating cash fow (before changes in working capital) of $39.1 million, or $0.14 per share. “The sale of Ocampo in mid-Decem - ber marked the completion of a two- year initiative aimed at improving the quality of our asset base in order to reposition the company for low cost, quality production and deliver reli - able, sustainable and consistent per - formance going forward. W e have delivered on our commit - ment to shareholder friendly initia - tives through the completio n of a $300 million share buy-back in late January , as well the recent implemen - tation of a peer leading ongoing divi - dend policy ,” said Scott Perry , presi - dent and CEO, on March 25. He continued that “at our cornerstone Y oung-Davidson mine, the construc - tion of the mid-shaft crushing and loading infrastructure is advancing on schedule and once commissioned, will be the key catalyst in driving the Company’ s growing production pro - fle and cash fow steams over the next few years.” AuRico is a leading Canadian gold producer with mines and projects in North America that have signifcant production growth and exploration potential. The company is focused on its core operations including the Y oung -Davidson gold mine in North - ern Ontario, which declared commer - cial production on Sept. 1, 2012 and the El Chanate mine in Sonora State, Mexico. AuRico’ s project pipeline also in - cludes advanced developm ent op - portunities in Mexico, and British Columbia. AuRico’ s head offce is located in T oronto. The Y oung-Davidson Mine is located near the community of Matachewan, approximately 60 km west of the his - toric Kirkland Lake Gold Camp in Northeastern Ontario. The property consists of contiguous mineral leases and clai ms tota lling 1 1,000 acres and is situated on the site of two former Cont’d on pg. 16 Rich Y oung-Davidson Gold Mine leads AuRico to start paying dividend