Topic: How To Invest

Hi Pat: What is your opinion of Aurizon Mines? I await your reply. Thanks

Article Excerpt

Aurizon Mines, $5.19, symbol ARZ on Toronto (Shares outstanding: 158.9 million; Market cap: $825.1 million), operates the Casa Berardi mine in the Abitibi region of Quebec. It’s also developing its advanced-stage Joanna gold project, as well as its Kipawa gold/rare-earth early-stage exploration prospect. Both are also in the Abitibi region. Casa Berardi generates annual production of around 155,000 ounces of gold for Aurizon. The company is using the cash flow from Casa Berardi to add to the mine’s reserves through exploration drilling. It is also putting these funds toward developing its Joanna project. The company has completed a positive pre-feasibility study at Joanna, and will now undertake a final feasibility study. A proposed open-pit operation at Joanna has the potential to increase Aurizon’s gold production by over 60%, to about 260,000 ounces per year. In the three months ended September 30, 2009, Aurizon’s revenue rose 24.4%, to $44.2 million from $35.5 million. Cash flow per share was up 44.4%, to $0.13…