Casa Berardi hits Aurizon’s top line (August 10, 2007)

Revenues were up drastically at Aurizon Mines (ARZ-T, AZK-X) in the second quarter of 2007, thanks to the resumption of production at the Casa Berardi gold mine in northwestern Quebec.

Aurizon made $7 million (5 per share) on revenues of $19.1 million in the quarter, up from a loss of $11.9 million on no revenues in the second quarter of 2006. For the first half of the year — with Casa Berardi coming into commercial production at the beginning of May — Aurizon is showing $7.6 million in net earnings on revenues of $19.6 million.

Casa Berardi produced 27,175 oz. gold in the last two months of the quarter, with 26,000 oz. sold. Its total cash costs — cash operating cost plus royalties — was US$298 per oz.

Aurizon also announced a mineral resource estimate at the Joanna property on the Cadillac break, about 20 km east of Rouyn-Noranda, Que., where it is earning a 100% interest. Indicated resources on two blocks total 7.1 million tonnes at a grade of 1.8 grams gold per tonne, and inferred resources total 24.5 million tonnes at 1.6 grams gold per tonne.

At Casa Berardi, a resource estimate puts the size of the property’s Lower Inter Zone at 973,000 tonnes indicated, at 11.6 grams gold per tonne. Another 43,000 tonnes grading 5.6 grams per tonne is in an inferred resource.