ARZ Zeroes In

ALKA SINGH, Jennings Capital Inc. (01/12/2011)
"2010 production and cash costs in line with our estimates: Gold production from Casa Berardi Mine was 141,116 oz. at total cash cost per ounce of USD$535/oz for 2010. We were estimating gold production of 141,000 oz. at total cash cost per ounce of USD$540/oz. . .Aurizon provided production guidance of 165,000 –170,000 oz. of gold in 2011 at total cash costs of USD$ 495/oz. assuming a CAD/USD exchange rate of one. . .

Exploration to be the focus in 2011: Exploration expenditures at Casa Berardi and Joanna are expected to be CAD$ 17.1M. The company will also spend CAD$ 51.1M at Casa Berardi for shaft deepening, equipment, infrastructure and sustaining capital this year. Aurizon will also spend CAD$ 21.1M on exploration at other properties. Maintaining Market Outperform rating."

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