| 08 Nov 2010 18:19 ET |  |
* Q3 loss/shr
.07 vs est loss/shr
.02
* Q3 rev down 44 pct to $13.6 mln
* Sees Q4 gold production of 11,000-12,000 ounces
* Sees 2010 gold production of 51,000-52,000 ounces
Nov 8 (Reuters) - Canadian gold and silver miner MinefindersCorp posted a wider-than-expected third quarter loss, asproduction fell drastically, hurt by damage at a facility, andlowered its production outlook for 2010.
Fourth-quarter production is now expected to be 11,000-12,000ounces of gold and 500,000-600,000 ounces of silver, while goldproduction for 2010 is estimated at 51,000-52,000 ounces andsilver output at 1.2 million-1.3 million ounces.
In March, the company said it estimated full-year gold outputof about 91,000-100,500 ounces and silver production of about2.3-2.6 million ounces.
For the July-Sept. quarter, net loss was $4.8 million, or 7cents per share, compared with $700,000, or 1 cent per share, ayear ago, while revenue fell 44 percent to $13.6 million.
Analysts on average were expecting a loss of 2 cents pershare on revenue of $26.46 million, according to Thomson ReutersI/B/E/S.
Minefinders produced 7,447 ounces of gold in the quarter,down from 19,305 ounces a year ago, while silver production was184,887 ounces, almost half of the output in the same periodlast year.
Shares of the Vancouver, British Colombia-based Minefinders,which have lost nearly 13 percent year-to-date, closed at C$9.65on Monday the Toronto Stock Exchange.