UPDATE 2-Canadian miners cut jobs, spending as metal prices fall

Mon Apr 29, 2013 3:42pm EDT
 
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* Endeavour Silver to defer 20 pct of capital investments in 2013

* Says cost cuts will not impact silver output at Mexican mines

* Osisko Mining says to reduce workforce by about 6 pct

* Endeavour Silver shares rise 4 pct; Osisko up 8 pct

* Orosur Mining shares plunge 31 pct on revenue warning

By Bhaswati Mukhopadhyay

April 29 (Reuters) - Three Canadian gold and silver miners announced cost cutting on Monday to try to protect their earnings in the face of falling precious metal prices.

Endeavour Silver Corp, Osisko Mining Corp and Orosur Mining Inc said they plan to reduce their workforce to cope with lower prices and margins this year.

The shares of Orosur slid 31 percent as it warned revenue would fall but shares of the other two rose in response to their cost cutting.   Continued...