November 12, 2009 / 7:23 AM / in 8 years

UPDATE 1-Anvil Mining Q3 loss narrower than expected

* Q3 loss $0.00/shr vs yr-ago loss $0.24/shr

* Q3 revenue falls 57 pct

Nov 12 (Reuters) - Canada’s Anvil Mining Ltd AVM.TO posted a small quarterly loss that was narrower than expected, helped by higher copper production at one of its plants.

For the third quarter, the company reported a net loss of $233,000, or broke even on a per-share basis, compared with a loss of $17.3 million, or 24 cents a share, a year ago. Revenue for the quarter fell to $18.1 million from $42.3 million last year.

Two analysts on average were expecting a loss of 8 cents a share, before items, according to Thomson Reuters I/B/E/S.

Since restarting operations in March, the Kinsevere Heavy Media Separation (HMS) plant produced 11,436 tonnes of copper contained in concentrate and generated gross revenue of $27.4 million, the company said.

“The performance of the Kinsevere HMS plant since recommencement of operations has exceeded expectations,” Chief Executive Bill Turner said.

Shares of the Montreal-based company closed at C$3.41 Wednesday on the Toronto Stock Exchange. (Reporting by Supantha Mukherjee in Bangalore; Editing by Ratul Ray Chaudhuri)

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