March 30, 2011 / 10:38 PM / 7 years ago

UPDATE 1-Aura Minerals Q4 net loss quadruples on impairment charges

* Q4 net loss/shr $0.12 vs C$0.04

* Q4 total sales up to $57.7 mln

* Sees 2011 gold production of 80,000-90,000 ounces (Follows alerts)

March 30 (Reuters) - Canada’s Aura Minerals’ quarterly net loss quadrupled as a three-fold rise in sales was offset by impairment charges, and the gold producer said it expects to produce at least 13 percent more gold in 2011.

Aura said 2011 gold production is expected at 80,000-90,000 ounces, up from the 70,460 ounces produced in 2010.

Net loss for the fourth quarter was $25.8 million, or 12 cents a share, compared with a loss of $5.9 million or 4 cents a share, a year ago.

Adjusted income for the quarter was one cent per share, compared with a net loss of 3 cents apiece, a year ago.

Aura said it incurred a goodwill impairment charge of $24.3 million related to its Sao Vicente mine in Brazil.

Total sales rose nearly three fold to $57.7 million. Aura produced 44,449 ounces of gold in the fourth quarter.

Shares of the company closed at C$3.05 on Wednesday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar;Editing by Vyas Mohan) (abhiram.nandakumar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: abhiram.nandakumar.thomsonreuters.com@reuters.net)

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