June 6, 2011 / 9:48 PM / in 7 years

UPDATE 1-Minera Andes posts Q1 profit, restates FY 2010 results

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June 6 (Reuters) - Canadian miner Minera Andes posted a quarterly profit helped primarily by increased production from its flagship San Jose mine and higher gold and silver prices.

Net income for the quarter was $17.0 million, or 6 cents per share, compared with a loss of $2.9 million, or 1 cent per share, a year ago.

The company had earlier reported higher first-quarter production from the San Jose mine in Argentina. [ID:nL3E7FK2E0]

The company said it was restating its full-year 2010 results to include a charge of $11.4 million in its income from investments.

Shares of Toronto, Ontario-based Minera closed at C$2.26 on Monday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Sriraj Kalluvila)

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