June 13, 2011 / 2:14 PM / in 7 years

UPDATE 1-Endeavour Mining breaks even in Q1; shares up

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June 13 (Reuters) - Endeavour Mining Corp broke even in the first quarter, from a loss last year, and the gold producer backed its full-year production forecast, sending its shares up 13 percent.

The company posted a loss of $36.5 million last year.

Gold revenues rose 47 percent to $26.1 million.

Endeavour’s first-quarter gold production rose 13 percent.

Endeavour also backed its 2011 output forecast of 84,000 ounces of gold, at a cash cost of about $600 per ounce.

Last September, the company changed its name from Endeavour Financial Corp to reflect its transformation into an operating gold mining company.

Shares of the Cayman Islands-based company were trading up 11 percent, or 24 Canadian cents, at C$2.41 on Monday on the Toronto Stock Exchange. Earlier they touched a high of C$2.45. (Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)

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