January 11, 2012 / 1:32 PM / in 6 years

UPDATE 1-Aurizon sees lower gold production in 2012

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Jan 11 (Reuters) - Aurizon Mines forecast a 2 percent to 5 percent dip in gold production this year due to an expected decline in ore quality at its flagship mine in Quebec.

The Vancouver, British Columbia-based company said it expects to produce 155,000 to 160,000 ounces of gold in 2012 from the key Casa Berardi mine.

The company produced 163,845 ounces of gold in 2011, slightly below its expectation of about 165,000 ounces, Aurizon said in a statement.

Capital expenditure at the mine is expected to rise to C$80 million this year from C$39.3 million last year as the gold miner continues shaft deepening at the mine.

Shares of Aurizon, which focuses on projects in the Abitibi region of north-western Quebec, closed at C$5.48 on Tuesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Sreejiraj Eluvangal)

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