June 5, 2012 / 2:48 PM / in 6 years

San Gold shares down after technical snag halts milling ops

June 5 (Reuters) - San Gold Corp’s shares fell as much as 14 percent on Tuesday morning after it said milling operations at its complex in Manitoba were temporarily interrupted due to damage to the ball mill motor.

Repairs at its Rice Lake mining complex are underway and normal milling operations will resume within the next three weeks, the gold producer said in a statement.

San Gold said its milling capacity improved substantially during the second quarter and it does not expect this incident to affect its 2012 production outlook of 95,000 to 105,000 ounces of gold produced.

The company’s shares, which have fallen 28 percent so far in 2012, were down 4 percent at C$1.47 on the Toronto Stock Exchange. The stock touched a low of C$1.30 earlier in the day. (Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)

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