June 8, 2012 / 2:23 PM / 6 years ago

UPDATE 1-Gran Colombia cuts production outlook, shares fall

June 8 (Reuters) - Canada’s Gran Colombia Gold Corp cut its gold production outlook for the year as one of its processing plants operated at a lower capacity, sending its shares down to a near 3-year low.

Gran Colombia said it has cut its full-year 2012 production target to between 115,000 and 135,000 ounces of gold, from 155,000 ounces.

The Maria Dama plant at the company’s Segovia operations in Colombia operated at a lower capacity because of power supply interruptions, the company said in a statement.

The company also cut its production outlook for the year on lower-than-expected g rades of ore in March, April and May at the Segovia operations.

Gran Colombia shares were down about 2 percent at 33.5 Canadian cents in early trading on the Toronto Stock Exchange. They touched a low of 31.5 Canadian cents earlier.

Reporting by Shounak Dasgupta in Bangalore; Editing by Supriya Kurane

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