February 28, 2011 / 8:17 PM / in 7 years

UPDATE 1-Osisko trims loss, sees Malartic output in May

* Q4 nil/shr vs analyst view loss of C$0.01

* Sees production at Canadian Malartic project in May

* Shares down 0.44 percent at C$13.44 on TSX

TORONTO, Feb 28 (Reuters) - Osisko Mining (OSK.TO) reported a smaller quarterly loss on Monday and said its Canadian Malartic operation was on track to start production within a few months.

The gold junior posted a loss of C$1.2 million, or nil per share, in the fourth quarter, ended Dec. 31. That compared with a loss of C$8.4 million, or 3 Canadian cents a share, in the year-earlier period.

Analysts had expected a loss of 1 Canadian cent per share, on average, according to Thomson Reuters I/B/E/S.

Osisko said construction at its Canadian Malartic mine in the province of Quebec was 90 percent complete, with production expected to begin in May this year.

Shares of the company were down 0.44 percent at C$13.44 Monday afternoon on the Toronto Stock Exchange. (Reporting by Julie Gordon; editing by Rob Wilson)

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