July 29, 2010 / 3:20 PM / 8 years ago

First Uranium shares up on production results

* Gold production rises at mine and tailings project

* Shares up 13 pct at C$1.07

TORONTO, July 29 (Reuters) - Shares of First Uranium FIU.TO were up 13 percent on Thursday as the Canadian gold and uranium miner reported a hefty boost in gold production at its mine and tailings recovery projects in South Africa.

Gold output at the Ezulwini mine more than tripled in the company’s financial first quarter to 14,120 ounces versus 3,794 ounces in the year-before period.

First Uranium said it expects to produce 81,000 ounces of gold and 117,000 pounds of uranium at the Ezulwini mine in the Johannesburg area in the 2011 financial year, which runs from April to March.

The Toronto-based miner also produced 20,215 ounces of gold in the financial first quarter from its Mine Waste Solutions tailings recovery project, up 84 percent from year-before production of 11,007 ounces.

First Uranium said the MWS facility, 140 kilometres (88 miles) from Johannesburg, was performing better than expected due to improved stability.

Shares in First Uranium were up 13 percent at C$1.07 in midmorning trade on the Toronto Stock Exchange.

$1=$1.04 Canadian Reporting by Julie Gordon; editing by Peter Galloway

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