January 13, 2010 / 2:42 PM / 9 years ago

UPDATE 1-Gammon Gold reports lower fourth quarter production

* Q4 gold production of 64,007 gold equivalent ounces

* Total cash costs up to $422

Jan 13 (Reuters) - Canadian gold and silver producer Gammon Gold Inc GAM.TO reported lower quarterly production, hurt by “unanticipated events” at its Ocampo mine.

The company said it produced 64,007 gold equivalent ounces in the fourth quarter, down from 73,766 ounces produced a year ago, at an equivalency ratio of 55:1.

Total cash costs per gold equivalent ounce rose to $422 from $364 a year ago.

Gammon said unseasonal rainfall in October and engineering problems at its mills impacted operations at its Ocampo mining facility.

Silver production fell 10 percent to 1,481,773 ounces.

Shares of Gammon closed at C$11.92 Tuesday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Jarshad Kakkrakandy)

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