January 25, 2010 / 5:36 PM / 8 years ago

UPDATE 1-La Mancha sees 2010 gold production rising up to 48 pct

* Sees FY10 gold producion at 120,000-140,000 ounces

* Sees FY10 avg cash cost at $539/ounce

* FY09 production at 94,570 ounces

* Says White Foil mine to start operations in March

Jan 25 (Reuters) - Canada’s La Mancha Resources Inc LMA.TO on Monday said it expects to increase consolidated gold production by up to 48 percent in 2010, helped by a ramp-up of operations at its Australian mines.

The gold miner expects to produce between 120,000 to 140,000 attributable ounces of gold in 2010 at an estimated average cash cost of $539 per ounce in 2010.

It produced 94,570 ounces of gold for 2009.

La Mancha said its key Frog’s Leg mine in Australia will contribute between 62,000 ounces to 70,000 ounces of gold in 2010, up from the 46,120 ounces it produced in 2009.

It also said its new Australian White Foil mine was set to start operations in March.

For the fourth quarter ended Dec. 31, the company produced 23,683 attributable ounces of gold.

Shares of the company were down 3 Canadian cents at C$1.72 in the afternoon trade on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Jarshad Kakkrakandy)

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