March 19, 2010 / 12:42 PM / 8 years ago

UPDATE 1-Aurizon posts Q4 profit; sees 2010 gold production dip

* Q4 EPS C$0.06 vs loss C$0.03/shr

* Rev up 12 pct

* Sees 2010 gold production at 145,000-155,000 ounces

March 19 (Reuters) - Aurizon Mines Ltd ARZ.TO posted a quarterly profit, helped by gains from higher gold prices, but said expects gold production from a key mine to dip in 2010.

The Canadian gold producer sees production of about 145,000-155,000 ounces in 2010, compared with 159,261 ounces in 2009, at its Casa Berardi mine, hurt by lower average gold grades, especially in the first part of the year, it said.

In the fourth quarter, Aurizon earned C$9.9 million, or 6 Canadian cents a share, compared with a loss of C$4.1 million, or 3 Canadian cents a share, a year ago.

Revenue from mining operations rose 12 percent to C$42 million.

Analysts on average were expecting earnings of 4 Canadian cents a share on revenue of C$36.7 million, according to Thomson Reuters I/B/E/S.

Results were positively impacted by higher realized gold prices and the recognition of C$4.5 million of non-refundable tax credits, Aurizon said in a statement.

Shares of the company closed at C$4.75 Thursday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Bijoy Koyitty)

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