April 7, 2010 / 4:55 PM / 8 years ago

UPDATE 1-Semafo's Q1 production up 13 pct

* Backs 2010 outlook

* Produces 65,800 ounces of gold in Q1

April 7 (Reuters) - Gold miner Semafo Inc’s SMF.TO first-quarter production rose 13 percent and the firm backed its 2010 production outlook.

The company said its Mana Mine in West Africa, which accounted for 63 percent of total production in the last quarter, is expected to produce about 46,000 ounces of gold every quarter for the rest of the year.

Semafo produced 65,800 ounces of gold in the first quarter, and the average selling price was $1,111 per ounce, it said.

The company expects to produce 235,000 to 260,000 ounces of gold in 2010.

Shares of the company were little changed at C$5.84 Wednesday afternoon on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Ratul Ray Chaudhuri)

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