May 5, 2010 / 10:02 PM / in 8 years

UPDATE 1-Minefinders posts narrower Q1 loss

* Q1 breakeven/shr vs loss/shr $0.10 yr ago

* Revenue $26.4 mln

* Gold sales up 48 pct at 19,684 ounces

May 5 (Reuters) - Minefinders Corp Ltd MFL.TO posted a narrower first-quarter net loss, helped by increased gold production and sales.

For the quarter, net loss was $0.3 million, or break even per share, compared with a net loss of $6.2 million, or 10 cents per share, a year ago.

Revenue stood at $26.4 million.

Gold sales jumped 48 percent to 19,684 ounces of gold, the company said in a statement.

Quarterly gold production was 18,778 ounces, up from 14,169 ounces from a year ago period.

Silver production was 245,086 ounces, down from 282,429 ounces produced in the first quarter of 2009.

Analysts on average were expecting the company to earn 2 cents per share, according to Thomson Reuters I/B/E/S.

Shares of Vancouver, British Columbia-based Minefinders closed at C$9.82 Wednesday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Jarshad Kakkrakandy)

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