May 12, 2010 / 10:31 PM / 7 years ago

UPDATE 1-Aura Minerals Q1 loss slims on better gold production

* Q1 loss/shr $0.01 vs loss/shr $0.07

* Production up 32 pct

* Sees 2010 gold production at 185,000-195,000 ounces

May 12 (Reuters) - Exploration and development company Aura Minerals Inc (ORA.TO) posted a narrower quarterly loss, as gold production grew 32 percent.

The company reaffirmed its full-year gold production outlook of 185,000 ounces to 195,000 ounces.

It sees capital expenditure at $65 million.

For the first quarter, the company posted a loss of $1.3 million, or 1 cent a share, compared with $8.7 million, or 7 cents a share a year ago.

Excluding certain items, the company earned 2 cents a share.

Revenue rose to $19.8 million from $35,000 a year ago, helped by a 32 percent increase in gold production at 19,299 ounces.

Shares of the Vancouver-based company closed at C$4.42 Wednesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Don Sebastian)

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