January 13, 2011 / 3:24 PM / 7 years ago

UPDATE 1-Claude Resources Q4 gold production falls 8 pct

* Q4 gold production at 13,200 ounces

* Says to ramp up production at Santoy 8 mine

Jan 13 (Reuters) - Canadian mineral explorer Claude Resources Inc CRJ.TO posted an 8 percent decline in fourth-quarter gold production, and said it expects to ramp up production at its Santoy 8 mine in Saskatchewan from the first quarter.

Calgary, Alberta-based Claude said it produced 13,200 ounces of gold in the fourth quarter, down from 14,300 ounces, a year ago. Full-year gold production was about 47,300 ounces.

The company said it expects to ramp up production at its Santoy 8 mine, located near its Seabee gold mine in Saskatchewan, from 200 tonnes per day in the first quarter.

The company's shares, which have risen 37 percent in the last month, were down 6 Canadian cents at C$2.21 on Thursday morning on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Vyas Mohan)

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