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

UPDATE 1-Minefinders' sales rise 12 pct on silver production

2 Min Read

* Q4 rev $31.2 mln vs $27.8 mln last year

* Silver production up 72 pct

Jan 13 (Reuters) - Canadian precious-metals explorer Minefinders Corp's MFL.TO sales rose 12 percent, helped by higher silver production.

The company, which operates the Dolores gold and silver mine in Mexico, posted a revenue of $31.2 million, compared with $27.8 million a year-ago.

Silver production rose 72 percent to 511,544 ounces in the October-December quarter.

However, gold production dropped more than a fifth to 16,102 ounces but topped its forecast of 11,000-12,000 ounces.

Spot silver prices have rallied to a 30-year-high last year, soaring over 80 percent and outperforming gold which rose about 30 percent.

The Vancouver-based company's shares were trading flat at C$10.66 on Wednesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Joyjeet Das) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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