January 19, 2011 / 2:34 PM / 7 years ago

UPDATE 1-Minera Andes Q4 silver, gold sales up on higher grades

* Q4 gold sales up 40 pct

* Q4 silver sales up 94 pct

Jan 19 (Reuters) - Canada’s Minera Andes MAI.TO reported a surge in fourth-quarter silver and gold production at its flagship San Jose, Argentina mine, helped by increased mill throughput, metallurgical recoveries and higher grades for silver.

Fourth-quarter net gold sold was up 40 percent to 26,900 ounces while silver sales rose 94 percent to 1,916,163 ounces.

Fourth-quarter production of silver rose 81 percent while gold production was up 31 percent compared to last year.

Minera shares, which have gained 26 percent since it posted a sequential surge in gold and silver sales in the third quarter, closed at C$2.43 on Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Joyjeet Das)

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