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Aura Minerals announces widening of Q2 loss

The Canadian gold miner says its San Andres mine in Honduras was hit by heavy rains; the groupcut its full year production outlook

Posted: Thursday , 12 Aug 2010

(Reuters) - 

Canadian gold miner Aura Minerals Inc's (ORA.TO: Quote) second-quarter loss widened, hit by heavy rains at its San Andres mine in Honduras, and the company cut its full-year gold production outlook.

The company cut its gold production outlook to 157,000-167,000 ounces, from its previous view of 185,000-195,000 ounces due to bad weather in Honduras.

For the second quarter, the company posted a loss of $13.3 million, or 7 cents a share, compared with a loss of $3.6 million, or 3 cents a share, a year ago. Aura reported sales of $38.6 million.

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

Exploration expenses more than tripled to $6.6 million.

Shares of the Vancouver-based company closed at C$3.76 Wednesday on the Toronto Stock Exchange. (Reporting by NR Sethuraman in Bangalore)

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