UPDATE 1-Semafo Q3 beats on higher production, prices

Wed Nov 10, 2010 5:37pm EST

* Q3 EPS $0.10 vs est $0.09

* Q3 rev up 45 pct

* Q3 gold production up 5 pct to 65,500 ounces

Nov 10 (Reuters) - Canadian gold miner Semafo Inc's (SMF.TO) quarterly earnings beat estimates for the second consecutive quarter, helped by higher gold production and prices.

For the July-September period, net income was $28.8 million, or 10 cents per share, compared with $13.4 million, or 5 cents per share, a year ago.

Revenue jumped 45 percent to $86.2 million.

Analysts on an average were expecting the company to earn 9 cents per share, on revenue of $78.94 million, according to Thomson Reuters I/B/E/S.

Semafo said gold production was up 5 percent at 65,500 ounces in the third quarter, with 71 percent of it coming from its flagship Mana mine in Burkina Faso in West Africa.

The Saint Laurent, Quebec-based company's shares, which have gained nearly 19 percent in the last month, closed at C$12.60 on Wednesday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Roshni Menon)

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