Brigus Gold posts profit on higher price

Thu Mar 29, 2012 7:07am EDT

(Reuters) - Brigus Gold Corp BRD.TO posted a fourth quarter profit as higher average gold price offset lower sales volume.

October-December net income came in at $2.2 million, or 1 cent per basic share, compared with a net loss of $29.1 million, or 25 cents per basic share, a year ago.

Revenue fell 6 percent to $21.1 million.

Brigus Gold's shares, which have shed 44 percent of their value in the last four months, closed at 74 Canadian cents on Wednesday on the Toronto Stock Exchange.

(Reporting by Ankur Banerjee in Bangalore; Editing by Don Sebastian)

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