* Q3 loss $0.20/share vs year-ago profit $0.35
* Revenue falls 75 percent to $68.8 million
* Kumtor reserves up 58 percent, mine life extended
* Shares down 3.6 pct in morning trade
Nov 8 (Reuters) - Shares of Centerra Gold Inc fell on Thursday, a day after the Canadian gold miner reported a quarterly loss due to higher costs and sharply lower output at its Kumtor mine in Kyrgyzstan.
The Toronto-based miner increased its proven and probable reserves at the high-altitude gold mine by 58 percent, to 9.7 million ounces, extending Kumtor’s mine life by five years.
Centerra shares were off 39 Canadian cents to C$10.42 in morning trade on the Toronto Stock Exchange.
Late Wednesday the company reported a net loss of $46.8 million, or 20 cents a share, for the quarter ended Sept 30, compared with earnings of $83.7 million, or 35 cents a share, in the year-earlier period.
Excluding an abnormal mining charge related to ice removal and other one-time items, the loss was 10 cents a share. On that basis, analysts’ average forecast was a loss of 21 cents, according to Thomson Reuters I/B/E/S.
Revenue slumped 75 percent to $68.8 million as production declined 72 percent to 42,723 ounces.
Lower grades, lower recoveries and reduced operations were all factors in the production decline. Centerra also reported far higher cash costs - $1,401 per ounce in the quarter compared with $556 a year earlier.
The average realized gold price in the quarter fell slightly to $1,667 from $1,705 in the year-ago quarter.