Meridian Gold Inc. (MDG)on Wednesday lowered its 2006 total gold production outlook after it revised production estimates of its El Penon mine and said its third-quarter results would be hurt by a charge of $6.7 million.

The gold miner said, in a statement, it now expected 2006 total production of 235,000 ounces of gold, compared with the 260,000 ounces it expected earlier.

Meridian had in July said the El Penon mine was in a year of transition as the company moved to newer areas in the mine and expanded plant capacity.

The company said the third-quarter charge related to transition costs associated with the recruitment of Edward Dowling as chief executive officer and president, and the transition of Brian Kennedy to chairman of board as of Jan 1, 2007.