UPDATE 2-Minefinders Q3 loss narrows, cuts '09 production view

* Q3 loss of $0.01/shr vs $0.14/shr last year

* Sees to sell 1.4 mln ounces of silver in '09

* Sees '09 gold sales at 80,000 ounces

* Sees higher output, lower costs at Dolores from Q2, 2010

* Shares fall as much as 3 pct (Adds details, analyst comments, updates share movement)

Nov 9 (Reuters) - Canada's Minefinders Corporation Ltd (MFL.TO) posted a narrower third-quarter loss, reflecting the transition to commercial production from pre-commercial production at its gold and silver Dolores mine in Mexico, but cut its production outlook for the full year.

Minefinders now expects to sell about 1.4 million ounces of silver and 80,000 ounces of gold in 2009. Previously it expected to sell 1.8 million to 1.9 million ounces of silver, and 85,000 ounces to 95,000 ounces of gold.

The company said it is expecting to sell gold at cash operating costs of $520 to $530 per gold-equivalent ounce, assuming a 71 to one silver to gold ratio.

"It is what I would call somewhat disappointing, but the outlook is not terribly negative," Canaccord Adams analyst Wendell Zerb said in a note to clients.