NovaGold cuts Q3 loss to $21.5M; cites reversal in decommissioning expense
The corporate logo of NovaGold Resources Inc. is shown. THE CANADIAN PRESS/HO
October 11, 2012 - 7:42 AM
VANCOUVER - NovaGold Resources Inc. (TSX:NG) is reporting a third-quarter net loss of $21.5 million or eight cents per share. The net loss for the three months ended Aug. 31 is less than half the net loss of $52.1 million or 22 cents per share it reported in the same year-earlier quarter. The company credited the improvement primarily to the recovery of a decommissioning expense of $3.1 million in the 2012 quarter compared with an expense of $20.6 million for the corresponding period in 2011.
News from © The Canadian Press, 2012