Aug 15 Labrador Iron Mines Holdings Ltd
reported a wider quarterly loss on lower iron ore prices and
higher-than-expected production costs.
The net loss widened to C$10.6 million ($10.69 million), or
16 Canadian cents per share, for April-June from C$4.7 million,
or 9 Canadian cents per share, a year earlier.
The company, which started commercial production in April,
reported revenue of C$38 million for the quarter.
Excluding certain non-recurring charges, operating costs
were about C$64.50 per tonne sold.
Shares of the company, which has a market value of $137.2
million, closed at C$2.02 on Tuesday on the Toronto Stock
($1 = 0.9919 Canadian dollars)
(Reporting by Shounak Dasgupta in Bangalore; Editing by Don