28
Mar
20:38
New Millennium records fiscal 2016 loss
Canadian iron ore developer New Millennium Iron Ore finished fiscal 2016 in the red while work progresses on the company’s NuTac project, Kallanish reports.
New Millennium witnessed a loss of CAD 5.573 million ($4.163m) in the fiscal year ended 31 December 2016, down from a loss of CAD 32.611m in fiscal 2015. The discrepancy is primarily due to a CAD 26.798m impairment charge incurred in 2015.
The company’s so-called NuTac project in the Labrador …
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