New Millennium Iron Corp Reports Earnings Results for the First Quarter Ended March 31, 2016
May 17, 2016 at 10:58 pm IST
New Millennium Iron Corp. reported earnings results for the first quarter ended March 31, 2016. For the quarter, net loss was $1,643,000 or $0.01 per share compared to a net loss of $1,156,000 or $0.01 per share for the comparative period in 2015. This loss represents general and administrative expenses of $1,692,000 partially offset by investment income of $49,000. The increase in the quarter's general and administrative expenses is mainly due to expenditures of $696,000 relating to the Special Meeting of shareholders and that with the wind down of the Taconite Feasibility Study there was no general and administrative expense recovery from Tata Steel during the quarter.