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NovaGold cuts Q3 loss to $21.5M; cites reversal in decommissioning expense

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The corporate logo of NovaGold Resources Inc. is shown. THE CANADIAN PRESS/HO

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.

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