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Magna Mining Q2 Adjusted Loss Narrows

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Magna Mining (NICU.TO) reported second quarter adjusted net loss per share C$0.03 compared to C$0.04, a year earlier.

Net revenue from mining operations increased to C$29.7 million in the quarter, compared with C$15.7 million, a year-ago.

"We are firmly on track to meet our full year guidance at McCreedy West on all metrics, with cash flows helping support our Levack and Crean Hill projects, both of which have new technical studies that are on schedule for completion during Q3," said Magna Mining CEO Jason Jessup.

Shares of the company closed up 6.2% to C$2.75 on Wednesday on the Toronto Stock Exchange.

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