Ivanhoe Mines 3Q loss narrows

AP News
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Posted: Nov 13, 2009 6:25 PM

Ivanhoe Mines Ltd., a Canada-based mining company, said Friday that its third-quarter loss narrowed as it recorded revenue and decreased its exploration expenses.

For the quarter that ended Sept. 30, Ivanhoe reported a loss of $69.8 million, or 18 cents per share, compared with a loss of $88 million, or 23 cents per share, in the year-ago quarter.

The company's revenue totaled $11.9 million; it had no revenue in the same quarter last year. Exploration expenses declined 27 percent to $43.5 million from $59.7 million last year.