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New Millennium Iron Cuts Loss in Q3 But Shares Down 8%

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New Millennium Iron Corp. (NML.V) shares are in the red today amid a broad selloff despite the company's announcement that its quarterly loss decreased significantly.

NML shares went down nearly 8% to day low $1.20 despite the company's report that during the third quarter 2011, its loss narrowed to $1.8 million from the previous year's $7.1 million. The company that controls the emerging Millennium Iron Range in Newfoundland and Labrador and Quebec, however, didn't report revenue for the quarter.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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