NWM Mining Corp. (NWM.V: News ) Monday reported second-quarter net loss of C$1.4 million or C$0.004 per share, compared to net loss of C$1.2 million or C$0.01 per share in the same quarter of 2010.
NWM said that since it has not declared commercial production at the Lluvia-Jojoba project, pre-production revenue has been applied against capitalized pre-production expenditures. In contrast, the company reported no operating revenue for the prior-year quarter.
During the quarter, NWM said construction work began on the Lluvia Dos leach pad facility, and starting the last week in August, this new leach pad was commissioned and started to receive ore.
The company said that for August, gold production totaled 1440 ounces, and anticipates 10000 ounces to be produced by the end of 2011.
