08:18 AM EDT, 08/15/2019 (MT Newswires) -- RNC Minerals (RNX.TO) on Thursday said its second-quarter loss widened as revenue fell 46% following the decommissioning of one of the company's Australian mines.

RNC said it lost $16.18 million, or $0.03 per share, compared to a loss of $1.13 million, or nil, in the second quarter of 2018. Revenue fell to $17.25 million from $31.87 million in the year-prior period, when the now-closed Reed mine contributed $10.3 million in revenue.

The Australian miner's gold production dropped 17% to 11,056 ounces as it processed lower quality ores and paused bulk mining operations at one location to carry out an exploration program.

Still, RNC said it expects an improved second half as it integrates the operations of the recently acquired Higginsville Gold Operations.

The company's shares closed down $0.02 to $0.51 Wednesday on the Toronto Stock Exchange.

Price: 0.5100, Change: -0.0200, Percent Change: -3.77