Better earnings help Brunswick reduce losses

An improved fourth quarter allowed Brunswick Mining and Smelting to cut its 1986 loss to $6.9 million, compared with a loss of $5.6 million in 1985.

Net earnings during the last quarter of 1986 were $1.2 million (3 cents per share) compared with a loss of $3.3 million (9 cents per share) for the same period in 1985.

The company attributes the quarterly gain to cost containment and improved operating results.

While lead prices strengthened through seasonal demand, prices for zinc declined with settlement of supply disruptions and year-end inventory values were reduced to $790(US) per tonne of zinc from $920 at Sept 30.

Final net earnings for the quarter and the year include a provision of $2.3 million for a writedown in the value of oil and gas investments.