McIntyre Mines reports a 1986 net loss, after extraordinary items, of $34,323,000, or $9.42 per share, compared with a loss in the previous year of $26,255,000, or $7.23 per share.
The extraordinary items in 1986 include a loss of $48,376,000 from disposal of the company’s coal mining operations, and McIntyre’s $16,096,000 share of extraordinary gains reported by Falconbridge Ltd.
McIntyre says the 1986 results reflect the disposal in 1987 of substantially all of the company’s coal mining operations and that 1985 results have been reclassified accordingly.
It says income from continuing operations (a reported loss of $3,995,000 in 1986) includes a loss of $2,500,000 in 1986 and earnings of $8,752,000 in 1985 from the company’s equity accounted investment in Falconbridge.
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