Lornex ups profit

Net earnings for 1986 were $27.3 million or $3.30 per share, Lornex Mining Corp. reports. That represents a 13% increase in profits over those realized in the previous year.

Revenues, however, declined to $206.7 million during the year, compared to $243.7 million generated in 1985. The increase in earnings then, is attributed to reductions in operating costs and other expenses, the company says. Lornex has a 45% interest in the Highland Valley copper-molybdenum mining operation in B.C., and a 39% stake in the Bullmoose coal mine.