Cassiar Asbestos Corporation Limited

and its subsidiary

STATEMENT OF CONSOLIDATED SOURCE AND APPLICATION OF FUNDS

For the year ended December 31, 1966
(with comparative figures for the year 1965)

1966
Working Capital (current assets less current liabilities), beginning
OMY Cate tia a pos one ea ca ee. aha SE cae Pend area = Rs ie $ 3,272,348
Source of Funds:
Operations —
ING HR PION te eented eee eee yee oe sen at oes, Nee ee 4,145,766
QUaPOING CONS AWN 2. oe ce a os aos oae 1,539,972
Exploration and preproduction costs written “off ee 76,551
DEpleciatlo nun ee reer arere gee 1,439,523
Taxes on income demred {i MUWRS \WERTRS 2 a sc oe 1,875,000
9, 076,8 812
Sale of investments — Clinton Mine Funds ........ 7,729,430
Repayment of note receivable by Territorial PSUePY Company
TETTINItE Bay ee ae eee ese sic AUS —
Saley Ofus hanes eae ire ee rose ae estek aes eae Pa ee —
16,806,242
Application of Funds: Sines
Dividend stare tare er Cater teenneee Suariauet same eereres Wye os 2,865,000
Cassiar Mine — Plant and equipment ................. 1,078,439
1S (ip pin PalCOS{S een Rees 2,508,192
Clinton Mine — Plant and equipment ................. 7,490,668
— IP MOGIEMOM oso se so se sass sce sass 2,719,191
Exp lorationgcostswmr ees ere yer) tthe hearer ee 269,778
Speciallsretundalb lem taxes ai clement neta a 105,000
Lome term Cot TebMe o.oo asco ce cos seu as eaoscas a 75,000
Transport Division — Plant and equipment......... See 284,668
Asbestos Wharf — Plant and equipment ............... 28,220
17,424,156
Purchase of investments — Clinton Mine Funds.......... —
17,424,156
Net decrease in working capital ............... Ean REG e SG 617,914
Wodsing Cayptiall, Gaal OR WEEie ooo. o cans c cos cdadosesosg0s00s $ 2,654,434

PAGE NINE

$

1965

3,497,143

3,688,472
1,249,525

46,152
1,134,471
1,070,000

7,188,620

50,000
9,740,000

16,978,620

2,748,750
1,122,709
DMN IIR
355.984
737,708
21,656
75,000
270,997
990,020

9,038,602

8,164,813

17,203,415

a

224,795

3,272,348