Cassiar Asbestos Corporation Limited

and its subsidiaries

STATEMENT OF CONSOLIDATED SOURCE AND APPLICATION OF FUNDS

For the Year Ended December 31, 1971
(with comparative figures for the year 1970)

1971 1970
Source of funds:
Operations —
Net profit (excluding gain on sale of assets) ........ $ 4,591,370 7,099,349
Waste removal costs amortized ................. 3,190,868 3,170,197
Preproduction and development costs amortized .... 877,635 666,235
Exploration’ costswhitten olf’ 24955. 9e45s soe. 169,170 175,432
Depreciationece me eae oa eae ae 4,096,354 3,939,274
mcomemtaxesiad eferned lameness ae ren re 2,270,000 620,000
15,195,397 15,670,487
Gapitalstocksissued meres sens ar ey ees 4,950,000
ILOMYS tin ONO OF lel OHM .. 5 250000-cacc1 0000; 5,000,000

Minority interest in consolidated subsdiary ............. 63,368

Salewofeinvestmentshes treater sete a ene eu ete es 767
20,196,164 20,683,855
Application of funds:
Plant and equipment (net) —
Cassiary Mine aie sure eee een 3,071,142 6,578,494
GhintoneMineiey ss pet irae ee oer co ee: 1,582,730 2,676,365
Eransport= Divisione eee ee (28,739) 507,273
Asbestos Wihathermre aera sara tet in eee 14,368 3,840
Whitehorse sae ype a eae ea ae ae (20,620) 135,158
Waste removal costs —
Gassiar Mine tee seren scree ees am ee 3,464,235 3,516,559
Glinton@Mine sss ee as sea ree 4,358,912 2,073,600
Employees’ home purchase agreements ................ 103,260 125,853
12,545,288 15,617,142
Exploration, development, mining claims and land (net) .. 656,298 334,584
Rurchasemoteinvestinentsa i ee 40,126
Minority interest in consolidated subsidiary ............ 10,459
ES Sa SO Ree AT Wiad cleanses te RANE Ba Geen 4,400,000 4,400,000
17,612,045 20,391,852
Increase in working capital during year ................... 2,584,119 292,003
Working capital (deficiency) beginning of year .............. (1,038,197) (1,330,200)
Working capital (deficiency) end of year .................. $ 1,545,922 $(1,038,197)

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