Consolidated Statement of Changes in Financial Position

for

Source of working capital:
Operations —

Net income for the year .............

Add items not involving a current
flow of working capital:
Waste removal costs amortized ..
Development and preproduction

costs amortized

Exploration costs written off .....
Depreciation
Loss on disposal of fixed assets ..
DeferneditaxeSiaa seer

Working capital provided
by operations...........

Application of working capital:

Plant and equipment —
CASSET IMG: sae ese este ok eaneeees
Glintommmine twee tre ae ee
iranSpontsDiwisionee.- sos. se
NETAYCOUWN AE Ratisceniniiacn ante neat aa nin ern mre
WNNNSINONSS “se veke enc dowenoses ones

Waste removal costs —
(CRISSEIC Innere eros os cme sees ee
Clintonsmine =vss-cene ees cee te

Employees’ home purchase agreements ..

INVESTMENTS pute ey eee
Exploration, development, mining
claimsrandilandss.
Reduction in term bank loan .........
BY Wile inte ieee Sha 5 Saas eas eo neon

Increase in working capital during year ........
Working capital at beginning of year

Working capital at end of year ................

the year ended Decen

GU

1977

$19,565,945

18,745,169

6,355,747
136,505
2,563,000

48,511,405

12,867,031
311,272
131,752

57,478
(248,550)

15,358,965
1,447,771
1,109,695

31,035,414

25,812

647,141
5,000,000
3,025,000

39,733,367

8,778,038
4,949,305

$13,727,343

Iber 31, 19

1976

$11,839,556

11,864,337

932,334
199,849
6,097,270
113,003
3,364,000

34,410,349

10,854,489
135;373
135,886

83,556
(338,344)

19,270,536
897,080

726,535

31,765,111

247,821
2,000,000

34,012,932
397,417
4,551,888

$ 4,949,305