Consolidated Statement

of Changes in Financial Position
for the years ended December 31, 1976 and 1975

Source of working capital:
Operations —
NetuimConmestormtinenvealan nt emmiaasr ets ee te nse caretrcer occurs 2/2 a wertecene
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
Deferred taxes

Working capital provided by operations
Term bank loan

Application of working capital:
Plant and equipment —

Cassiar mine
Clinton mine

Transport Division

Vancouver .
Whitehorse

Cassiar mine
Clinton mine

Waste removal costs —

Employees’ home purchase agreements

Exploration, development, mining claims and land
Reduction in term bank loan

Increase in working capital during year
Working capital (deficiency) at beginning of year

Working capital at end of year

1976 1975
$11,839,556 $ 8,289,836
11,864,337 12,159,074
932,334 969,660
199,849 199,848
6,097,270 5,056,745
113,003 215,676
3,364,000 3,817,000
34,410,349 30,707,839
= 5,000,000
34,410,349 35,707,839
10,854,489 8,500,559
135,373 296,067
135,886 31,315
83,556 96,487
(338,344) 156,650
19,270,536 16,482,253
897,080 3,328,129
726,535 91,512
31,765,111 28,982,972
247,821 165,769
2:000,000)- a
34,012,932 29,148,741
397,417 6,559,098
4,551,888 (2,007,210)
$ 4,949,305 $ 4,551,888

Nee eee eee 00

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