16

Consolidated Statement of Cash Flow
FOR THE YEAR ENDED DECEMBER 31
($ in thousands)

OPERATIONS
Earnings from operations before depreciation
Income and mining taxes (Note 6)
Insurance recoveries
Discontinued operations
Other
Items not affecting cash
Decrease (increase) in working capital other than cash
and preferred shares of subsidiary

CASH FLOW FROM OPERATIONS

FINANCING ACTIVITIES
Common shares issued
Dividends on preferred shares of subsidiary
Preferred shares of subsidiary redeemed

INVESTING ACTIVITIES
Expenditure on asbestos properties:
McDame exploration
Fixed assets
Expenditure on gold property
Other

INCREASE (DECREASE) IN CASH
CASH AND SHORT-TERM INVESTMENTS —
beginning of year

CASH AND SHORT-TERM INVESTMENTS —
end of year

1987 1986
$12,977 $ 8,315
(1,854) (424)
ps 2,042
at (101)
eet 297
205 517
(895) 1,943
10,433 12,589
2,805 4,325
(2,144) (2,927)
(13,235) (1,764)
(12,574) (366)
(2,605) (4,589)
(389) (1,005)
(211) ==
(252) 254
(3,457) (5,340)
(5,598) 6,883
7,456 573
$ 1,858 $ 7,456