SUMMARY OF CONSOLIDATED OPERATIONS For the Year Ended December 31, 1975

(with comparative figures for the year ended December 31, 1974)

1975

Clinton Cassiar Subsidiary
Mine Mine company

Revenue:
Asbestos fibre sales $79,491,557 $38,591,145 $40,900,412
Other sales 3,028,730 $ 3,028,730

82,520,287 38,591,145 40,900,412 3,028,730

Expenses:
Cost of sales 46,475,686 17,890,984 26,244,760 2,339,942
Transportation to Vancouver and warehousing 11,983,151 7,410,464 4,572,687
Administration, interest, selling and general 5,986,369 2,731,548 2,586,964 667,857
Exploration 287,245 199,800 87,445

64,732,451 28,232,796 33,491,856 3,007,799

Income (loss) before income taxes $17,787,836 $10,358,349 $ 7,408,556 20,931