CASSIAR ASBESTOS CORPORATION LIMITED

(Incorporated under the laws of Canada)

Balance Sheet —lecember 31, 1962

ASSETS
Current:
Cash $ 796,988
Short term investments at cost (market value $350,676) 348,888
Accounts receivable 890,951
Asbestos fibre at cost 2,603,881 $ 4,640,708
Ore stockpiled at mill at cost $ 513,280
Inventory of supplies — valued at laid-down cost 1,110,016
Prepaid expenses 92,626 1,715,922
$ 6,356,630
Investment in Territorial Supply Company Limited:
Shares (one-half the issued capital) at cost $ 25,000
Notes receivable 250,000 275,000
Fixed and deferred:
Operating mine —
Plant and equipment at cost $11,153,089
Automotive equipment at cost 2,294,517
Roads at cost 158,664
$13,606,270
Less accumulated depreciation 6,090,216
$ 7,516,054
Mining claims and properties — acquired for
issue of 925,000 shares and the payment
of $160,569 253,069 $ 7,769,123
Preproduction expenditures less amounts
written-off , $ 152,073
Stripping costs less amounts written-off 4,981,372 5,133,445
$12,902,568
Other —
Mining claims at cost and expenditures
thereon ; : .. §$ 1,982,944
Investment in subsidiary company (note) —
Kutcho Creek Asbestos Company
Limited:
750,005 shares at cost of $128,305
and advances of $7,187 135,492 2,118,436 15,021,004
$21,652,634

Pace Six

LIABILITIES

Current:
Accounts payable and accrued charges $ 556,853
Dividend payable January 25, 1963 594,000
Taxes payable 693,189
Accumulated tax reductions applicable to future years
Capital and surplus:
Capital —
Authorized: 4,000,000 shares without nominal or par value u
Issued: 3,960,000 shares $8,468,745
Earned surplus

8,274,847

On behalf of the Board:

F. M. CONNELL, Director.
C. R. ELLIOTT, Director.

See accompanying note.

Pace SrveN

$ 1,844,042

3,065,000

16,743,592

$21,652,634