Fa on pen

RAL RESOURCE PROPERTIES
OPERATING)

al and financial reviews are
ect of a property contiguous
ody in British Columbia.

eldwood of Canada Limited
o th feasibility of developing
couver Island in British
al and Provincial

vels of the San Antonio
tinued on May 27, 1983.
program to test the

» mine indicated continuity of
pth and an agreement
well Resources Ltd.,
arn up to a 50%

ine by performing
lopment work up to

ar period.

1983 1982
Accumulated
depletion and

Cost depreciation Net Net

(in thousands)

$109,349 $ 61,635 $ 47,714 $ 55,196
72,372 13,141 59,231 61,612
a = = 404
$181,721 $ 74,776 106,945 117,212
rrr
42,327 39,018

$ 5,960 $ = 5,960 5,792
3,404 3,404 2,006
7,829 ae ~ 7,829 8,102

$ 17,193 $ a 17,193 15,900
$166,465 $172,130

5: Long-Term Investments
m 1983 1982

(in thousands)
Brinco 1981 Energy

Program $ 568 $2,000
Other 374 307
$ 942 $2,307

Long-term investments are acquisition costs of
interests in oil and gas ventures written down to
amounts expected to be recovered from future
operations of the properties.

4. Bank Indebtedness

LONG-TERM DEBT

Brinco Mining Limited has a term loan in the
amount of $70,000,000 payable to a Canadian
chartered bank. The loan bears interest at
spreads over. various money market rates quoted

_ from time to time for bankers acceptances,

rime Canadian or U.S. dollar loans, and
L.I.B.O.R. loans. This loan and current bank
indebtedness, to the extent of $10,000,000, is
secured by a first fixed and floating charge on
the assets of the Cassiar Asbestos Division of
Brinco Mining Limited and an assignment of the
accounts receivable of Brinco Mining Limited
which at December 31, 1983 totalled
$20,078,000.