Cassiar Asbestos Corporation Limited

and its subsidiaries

CONSOLIDATED STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1974
(with comparative figures for the year ended December 31, 1973)

PAGE FIFTEEN

1974 1973
: (restated)
Source of funds:
Operations —
ING tap rotitey (LOSS) eee ere ee ee ee $ (2,145,780) $ 2,868,474
WiastesremOvalecosts) amortized == 4 ee 10,887,603 7,461,405
Development and preproduction costs amortized 1,056,582 897,938
Explorationycostsnwiltteniorh aan = 5s ee 962,376 247,612
IDEPTECAb OM ae ee am eee: 9,706,587 4,768,177
maxesedefercedije ee (540,000) 1,435,000
19,927,368 17,678,606
Application of funds:
Plant and equipment —
@assiareMine mater ae eee ee are 8,932,179 2,922,490
Clinton Mine ........ ie | en ne ates ee 645,574 578,376
IGM oO IDIOM . sca coccensusccoesqncsecuveds (24,333) B24
SVATIC OU Tes soar eee ce ee eet ene aE Se: 165,144 14,242
Wihitehorse sree tte pies terete aa eee ae 325,307 20,371
Waste removal costs —
G@assiaieeMille meen ere es a 5,955,412 4,365,630
Glintons Mines et es ee eee ae 5,431,123 4,873,274
Employees’ home purchase agreements . 133,449 26,742
21,563,855 12,833,856
Exploration, development, mining claims and land .. 566,313 815,795
URE NAYS Clr NCHS 5 ce blon bo oes cone eases e soe. 10,100
Current portion of term bank loan 1,000,000 1,000,000
Dividend steerer ty tct eee ee cin ee NN Ee ee ee 825,000 3,300,000
23,955,168 17,959,751
Decrease in working capital during years 4,027,800 281,145
Working capital beginning of year 2,020,590 2,301,735
Working capital (deficiency) end of year $ (2,007,210) $ 2,020,590