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MONTAGU MINING INVESTMENTS INC. <br />CONSOLIDATED STATEMENT OF CHANGES IN FINANCIAL POSITION <br />for the period from April 30, 1986 (inceptions to December 3l, 1986 <br />Uses of working capital <br />Net loss from operations .................................................... $ 229,169 <br />Depletion notrequiring working caps[al ........................................ (29,881) <br />Working capital used in operations ............................................ 199,288 <br />Additions to mineral properties ............................................... 2,401,350 <br />2.600.638 <br />Working capital provided by issuance of common stock ............................... 10 <br />Decrease in working capital .................................................. 2,600,628 <br />Working capital deficit, December 31, 1986 ........................................ $2,600,628 <br />Changes in components of working capital: <br />Increase in current assets: <br />Cash ................................................................ $ 91,012 <br />oven[ory ............................................................. 222,113 <br />Deposits .............................................................. 20,224 <br />333.349 <br />Increase in current liabilities <br />Accounts payable and accrued liabilities .................................... 201,831 <br />Due to parent ......................................................... 2.732,146 <br />2,933,977 <br />Decrease in working capital .................................................. $2,600,628 <br />The accompan}~ing notes are arr integral part of these consolidated financial smtenrerris. <br />C-4 <br />