CSN 73 4108 PDF

Material Effects of Government Regulations. These financial statements were prepared in accordance with generally accepted accounting principles in Canada and are expressed in Canadian dollars. It was placed on care and maintenance in when its reserves were depleted after a shaft deepening and underground exploration program yielded marginally economic results. It produced approximately 4.

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Mesho Station details The Company conducts its operations in such a way as to czn its employees, the general public and the environment and, to cwn best of its knowledge, it believes its operations are, in all material respects, in compliance with all applicable laws and regulations.

The Company should be able to maintain increased cssn in the coming months. Short tons produced in andfrom Joe Mann Mine only. The gabbro sills which are moderately magnetic are traceable over widths of to feet and for at least thirty miles along strike. Holder generally would not be stepped up to fair market value csb death.

Inthe Company completed three equity financings which provided funds to continue development of both the Joe Mann and Copper Rand mines. To the extent that distributions exceed current or accumulated earnings and profits of the Company, they will be treated first as a return of capital up to the U.

Preussag Canada continued work on the Zone Ouest and Main Zone between and by drilling and conducting geophysical surveys. In addition, this discussion does not consider the potential effects, both adverse and beneficial of recently proposed legislation which, if enacted, could be applied, possibly on a retroactive basis, at any time. Site preparation was initiated at the end of April with the pumping of water of the pit and the upgrading of access road. The Copper Rand Project as finally approved included: Initial difficulties in the start-up of the Copper Rand mine and a shortage of capital have combined to create a situation where the operations could not generate enough cash to allow the Company to carry on without a financial restructuring under the CCAA.

Gain or loss, if any, fsn on the disposition of the Canadian dollars generally will be United States source ordinary income or loss. Tailings and Waste Disposal. Development was delayed in the fourth quarter as procedures were required to control a significant amount of water. Accordingly, we express no such opinion. The supply and demand for copper and gold, the level of interest rates, the rate in inflation, and changes in exchange rates can all cause significant fluctuations in copper and gold prices.

The Company recognizes a liability for the legal obligations associated with the retirement of long-lived assets that results from the acquisition, construction, development or normal use of the assets. Sc in Mining Engineering in Those prepayments are offset when the ownership of the product is transferred to Ocean Partners and the revenues are recognized.

During the second half ofthe Company has initiated additional development in order to diversify the source of ore coming from the mine. In the second half ofoutput reached 82, tons, compared to 76, tons for all of and 46, tons in the first half of Large amounts of capital are frequently required to purchase necessary equipment.

Acreage is referred to as acres, which represents 0. The forward-looking statements are made as of the date of this Report, and Campbell Resources Inc.

If the Company does not develop additional mineral reserves, it may not be able to sustain future operations. The charge against certain pieces of machinery and equipment will be released when the final tax assessment is issued. In the mine area, the rocks consist predominantly of mafic lavas intruded by gabbro sills and feldspar porphyry dykes. Briefly describe what measures the board takes to orient new directors regarding.

It was placed on care and maintenance in when its reserves were depleted after a shaft deepening and underground exploration program yielded marginally economic results. The implementation of this Section did not have a material impact on the consolidated financial statements. The Share Purchase Plan is designed to encourage employees of the Company to purchase common shares on a regular basis. Distributions of Common Shares. Disclosure whether or not the chair of the board is an independent director.

Prior tothe Copper Rand Mine was in pre-production and the net metal sales were applied against capitalized development costs. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with Canadian generally accepted accounting principles.

Subsequently, financial instruments classified as financial assets available for sale, held for trading and derivative financial instruments, part of a hedging relationship or not, have to be measured at fair value on the balance sheet at each reporting date, whereas other financial instruments are measured at amortized cost using the effective interest rate method.

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Zusida The geology of the two properties consist of volcanic rocks to the north and sedimentary and volcanics to the south. The Joe Mann Mine has been in production until September 11,when the Company stopped the mining operations, since results from deep drilling programs were unsatisfactory to the Company. Any shareholder may inspect any of the documents or Exhibits referred to in this Report or any other disclosure by making a request to the Company in writing. The charge against certain pieces of machinery and equipment will be released when the final tax assessment is issued. Common shares of the Company will not generally constitute taxable Canadian property. The gabbro sills which are moderately magnetic are traceable over widths of to feet and for at least thirty miles along strike.

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