5 Year Financial Data

5 Year Financial Data


(expressed in thousands of Canadian dollars except per share amounts)
			1996		1995		1994		1993		1992

Earnings
Revenues			$ 590,861		$ 395,271		$ 347,685		$ 305,846		$ 304,904

Expenses
	Products and services sold		298,205		190,210		175,040		146,700		140,205
	Depreciation, depletion and reclamation		94,974		67,481		57,517		58,032		58,631
	Administration/research & development		26,589		21,246		17,847		12,945		15,884
	Exploration		29,223		16,991		11,890		9,753		11,581
	Interest		(3,396)		(4,412)		823		2,267		9,046

			445,595		291,516		263,117		229,697		235,347

Earnings from operations			145,266		103,755		84,568		76,149		69,557
	Other income (expense)		(2,422)		1,858		(,327)		25		(58,535)


Earnings before income taxes
	and minority interest		142,844		105,613		84,241		76,174		11,022
	Income taxes		5,311		3,528		3,083		2,833		2,788
	Minority interest		-		-		14		305		264

Net earnings			$ 137,533		$ 102,085		$ 81,144		$ 73,036		$ 7,970
Retained earnings at beginning of year			329,131		253,261		198,154		151,127		169,135
Dividends			(26,458)		(26,215)		(26,037)		(26,009)		(25,978)

Retained earnings at end of year			$ 440,206		$ 329,131		$ 253,261		$ 198,154		$ 151,127



Financial Position
Current assets			$ 355,134		$ 345,801		$ 229,866		$ 247,206		$ 264,731
Current liabilities			84,022		97,369		63,818		48,882		38,779

Working capital			271,112		248,432		166,048		198,324		225,952
Non-current assets			1,423,448		1,321,549		1,196,896		1,103,666		1,111,752


Capital employed			$ 1,694,560		$ 1,569,981		$ 1,362,944		$ 1,301,990		$ 1,337,704


Long-term debt			$ 200,018		$ 196,462		$ 61,568		$ 74,927		$ 170,008
Provision for reclamation			64,171		57,338		52,092		48,198		45,774
Other liabilities			10,699		14,524		28,912		9,993		(417)
Minority interest			-		-		-		5,825		5,833
Shareholders' equity			1,419,672		1,301,657		1,220,372		1,163,047		1,116,506


Total financing of capital			$ 1,694,560		$ 1,569,981		$ 1,362,944		$ 1,301,990		$ 1,337,704

Long-term debt (% of capital employed)			11.8%		12.5%		4.5%		5.8%		12.7%
Current ratio			4.2:1		3.6:1		3.6:1		5.1:1		6.8:1
Debt/equity ratio			.14:1		.15:1		.05:1		.06:1		.15:1



Cash Flows
Cash from operations			$ 175,702		$ 133,180		$ 176,079		$ 127,067		$ 131,398
Cash applied to investing activities			(162,053)		(252,482)		(106,467)		(63,012)		(74,358)
Cash provided by (applied to) financing			(13,688)		113,484		(42,321)		(115,894)		(11,128)

Increase (decrease) in cash during the year			(39)		(5,818)		27,291		(51,839)		45,912
Cash at beginning of year			14,642		20,460		(6,831)		45,008		(904)

Cash at end of year			$ 14,603		$ 14,642		$ 20,460		$ (6,831)		$ 45,008



Per Common Share
Earnings from operations			$ 2.75		$ 1.98		$ 1.63		$ 1.47		$ 1.34
Net earnings			2.60		1.95		1.56		1.41		0.15
Cash from operations			3.33		2.54		3.38		2.45		2.53
Dividends paid			0.50		0.50		0.50		0.50		0.50
Weighted average number of paid common share		52,833,746		52,359,946		52,034,234		51,942,990		51,936,072



Shareholders' Data
Number of common shares outstanding		53,175,458		52,652,945		52,261,847		52,046,948		51,980,698
Market price (TSE)
	- high		76.25		51.75		31.13		28.50		18.25
	- low		50.38		29.50		21.75		17.00		16.63
	- close		54.90		50.75		31.13		28.50		17.50



Production Data
Uranium concentrates (lbs U₃O₈)		16,560,000		15,160,000		13,991,000		13,221,000		13,579,000
Uranium conversion (tU)			10,127		10,552		9,490		7,853		5,481
Gold (troy oz)			40,375		31,623		-		-		6
Average uranium spot price for the year ($US/lb U₃O₈)			$ 15.54		$ 11.46		$ 9.31		$ 9.98		$ 8.53
Employees at year end			1,350		1,237		1,191		1,133		1,078