Cash Statement
Consolidated Statements of Changes
in Cash Resources
(Unaudited)
(In Thousands)
| |
|
|
Three Months Ended |
| |
|
|
March 31/98 |
|
March 31/97 |
|
| Operating activities |
|
|
|
|
|
|
| |
Net earnings |
|
$17,804 |
|
|
$14,410 |
|
| |
Depreciation, depletion and reclamation |
|
25,684 |
|
|
19,852 |
|
| |
Deferred tax |
|
8,028 |
|
|
11,919 |
|
| |
Increase in non-cash working capital |
|
(29,794 |
) |
|
(49,889 |
) |
|
| Cash provided by (used in) operations |
|
21,722 |
|
|
(3,708 |
) |
|
| Investing activities |
|
|
|
|
|
|
| |
Additions to property, plant and equipment |
|
(25,251 |
) |
|
(21,573 |
) |
| |
Additions to long-term receivables and investments |
|
8,382 |
|
|
(29,630 |
) |
| |
Acquisition of net business assets |
|
- |
|
|
(143,750 |
) |
| |
Proceeds on sale of property, plant and equipment |
|
32 |
|
|
- |
|
| |
Increase in non-cash working capital |
|
(3,873 |
) |
|
- |
|
|
| Cash used in investing |
|
(20,710 |
) |
|
(194,953 |
) |
|
| Financing activities |
|
|
|
|
|
|
| |
Increase in debt |
|
140,940 |
|
|
197,287 |
|
| |
Repayment of debt |
|
(143,650 |
) |
|
- |
|
| |
Issue of shares |
|
1,111 |
|
|
1,096 |
|
| |
Dividends |
|
(7,182 |
) |
|
(6,647 |
) |
|
| Cash provided by (used in) financing |
|
(8,781 |
) |
|
191,736 |
|
|
| |
Increase (decrease) in cash during the period |
|
(7,769 |
) |
|
(6,925 |
) |
| |
Cash at beginning of period |
|
109,722 |
|
|
14,603 |
|
|
| Cash at end of period |
|
$101,953 |
|
|
$7,678 |
|
|
