Read Report - Nuinsco Resources Limited
Read Report - Nuinsco Resources Limited
Read Report - Nuinsco Resources Limited
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22<br />
2005 ANNUAL REPORT<br />
consolidated balance sheets<br />
As at December 31, (in thousands of Canadian dollars) 2005 2004<br />
ASSETS<br />
Current<br />
Cash and cash equivalents $ 578 $ 380<br />
Cash for exploration expenditures (note 7) 2,072 618<br />
Marketable securities (market value $1,543) 316 –<br />
Accounts receivable 46 41<br />
Current portion of long-term receivable (note 3) 1,000 1,000<br />
Prepaid expenses 29 24<br />
Total current assets 4,041 2,063<br />
Long-Term Receivable (note 3) – 1,000<br />
Exploration and Development Projects (note 4) 5,076 7,124<br />
Buildings and Equipment (note 5) 41 50<br />
$ 9,158 $ 10,237<br />
LIABILITIES<br />
Current<br />
Accounts payable and accrued liabilities $ 714 $ 583<br />
Convertible Notes (note 6) 200 200<br />
914 783<br />
SHAREHOLDERS’ EQUITY (note 7)<br />
Share capital 62,768 59,832<br />
Stock option compensation 1,177 926<br />
Share purchase warrants 406 81<br />
Contributed surplus 1,049 761<br />
Deficit (57,156) (52,146)<br />
Net shareholders’ equity 8,244 9,454<br />
$ 9,158 $ 10,237<br />
GOING CONCERN (note 1(b))<br />
Approved by the Board of Directors<br />
W. Warren Holmes Director René R. Galipeau Director<br />
See Notes to Financial Statements<br />
FINANCIAL STATEMENTS
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