Consolidated balance sheet
| June 30, 2007 $ |
December 31, 2006 $ (Audited) |
|
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 5,625,618 | 17,022,285 |
| Accounts receivable | 1,009,530 | 672,879 |
| Prepaids and other deposits | 2,690,168 | 2,713,994 |
| Inventory (note 3) | 5,683,164 | 177,055 |
| 15,008,480 | 20,586,213 | |
| Restricted cash (note 2) | 178,719 | 194,412 |
| Property, plant and equipment (note 4) | 119,175,091 | 118,323,038 |
| 134,362,290 | 139,103,663 | |
| Liabilities | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | 5,837,117 | 5,305,085 |
| Asset retirement obligation (note 5) | 155,726 | 156,255 |
| Future income taxes | 720,859 | 358,848 |
| Convertible debentures (note 6) | 18,011,307 | 18,683,004 |
| 24,725,009 | 24,503,192 | |
| Shareholders’ Equity | ||
| Share capital (note 7) | 121,470,892 | 121,470,892 |
| Warrants to purchase common shares (note 7) | 946,508 | 946,508 |
| Contributed surplus (note 9) | 14,503,989 | 12,030,272 |
| Deficit | (27,284,108) | (19,847,201) |
| 109,637,281 | 114,600,471 | |
| 134,362,290 | 139,103,663 |
