(All tabular amounts stated in thousands of United States dollars unless otherwise indicated) The balance sheet of Asquith Resources Inc. immediately prior to completion of the RTO Transaction was as follows: (Stated in thousands of Canadian dollars) The statement of operations and deficit of Asquith Resources Inc. for the period January 1, 2001 to November 20, 2001 (i.e. immediately prior to completion of the RTO Transaction) was as follows: (Stated in thousands of Canadian dollars) 8. Financial Statements Prior to Completion of RTO Transaction Balance Sheet Statement of Operations and Deficit As at November 20, 2001 Period ended November 20, 2001 Assets Current assets Cash and short term investments 6 Prepaid expenses and sundry debtors 22 Deferred acquisition costs 534 562 Exploration and development costs 3,137 3,699 Liabilities and shareholders’ equity Current liabilities Accounts payable and accrued liabilities 457 Advance from joint venture partner 103 Due to related parties 64 624 Shareholders’ equity Share capital and contributed surplus 8,971 Deficit (5,896) 3,699 Revenue – Expenses Administration 188 Write-down of exploration and development costs 3 Gain on foreign exchange (2) 189 Other income Interest income – Net loss for the period 189 Deficit, beginning of period 5,707 Deficit, end of period 5,896 21 Notes to the Consolidated Financial Statements