Notes to the Consolidated Financial Statements (All tabular amounts stated in thousands of United States dollars unless otherwise indicated) Exploration and development costs Use of estimates Comparative figures Net income (loss) per share Other also includes costs which have yet to be assigned to specific projects. The costs relating to the acquisition, exploration and development of mineral properties, less recoveries, are  capitalized by property until the commencement of commercial production. If commercially profitable ore reserves are developed, capitalized costs of the related project are reclassified as mining assets and amortized on a unit of production method. If it is determined that capitalized acquisition, exploration and development costs are not  recoverable over the estimated life of the property, or the project is sold or abandoned, the project is written down to its net realizable value. The recoverability of amounts recorded for exploration and development costs is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete the exploration and development, and future profitable production or proceeds from the disposition thereof. The amounts shown as exploration and development costs do not necessarily represent present or future values. The preparation of financial statements in conformity with generally accepted accounting principles requires manage- ment to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Accordingly, actual results could differ from those estimates. Certain of the comparative figures have been reclassified to conform with the current period’s presentation. Net income (loss) per share has been calculated based on the weighted average number of common shares outstanding during the period. 3. Exploration and Development Costs Included in exploration and development costs are expenditures made by the Company on exploration properties which have been capitalized as follows: Country (project) 2001 2000 Central African Republic Bambari 3,839 3,510 Other 18 13 Mali Kofi 1,576 1,392 Satifara 11 11 Other 573 400 Ghana Cape Three Points 311 155 Other 115 74 Senegal Sonkounkou 371 251 Other 23 23 Tanzania Siga Hills 332 214 Magamba 31 30 Other 72 59 Canada B-B Lake 137 137 Tully Township – – Diana – – Other 36 135 7,445 6,404 16