REDCASTLE RESOURCES LIMITED — Interim / Quarterly Report 2002

Mar 18, 2003

Great Pacific Capital Limited Group Consolidated balance sheet as at 31 December 2002

	Consolidated	ConsolidatedProforma
Assets
Cash and liquid assets	6,096,069	6,754,301
Receivables	12,577,975	12,577,975
Loans	21,371,916	21,371,916
Deferred tax assets	1,095,018	1,095,018
Investment securities	Ω	0
Other assets	122,757	122,757
Property, plant and equipment	985,411	985,411
Intangible assets	566,666	566,666
Total assets	42,815,812	43,474,043
Liabilities
Payables	4,270,659	3,082,159
Current tax liabilities	225,979	225,979
Provisions	17,333	17,333
Borrowings	29,983,838	29,983,838
Deferred tax liabilities	2,451,054	2,451,054
Total liabilities	36,948,863	35,760,363
Net Assets	5,866,949	7,713,680
Equity
Capital	2,850,000	4,696,732
Retained earnings	3,016,951	3,016,951
Total equity	5,866,951	7,713,682

Note:

• 1. As at 31 December 2002, share subscription of $1,188,000 have already been included in the cash and payables. Cost of capital raising of $101,461are also included in the retained earnings as at 31 December 2002.
• 1. Total share subscription of $1,885,500 less additional cost of capital raising of $38,769 were included in the proforma balance sheet.

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