Campbell Resources Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2007	FY 2006	FY 2005	FY 2004	FY 2003
Period Ending	Sep '08 Sep 30, 2008	Dec '07 Dec 31, 2007	Dec '06 Dec 31, 2006	Dec '05 Dec 31, 2005	Dec '04 Dec 31, 2004	Dec '03 Dec 31, 2003
Cash & Equivalents	0.47	0.47	1.96	1.77	1.19	4.75
Short-Term Investments	0.03	-	-	-	0.1	0.54
Trading Asset Securities	-	0.03	0.79	0.13	-	-
Cash & Short-Term Investments	0.5	0.51	2.76	1.9	1.29	5.29
Cash Growth	-47.08%	-81.60%	45.28%	46.71%	-75.55%	41.13%
Accounts Receivable	1.56	3.07	1.59	1.65	2.82	2.13
Other Receivables	2.18	0.74	5.41	8.37	3.13	2.13
Receivables	3.74	3.81	7	10.03	5.95	4.84
Inventory	8.11	4.1	4.25	3.4	4.57	4.7
Prepaid Expenses	0.23	0.41	1.19	0.88	0.22	0.64
Restricted Cash	2.03	1.11	2.78	-	0.35	0.23
Other Current Assets	-	-	50	-	-	-
Total Current Assets	14.6	9.93	67.98	16.2	12.39	15.7
Property, Plant & Equipment	30.38	45.02	37.14	59.96	79.38	59.67
Long-Term Deferred Tax Assets	1.34	1.32	1.48	1.32	1.9	1.52
Long-Term Deferred Charges	-	-	0.13	0.18	2.43	2.19
Other Long-Term Assets	9.45	9.08	8.41	56.98	55.52	54.55
Total Assets	55.77	65.35	115.14	134.64	177.76	159.77
Accounts Payable	20.03	15.41	13.97	13.56	11.15	4.83
Accrued Expenses	9.83	5.95	5.48	3.7	3.67	3.3
Short-Term Debt	7.19	2	3.89	6.61	2.69	-
Current Portion of Long-Term Debt	23.15	18.34	65.29	18.04	2.69	0.49
Current Unearned Revenue	7.67	0.97	-	-	-	-
Total Current Liabilities	67.87	42.66	88.63	41.9	20.2	8.62
Long-Term Debt	0.12	2.69	0.07	49.75	52.36	48.42
Long-Term Deferred Tax Liabilities	6.66	6.47	6.64	4.76	4.07	2.22
Other Long-Term Liabilities	7.72	7.4	7.8	7.74	35.1	37.8
Total Liabilities	82.37	59.22	103.14	104.14	111.72	97.05
Common Stock	98.81	96.64	85.57	69.96	69.61	55.43
Additional Paid-In Capital	6.42	4.11	2	1.4	1.1	1.08
Retained Earnings	-140.09	-104.04	-84.83	-43.63	-19.2	-11.01
Comprehensive Income & Other	8.26	9.42	9.26	2.77	3.07	0.3
Total Common Equity	-26.6	6.13	12.01	30.5	54.59	45.8
Minority Interest	-	-	-	-	11.45	16.92
Shareholders' Equity	-26.6	6.13	12.01	30.5	66.03	62.72
Total Liabilities & Equity	55.77	65.35	115.14	134.64	177.76	159.77
Total Debt	30.46	23.02	69.25	74.39	57.74	48.91
Net Cash (Debt)	-29.96	-22.51	-66.49	-72.49	-56.45	-43.62
Net Cash Per Share	-0.07	-0.06	-0.44	-0.67	-0.59	-0.79
Filing Date Shares Outstanding	468.71	432.4	346.53	108.22	107.25	97.84
Total Common Shares Outstanding	468.71	432.6	346.53	108.21	107.24	86.76
Working Capital	-53.28	-32.73	-20.64	-25.7	-7.81	7.08
Book Value Per Share	-0.06	0.01	0.03	0.28	0.51	0.53
Tangible Book Value	-26.6	6.13	12.01	30.5	54.59	45.8
Tangible Book Value Per Share	-0.06	0.01	0.03	0.28	0.51	0.53
Land	0.98	0.98	0.73	155.39	170.29	150.52
Machinery	40.27	40.1	47.32	45.62	45.47	39.03

Source: S&P Global Market Intelligence. Standard template. Financial Sources.