SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
SEC File No. 0-26447
Report of Foreign Private Issuer Pursuant to Rules 13a-16 and 15d-16
under the Securities Exchange Act of 1934
For the three month period ended June 30, 2001.
LEADER MINING INTERNATIONAL, INC.
---------------------------------
(Translation of registrant's name into English)
400 - Fifth Avenue, SW., Suite #810, Calgary, Alberta T2P 0L6
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes X No _______
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b); 82-2467
LEADER MINING INTERNATIONAL INC.
INTERIM FINANCIAL STATEMENTS
THREE MONTHS ENDED JUNE 30, 2001
BALANCE SHEET ( Unaudited )
As at June 30, 2001
(expressed in Canadian dollars)
As at As at
ASSETS June 30, 2001 March 31, 2001
------ -------------- ---------------
CURRENT ASSETS
Cash and Short -Term Deposits $ 29,171 $ 303,216
Accounts Receivable 30,429 58,991
Shares Subscription Receivable 500,000 0
Deposits and Prepaid Expense 138,761 114,717
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698,361 476,924
CAPITAL ASSETS 19,245 19,245
MINERAL PROPERTIES AND DEFERRED EXPLORATION COSTS 7,909,238 7,862,416
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$ 8,626,844 $ 8,358,585
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LIABILITIES
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CURRENT LIABILITIES
Accounts Payable and Accrued Liabilities $ 99,286 $ 196,437
DUE TO RELATED PARTIES 161,090 177,089
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$ 260,376 $ 373,526
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SHAREHOLDERS' EQUITY
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CAPITAL STOCK $ 22,414,840 $ 21,914,840
DEFICIT (14,048,372) (13,929,781)
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8,366,468 7,985,059
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$ 8,626,844 $ 8,358,585
============== ===============
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STATEMENT OF CASH FLOWS ( Unaudited )
Three Months ended June 30, 2001
(expressed in Canadian dollars)
2001 2000
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OPERATING ACTIVITIES
Net loss for the period $ (118,592) $ (92,561)
Change in non-cash working capital balances
Accounts Receivable 28,562 0
Deposits and Prepaid Expenses (24,043) (145,182)
Accounts Payable and Accrued Liabilities (97,149) (3,958)
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(211,222) (241,702)
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FINANCING
Issuance of Common Shares 0 3,500
Advances from Shareholders and Directors 0 257,142
Repayments to Shareholders and Directors (16,000) 0
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(16,000) 260,642
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INVESTING
Mineral Properties and Deferred Exploration Expenditures (46,822) 0
Purchase of Capital Assets 0 (680)
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(46,822) (680)
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INCREASE (DECREASE) IN CASH (274,045) 18,260
CASH AND SHORT-TERM DEPOSITS, BEGINNING OF PERIOD 303,216 211,124
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CASH AND SHORT-TERM DEPOSITS, END OF PERIOD $ 29,171 $ 229,384
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CASH & SHORT-TERM DEPOSITS ARE COMPRISED OF:
Cash $ 29,171 $ 11,964
Short-term deposits 0 217,420
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$ 29,171 $ 229,384
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STATEMENT OF LOSS AND DEFICIT ( Unaudited )
Three months ended June 30, 2001
(expressed in Canadian dollars)
2001 2000
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REVENUE
Management Fees $ 0 $ 15,858
Equipment Rental Income 0 10,800
Interest 220 3,196
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Total Revenue 220 29,854
EXPENSES
Exploration Expenditures 0 8,087
Amortization (1,177) 0
General & Administrative Expense 119,990 114,328
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Total Expense 118,813 122,415
NET LOSS FOR THE PERIOD 118,592 (92,561)
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DEFICIT, BEGINNING OF PERIOD (13,929,780) (12,744,512)
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DEFICIT, END OF PERIOD $(13,811,187) $(12,837,073)
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LOSS PER SHARE ( NOTE 2 ) $0.01 $0.01
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LEADER MINING INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS
THREE MONTHS ENDED JUNE 30, 2001
1. BASIS OF PRESENTATION
These financial statements have been prepared in accordance with
generally accepted accounting principles following the same accounting
policies and methods of computation as the financial statements for the
fiscal year ended March 31, 2001 and should be read in conjunction with
the March 31, 2001 annual financial statements.
2. LOSS PER SHARE
Effective January 1, 2001, a new accounting standard related to
calculation and disclosure of earnings per share was established. All
earnings per share information and disclosures presented in these
interim financial statements conform to this new standard. Adoption of
the new standard had no effect on previously reported per share
amounts.
Per share information is calculated on the basis of the weighted
average number of common shares outstanding during the period.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Leader Mining International, Inc.
October 23, 2001 by:/s/Jasi Nikhanj
Jasi Nikhanj, President
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