2002 2003 2004

Funds for Construction 5,080 2,000 500

Estimated Cash Available

from Internal Sources 500 700 900

Additional Funds from

External Sources 4,580 1,300 0

Cal-Ore's cash requirements forecast indicates that internally generated funds will provide approximately $2,100,000 or 27.7% of its total cash requirements of $7,580,000 for years 2002 through 2004. The requested $6.7 million debt is necessary to help Cal-Ore meet majority of its forecasted cash requirements.