Westgold Resources Limited Annual Report 2020

55 Westgold Resources Limited Annual Report 2020 for the year ended 30 June 2020 Financial Report Consolidated Statement of Cash Flows Notes 2020 2019 OPERATING ACTIVITIES Receipts from customers 466,596,319 478,864,463 Interest received 691,995 4,387,876 Receipts from other income 2,603,081 5,940,455 Payments to suppliers and employees (311,533,581) (406,035,568) Interest paid (2,293,877) (2,038,023) Income tax (paid) refunded (332,297) 112,679 Net cash flows from operating activities 10 155,731,640 81,231,882 INVESTING ACTIVITIES Payments for property, plant and equipment (31,486,090) (34,096,282) Payments for mine properties and development (132,909,127) (89,329,478) Payments for exploration and evaluation (14,049,293) (16,411,426) Payment for financial assets (2,057,789) (138,153) Proceeds from sale of financial assets 15 56,113,502 5,798,098 Proceeds from sale of property, plant and equipment 1,939,129 2,197,033 Proceeds from disposal of a subsidiary – 22,314,937 Cash relinquished on disposal of a subsidiary 38 (86,966) – Proceeds from (payments for) performance bond facility 258,387 (141,290) Net cash flows used in investing activities (122,278,247) (109,806,561) FINANCING ACTIVITIES Payment of hire purchase arrangements 4(g) (19,331,761) (20,848,905) Payment for lease liabilities (7,753,813) – Proceeds from gold prepayment 25 – 20,853,550 Proceeds from share issue 26(b) 66,542,506 23,489,570 Payments for share issue costs (2,541,700) (1,170,000) Net cash flows from financing activities 36,915,232 22,324,215 Net increase (decrease) in cash and cash equivalents 70,368,625 (6,250,464) Cash and cash equivalents at the beginning of the financial year 67,196,289 73,446,753 Cash and cash equivalents at the end of the year 10 137,564,914 67,196,289