Westgold Resources Limited Annual Report 2020

82 Westgold Resources Limited Annual Report 2020 Financial Report Notes to the Consolidated Financial Statements for the year ended 30 June 2020 2020 2019 Land and buildings At 1 July net of accumulated depreciation 15,655,400 13,200,044 Transfer from capital works in progress 4,257,657 3,840,684 Disposal of subsidiary (173,797) 102,764 Depreciation charge for the year (1,827,772) (1,488,092) At 30 June net of accumulated depreciation 17,911,488 15,655,400 Capital work in progress At 1 July 22,750,247 47,445,443 Additions 36,684,765 60,352,877 Transfer to mine properties (refer to Note 17) (2,179,429) (7,740,341) Transfer to mine capital development (refer to Note 17) (1,314,436) (2,957,890) Transfer to plant and equipment (43,117,945) (70,509,158) Transfer to property (4,257,657) (3,840,684) At 30 June 8,565,545 22,750,247 The carrying value of plant and equipment purchase under financing arrangements at 30 June 2020 is $40,034,638 (2019: $42,714,688). Assets under hire purchase contracts are pledged as security for the related interest bearing liabilities (refer to Notes 23 and 24). 17. MINE PROPERTIES AND DEVELOPMENT 2020 2019 Development areas Gross carrying amount at cost – 756,919 Net carrying amount – 756,919 Mine properties Gross carrying amount at cost 219,555,904 133,131,950 Accumulated amortisation and impairment (30,605,966) (15,291,812) Net carrying amount 188,949,938 117,840,138 Mine capital development Gross carrying amount at cost 303,343,786 222,583,827 Accumulated amortisation (193,780,595) (122,973,550) Net carrying amount 109,563,191 99,610,277 Total mine properties and development costs 298,513,129 218,207,334 Movement in mine properties and development Development areas At 1 July 756,919 756,919 Disposal of subsidiary (756,919) At 30 June – 756,919 16. PROPERTY, PLANT & EQUIPMENT (CONTINUED)