for the year ended 30 June 2022 FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 76 Westgold Resources Limited Annual Report 2022 10. CASH AND CASH EQUIVALENTS 2022 2021 Cash at bank and in hand 142,701,502 150,684,029 Short-term deposits 40,000,000 – Cash at bank and in hand 182,701,502 150,684,029 CASH FLOWRECONCILIATION Reconciliation of net profit after income tax to net cash flows from operating activities Profit (loss) after income tax (111,119,291) 76,751,880 Amortisation and depreciation 193,180,670 140,130,238 Provisional gold sales (refer to Note 25) – (198,841) Income tax (benefit) expense (48,967,227) 35,141,187 Share based payments 618,435 800,132 Unwinding of rehabilitation provision discount 895,459 347,475 Net loss (profit) on disposal of property, plant and equipment (1,316,434) 1,053,154 Fair value change in financial instruments (refer to Note 15) 2,014,040 (5,202,140) Impairment of mine properties and property plant and equipment (refer to Note 17) 175,535,410 – Exploration and evaluation expenditure written off (refer to Note 18) 110,165 86,058 210,951,227 248,909,143 Changes in assets and liabilities (Increase) decrease in inventories (36,952,721) (15,181,202) Increase in trade and other receivables and prepayments (1,047,740) (954,066) Increase in trade and other creditors 4,520,668 14,258,184 Increase in provisions 2,384,020 2,109,890 Net cash flows from operating activities 179,855,454 249,141,949 At 30 June 2022, the Group had available $3,156,781 (2021: $5,988,078) of undrawn borrowing facilities. 11. TRADE AND OTHER RECEIVABLES (current) 2022 2021 Statutory receivables 6,453,347 6,738,159 Other debtors 669,387 727,936 Total trade and other receivables 7,122,734 7,466,095 Statutory receivables comprises of GST input tax credits and diesel fuel rebates. Other debtors are non-interest bearing and generally have a 30-60 day term. All trade and other receivables are classed as recoverable in full. The carrying amount of other debtors approximate their fair value. Refer Note 4(b) for credit risk disclosures.
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