for the year ended 30 June 2023 FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 88 Westgold Resources Limited Annual Report 2023 24.INTEREST-BEARING LOANS AND BORROWINGS (non-current) (CONTINUED) Non-current (continued) Interest bearing liabilities Minimum payments Present value of payments 2022 Within one year 17,721,643 16,837,629 After one year but not more than five years 15,678,760 15,212,829 Total minimum payments 33,400,403 32,050,458 Less amounts representing finance charges (1,349,945) – Present value of minimum payments 32,050,458 32,050,458 Lease liabilities AASB 16 Leases requires the recognition of right-of-use assets for the remaining term of the current leases for office premises and the warehouse facility, as well as the power stations and equipment at the various mine sites. Lease liabilities Minimum lease payments Present value of lease payments 2023 Within one year 2,417,295 2,111,143 After one year but not more than five years 4,190,794 3,484,329 Total minimum lease payments 6,608,089 5,595,472 Less amounts representing finance charges (1,012,617) – Present value of minimum lease payments 5,595,472 5,595,472 Lease liabilities Minimum lease payments Present value of lease payments 2022 Within one year 6,573,483 6,004,390 After one year but not more than five years 5,879,451 4,904,963 Total minimum lease payments 12,452,934 10,909,353 Less amounts representing finance charges (1,543,581) – Present value of minimum lease payments 10,909,353 10,909,353
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