Westgold Resources Limited Annual Report 2020

74 Westgold Resources Limited Annual Report 2020 Financial Report Notes to the Consolidated Financial Statements for the year ended 30 June 2020 4. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED) Risk exposures and responses (continued) (g) Changes in liabilities arising from financing activities Transitional adjustment Cash flows New leases Reclassi- fication adjustment Closing Lease liability 2020 Current obligations 6,031,093 (7,753,813) 1,722,720 7,425,093 7,425,093 Non-current obligations 6,935,551 – 5,287,108 (7,425,093) 4,797,566 Total liabilities 12,966,644 (7,753,813) 7,009,828 – 12,222,659 Opening Cash flows Additions Reclassi- fication adjustment Closing Interest bearing liability 2020 Current obligations 18,271,020 (19,331,761) 1,060,741 16,309,721 16,309,721 Non-current obligations 18,465,857 – 7,137,934 (16,309,721) 9,294,070 Total liabilities 36,736,877 (19,331,761) 8,198,675 – 25,603,791 2019 Current obligations 16,819,651 (20,848,905) 4,029,254 18,271,020 18,271,020 Non-current obligations 13,828,667 – 22,908,210 (18,271,020) 18,465,857 Total liabilities 30,648,318 (20,848,905) 26,937,464 – 36,736,877 5. REVENUE 2020 2019 Sale of gold at spot 264,025,099 160,727,868 Sale of gold under forward contracts 201,126,150 215,904,789 Sale of gold under a prepay facility (refer Note 25) 25,938,399 16,011,946 Mining and contracting services 1,178,623 25,672,844 Total revenue from contracts with customers 492,268,271 418,317,447 Disaggregated revenue per segment has been disclosed in Note 33. No revenue was recognised during the year for performance obligations satisfied in previous periods. The transaction price allocated to remaining performance obligations under forward contracts not recognised at the balance sheet date at 30 June 2020 is as follows: 2020 2019 Gold forward contracts - Within 1 year 247,470,000 247,844,578 - 1 to 2 years 164,980,000 113,322,000 412,450,000 361,166,578 The amounts due are for delivery of gold which will be paid within 3 days of delivery.