Westgold Resources Limited Annual Report 2020

79 Westgold Resources Limited Annual Report 2020 10. CASH AND CASH EQUIVALENTS 2020 2019 Cash at bank and in hand 137,218,827 67,196,289 Short-term deposits 346,087 – Cash at bank and in hand 137,564,914 67,196,289 CASH FLOW RECONCILIATION Reconciliation of net profit after income tax to net cash flows from operating activities Profit (loss) after income tax 34,607,315 14,130,064 Amortisation and depreciation 139,602,938 123,059,758 Gold prepayment physical deliveries (refer to Note 25) (25,470,487) (13,458,438) Income tax expense (benefit) 9,255,117 (3,263,926) Share based payments 183,956 1,021,722 Unwinding of rehabilitation provision discount 918,881 1,809,538 Accumulated mill scats written off – 11,628,184 Net profit on disposal of property, plant and equipment (3,031,573) (104,568) Re-measurement of lithium rights (refer to Note 15) – (15,000,000) Fair value change in financial instruments (refer to Note 15) (8,888,756) (9,384,589) Mining rights received in financial instruments – (238,000) Exploration and evaluation expenditure written off (refer to Note 18) 356,317 6,165,134 Profit on demerger of a subsidiary (refer to Note 38) (8,727,618) – Profit on disposal of a subsidiary (refer to Note 39) – (16,435,747) 138,806,090 99,929,132 Changes in assets and liabilities Decrease (increase) in inventories 1,554,748 (11,546,974) (Increase) decrease in trade and other receivables and prepayments (2,272,566) 12,319,400 Increase (decrease) in trade and other creditors 15,617,527 (21,343,789) Increase in provisions 2,025,841 1,874,113 Net cash flows from operating activities 155,731,640 81,231,882 11. TRADE AND OTHER RECEIVABLES (current) 2020 2019 Statutory receivables 5,364,679 4,299,560 Other debtors 1,866,458 2,692,561 Total trade and other receivables 7,231,137 6,992,121 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.