Westgold Resources Limited Annual Report 2020

80 Westgold Resources Limited Annual Report 2020 Financial Report Notes to the Consolidated Financial Statements for the year ended 30 June 2020 12. INVENTORIES (current) 2020 2019 Ore stocks at net realisable value 9,421,255 17,081,112 Gold in circuit at cost 15,326,412 13,773,228 Gold metal at cost 197,885 – Stores and spares at cost 22,561,112 17,099,860 Provision for obsolete stores and spares (3,558,469) (2,451,286) Total inventories at lower of cost and net realisable value 43,948,165 45,502,914 During the year there were write-downs in inventories of $1,005,487 (2019: nil) from continuing operations for the Group. This is included in cost of sales refer to Note 7(a). 13. PREPAYMENTS (current) 2020 2019 Prepayments 3,369,998 1,336,486 3,369,998 1,336,486 14. OTHER FINANCIAL ASSETS (current) 2020 2019 Cash on deposit 1,149,449 1,427,836 1,149,449 1,427,836 The cash on deposit is interest bearing and is used as security for bank guarantees. 15. FINANCIAL ASSETS 2020 2019 Listed shares - Australian and Canadian – 41,210,813 Royalties receivable - Lithium rights 13,000,000 15,000,000 13,000,000 56,210,813 Movement in Listed Shares At 1 July 41,210,813 6,267,158 Additions of listed shares 4,263,933 31,357,163 Proceeds on disposal of financial assets (54,363,502) (5,798,098) Net gain on fair value changes of financial assets 8,888,756 9,474,899 Loss on sale of financial assets - discontinued operations (Note 39) – (90,309) At 30 June – 41,210,813 Movement in Royalties Receivable At 1 July 15,000,000 – Re-measurement of receivable – 15,000,000 Settlement of Buldania royalty (2,000,000) – At 30 June 13,000,000 15,000,000