Westgold Resources Limited Annual Report 2021

51 Westgold Resources Limited Annual Report 2021 for the year ended 30 June 2021 FINANCIAL REPORT CONSOLIDATED STATEMENT OF CASH FLOWS Notes 2021 2020 OPERATING ACTIVITIES Receipts from customers 570,971,358 466,596,319 Interest received 333,794 691,995 Receipts from other income 1,957,496 2,603,081 Payments to suppliers and employees (322,933,634) (311,533,581) Interest paid (1,240,191) (2,293,877) Income tax refunded (paid) 53,126 (332,297) Net cash flows from operating activities 10 249,141,949 155,731,640 INVESTING ACTIVITIES Payments for property, plant and equipment (32,351,779) (31,486,090) Payments for mine properties and development (182,395,512) (132,909,127) Payments for exploration and evaluation (14,249,778) (14,049,293) Payment for financial assets (5,986,129) (2,057,789) Proceeds from sale of financial assets 15 17,765,178 56,113,502 Proceeds from sale of property, plant and equipment 3,412,695 1,939,129 Cash relinquished on disposal of a subsidiary 38 – (86,966) Proceeds from performance bond facility – 258,387 Net cash flows used in investing activities (213,805,325) (122,278,247) FINANCING ACTIVITIES Payment of hire purchase arrangements 4(g) (22,245,203) (19,331,761) Payment for lease liabilities (8,346,056) (7,753,813) Proceeds from share issue 26(b) 8,373,750 66,542,506 Payments for share issue costs – (2,541,700) Net cash flows from (used in) financing activities (22,217,509) 36,915,232 Net increase in cash and cash equivalents 13,119,115 70,368,625 Cash and cash equivalents at the beginning of the financial year 137,564,914 67,196,289 Cash and cash equivalents at the end of the year 10 150,684,029 137,564,914 C