Westgold Resources Limited Annual Report 2021

76 Westgold Resources Limited Annual Report 2021 for the year ended 30 June 2021 FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 10. CASH AND CASH EQUIVALENTS 2021 2020 Cash at bank and in hand 150,684,029 137,218,827 Short-term deposits – 346,087 Cash at bank and in hand 150,684,029 137,564,914 CASH FLOW RECONCILIATION Reconciliation of net profit after income tax to net cash flows from operating activities Profit after income tax 76,751,880 34,607,315 Amortisation and depreciation 140,130,238 139,602,938 Gold prepayment physical deliveries (refer to Note 25) – (25,470,487) Provisional gold sales (refer to Note 25) (198,841) – Income tax expense 35,141,187 9,255,117 Share based payments 800,132 183,956 Unwinding of rehabilitation provision discount 347,475 918,881 Net loss (profit) on disposal of property, plant and equipment 1,053,154 (3,031,573) Fair value change in financial instruments (refer to Note 15) (5,202,140) (8,888,756) Exploration and evaluation expenditure written off (refer to Note 18) 86,058 356,317 Profit on demerger of a subsidiary (refer to Note 38) – (8,727,618) 248,909,143 138,806,090 Changes in assets and liabilities (Increase) decrease in inventories (15,181,202) 1,554,748 Increase in trade and other receivables and prepayments (954,066) (2,272,566) Increase in trade and other creditors 14,258,184 15,617,527 Increase in provisions 2,109,890 2,025,841 Net cash flows from operating activities 249,141,949 155,731,640 At 30 June 2021, the Group had available $5,988,078 (2020: $17,405,057) of undrawn borrowing facilities. 11. TRADE AND OTHER RECEIVABLES (current) 2021 2020 Statutory receivables 6,738,159 5,364,679 Other debtors 727,936 1,866,458 Total trade and other receivables 7,466,095 7,231,137 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.