Westgold Resources Limited Annual Report 2021

77 Westgold Resources Limited Annual Report 2021 12. INVENTORIES (current) 2021 2020 Ore stocks at net realisable value 13,906,060 9,421,255 Gold in circuit at cost 15,529,300 15,326,412 Gold metal at cost 161,235 197,885 Stores and spares at cost 34,250,915 22,561,112 Provision for obsolete stores and spares (4,718,142) (3,558,469) Total inventories at lower of cost and net realisable value 59,129,368 43,948,165 During the year there were write-downs in inventories of $6,175,664 (2020: $1,005,487) from continuing operations for the Group. This is included in cost of sales refer to Note 7(a). 13. PREPAYMENTS (current) 2021 2020 Prepayments 4,035,977 3,369,998 4,035,977 3,369,998 14. OTHER FINANCIAL ASSETS (current) 2021 2020 Cash on deposit 1,149,449 1,149,449 1,149,449 1,149,449 The cash on deposit is interest bearing and is used as security for bank guarantees. 15. FINANCIAL ASSETS 2021 2020 Listed shares - Australian 6,423,091 – Royalties receivable - Lithium rights – 13,000,000 6,423,091 13,000,000 Movement in Listed Shares At 1 July – 41,210,813 Additions of listed shares 5,986,129 4,263,933 Proceeds on disposal of financial assets (265,178) (54,363,502) Net gain on fair value changes of financial assets 702,140 8,888,756 At 30 June 6,423,091 – Movement in Royalties Receivable At 1 July 13,000,000 15,000,000 Net gain on financial assets at FVTPL 4,500,000 – Settlement of Mount Marion lithium royalty (17,500,000) – Settlement of Buldania royalty – (2,000,000) At 30 June – 13,000,000