Westgold Resources Limited Annual Report 2021

79 Westgold Resources Limited Annual Report 2021 2021 2020 At 30 June net of accumulated depreciation 141,224,081 135,415,999 Land and buildings At 1 July net of accumulated depreciation 17,911,488 15,655,400 Transfer from capital works in progress 1,344,375 4,257,657 Disposal of subsidiary – (173,797) Depreciation charge for the year (1,883,585) (1,827,772) At 30 June net of accumulated depreciation 17,372,278 17,911,488 Capital work in progress At 1 July 8,565,545 22,750,247 Additions 66,730,495 36,684,765 Transfer to mine properties (refer to Note 17) (1,687,813) (2,179,429) Transfer to mine capital development (refer to Note 17) (1,158,434) (1,314,436) Transfer to plant and equipment (62,953,599) (43,117,945) Transfer to property (1,344,375) (4,257,657) At 30 June 8,151,819 8,565,545 The carrying value of plant and equipment purchase under financing arrangements at 30 June 2021 is $43,054,511 (2020: $40,034,638). Assets under hire purchase contracts are pledged as security for the related interest bearing liabilities (refer to Notes 23 and 24). 17. MINE PROPERTIES AND DEVELOPMENT 2021 2020 Development areas Gross carrying amount at cost – – Net carrying amount – – Mine properties Gross carrying amount at cost 314,945,512 219,555,904 Accumulated amortisation and impairment (42,821,170) (30,605,966) Net carrying amount 272,124,342 188,949,938 Mine capital development Gross carrying amount at cost 394,338,003 303,343,786 Accumulated amortisation (259,126,425) (193,780,595) Net carrying amount 135,211,578 109,563,191 Total mine properties and development costs 407,335,920 298,513,129 Movement in mine properties and development Development areas At 1 July – 756,919 Disposal of subsidiary – (756,919) At 30 June – – 16. PROPERTY, PLANT & EQUIPMENT (CONTINUED)