77 Westgold Resources Limited Annual Report 2023 10. CASH AND CASH EQUIVALENTS 2023 2022 Cash at bank and in hand 176,411,855 142,701,502 Short-term deposits – 40,000,000 Cash at bank and in hand 176,411,855 182,701,502 CASH FLOW RECONCILIATION Reconciliation of net profit after income tax to net cash flows from operating activities Profit/(loss) before income tax 10,003,484 (111,119,291) Amortisation and depreciation 153,812,376 193,180,670 Income tax (benefit)/expense 3,945,984 (48,967,227) Share based payments 1,039,025 618,435 Unwinding of rehabilitation provision discount 770,760 895,459 Net loss/(profit) on disposal of property, plant and equipment (4,448,016) (1,316,434) Profit on disposal of fair value financial assets 190,939 – Fair value change in financial instruments (refer to Note 15) (4,435) 2,014,040 Impairment of mine properties and property plant and equipment (refer to Note 17) – 175,535,410 Exploration and evaluation expenditure written off (refer to Note 18) – 110,165 165,310,117 210,951,227 Changes in assets and liabilities (Increase)/decrease in inventories 13,342,615 (36,952,721) Increase in trade and other receivables and prepayments (754,936) (1,047,740) Increase/(decrease) in trade and other creditors (8,790,126) 4,520,668 Increase/(decrease) in provisions (674,452) 2,384,020 Net cash flows from operating activities 168,433,218 179,855,454 At 30 June 2023, the Group had available $8,457,321 (2022: $3,156,781) of undrawn borrowing facilities. 11. TRADE AND OTHER RECEIVABLES (current) 2023 2022 Statutory receivables 5,858,984 6,453,347 Other debtors 995,927 669,387 Total trade and other receivables 6,854,911 7,122,734 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, none of which were past due. The carrying amount of other debtors approximate their fair value. Refer Note 4(b) for credit risk disclosures.
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