for the year ended 30 June 2023 FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 80 Westgold Resources Limited Annual Report 2023 2023 2022 Land and buildings At 1 July net of accumulated depreciation 17,353,283 17,372,278 Transfer from capital works in progress 299,212 2,076,537 Depreciation charge for the year (1,986,120) (2,095,532) At 30 June net of accumulated depreciation 15,666,375 17,353,283 Capital work in progress At 1 July 17,614,257 8,151,819 Additions 45,759,537 60,185,474 Transfer to mine properties (refer to Note 17) (5,055,590) (898,122) Transfer to mine capital development (refer to Note 17) (238,033) (1,523,963) Transfer to plant and equipment (27,420,667) (46,224,414) Transfer to land and buildings (299,212) (2,076,537) At 30 June 30,360,293 17,614,257 The carrying value of plant and equipment purchase under financing arrangements at 30 June 2023 is $29,485,283 (2022: $34,874,588). Assets under equipment loans are pledged as security for the related interest bearing liabilities (refer to Notes 23 and 24). 17. MINE PROPERTIES AND DEVELOPMENT 2023 2022 Mine properties Gross carrying amount at cost 368,689,838 363,637,652 Accumulated amortisation and impairment (214,118,850) (190,388,957) Net carrying amount 154,570,988 173,248,695 Mine capital development Gross carrying amount at cost 583,531,191 492,782,758 Accumulated amortisation and impairment (479,314,529) (402,227,896) Net carrying amount 104,216,662 90,554,862 Total mine properties and development costs 258,787,650 263,803,557 16. PROPERTY, PLANT & EQUIPMENT (CONTINUED)
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