87 Westgold Resources Limited Annual Report 2023 23. INTEREST-BEARING LOANS AND BORROWINGS (current) 2023 2022 Lease liabilities 2,111,143 6,004,390 Equipment loans 13,831,644 16,837,629 At 30 June 15,942,787 22,842,019 Represents current portion of equipment loans which have repayment terms of 36 months from inception. 24.INTEREST-BEARING LOANS AND BORROWINGS (non-current) 2023 2022 Lease liabilities 3,484,329 4,904,963 Equipment loans 8,063,702 15,212,829 At 30 June 11,548,031 20,117,792 Represents non-current portion of equipment loans which have repayment terms of 36 months from inception. The weighted average interest rate is 7.91% per annum (2022: 3.91%). Assets pledged as security: The carrying amounts of assets pledged as security for current and non-current interest-bearing liabilities: Non-current Equipment loans 2023 2022 Plant and equipment 29,485,283 34,874,588 Total non-current assets pledged as security 29,485,283 34,874,588 Plant and equipment assets are pledged against liabilities for the term of the arrangement. Future commitments in respect of interest bearing loans Equipment loan commitments The Company has equipment loans for various items of plant and machinery. The equipment loans have an average term of 36 months. Assets under equipment loans are pledged as security for the related interest bearing liabilities. Interest bearing liabilities Minimum payments Present value of payments 2023 Within one year 14,525,399 13,831,644 After one year but not more than five years 8,421,478 8,063,702 Total minimum payments 22,946,877 21,895,346 Less amounts representing finance charges (1,051,531) – Present value of minimum payments 21,895,346 21,895,346
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