85 Westgold Resources Limited Annual Report 2024 15. FINANCIAL ASSETS (CONTINUED) Listed shares These financial assets consist of investments in ordinary shares. The fair value of equity investments at fair value through profit or loss has been determined directly by reference to published price quotations in an active market (Level 1). Movement in investments during the year ended 30 June 2024 are as follows: – The Group has a 18.69% (2023: 0%) interest in Ora Gold Limited (OAU), which is involved in the exploration of gold and base metals in Australia. OAU is listed on the Australian Securities Exchange (ASX: OAU). At the end of the year, the fair value of the Group’s investment was $8,010,952 (2023: $nil) which is based on the quoted share price. – All Group’s investment in Musgrave Minerals Limited was sold during the year (2023: 2.48%). Musgrave is listed on the Australian Securities Exchange (ASX: MGV) which is involved in the exploration of gold and base metals in Australia. At the end of the year, the fair value of the Group’s investment was $nil (2023: $4,182,673) which is based on the quoted share price. – All Group’s investment in Alto Metals Limited was sold during the year (2023: 11.58%). Alto is listed on the Australian Securities Exchange (ASX: AME) which is involved in the exploration of gold and base metals in Australia. At the end of the year, the fair value of the Group’s investment was $nil (2023: $3,975,039) which is based on the quoted share price. 16. PROPERTY, PLANT & EQUIPMENT 2024 2023 Plant and equipment Gross carrying amount at cost 399,635,268 378,943,868 Accumulated depreciation and impairment (305,092,863) (284,067,365) Net carrying amount 94,542,405 94,876,503 LAND AND BUILDINGS Gross carrying amount at cost 33,509,365 26,774,075 Accumulated depreciation and impairment (13,260,212) (11,107,700) Net carrying amount 20,249,153 15,666,375 Capital work in progress at cost 89,668,177 30,360,293 Total property, plant and equipment 204,459,735 140,903,171 MOVEMENT IN PROPERTY, PLANT AND EQUIPMENT Plant and equipment At 1 July net of accumulated depreciation 94,876,503 112,948,563 Transfer from capital work in progress 40,460,719 27,420,667 Disposals (1,447,736) (1,203,359) Impairment write-down (refer to Note 17) – – Depreciation charge for the year (39,347,081) (44,289,369) At 30 June net of accumulated depreciation 94,542,405 94,876,503
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