FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2024 86 Westgold Resources Limited Annual Report 2024 2024 2023 LAND AND BUILDINGS At 1 July net of accumulated depreciation 15,666,375 17,353,283 Transfer from capital works in progress 6,735,291 299,212 Depreciation charge for the year (2,152,513) (1,986,120) At 30 June net of accumulated depreciation 20,249,153 15,666,375 CAPITAL WORK IN PROGRESS At 1 July 30,360,293 17,614,257 Additions 106,503,894 45,759,537 Transfer to mine properties (refer to Note 17) – (5,055,590) Transfer to mine capital development (refer to Note 17) – (238,033) Transfer to plant and equipment (40,460,719) (27,420,667) Transfer to land and buildings (6,735,291) (299,212) At 30 June 89,668,177 30,360,293 The carrying value of plant and equipment purchase under financing arrangements at 30 June 2024 is $37,423,518 (2023: $29,485,283). 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 2024 2023 MINE PROPERTIES Gross carrying amount at cost 389,709,333 368,689,838 Accumulated amortisation and impairment (228,386,871) (214,118,850) Net carrying amount 161,322,462 154,570,988 MINE CAPITAL DEVELOPMENT Gross carrying amount at cost 761,723,194 583,531,191 Accumulated amortisation and impairment (558,791,035) (479,314,529) Net carrying amount 202,932,159 104,216,662 Total mine properties and development costs 364,254,621 258,787,650 16. PROPERTY, PLANT & EQUIPMENT (CONTINUED)
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