FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2024 90 Westgold Resources Limited Annual Report 2024 24. INTEREST-BEARING LOANS AND BORROWINGS (NON-CURRENT) 2024 2023 Lease liabilities 2,345,470 3,484,329 Equipment loans1 28,887,078 8,063,702 At 30 June 31,232,548 11,548,031 1 Represents non-current portion of equipment loans which have repayment terms of 36 months from inception. The weighted average interest rate is 6.28% per annum (2023: 7.91%). The Group executed a Syndicated Facility Agreement (SFA) with ING Bank and Société Generale. The SFA provides the Group with an A$100M revolving corporate facility with a three-year term, which the Group is able to utilise for general corporate purposes. During the year ended 30 June 2024, the SFA remains undrawn. This facility is subject to the fulfilment of financial covenants, as are commonly found in lending arrangements with financial institutions. The Group regularly monitors its compliance with these covenants. As at 30 June 2024, none of the covenants relating to this facility have been breached. Assets pledged as security: The carrying amounts of assets pledged as security for current and non-current interest-bearing liabilities: Non-current Equipment loans PLANT AND EQUIPMENT 37,423,518 29,485,283 Total non-current assets pledged as security 37,423,518 29,485,283 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. Equipment loans Minimum payments Present value of payments 2024 Within one year 21,262,350 22,057,764 After one year but not more than five years 30,576,280 28,887,078 Total minimum payments 51,838,630 50,944,842 Less amounts representing finance charges (893,788) – Present value of minimum payments 50,944,842 50,944,842
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