| |
2010
$'000s |
2009
$'000s |
| Cash flow from operating activities |
|
|
|---|
| Loss before tax |
(113,653) |
(2,959) |
|---|
| Adjustments for: |
|
|
|---|
| Exploration write offs |
91,336 |
5,860 |
|---|
| Amortisation and depreciation and impairment |
186,884 |
62,406 |
|---|
| Interest revenue |
(399) |
(531) |
|---|
| Finance costs |
15,523 |
4,411 |
|---|
| Other financial (gains)/losses |
(7,431) |
12,258 |
|---|
| Share Based Payment |
2,092 |
2,233 |
|---|
| Operating cash flow prior to working capital |
174,352 |
83,678 |
|---|
| Decrease/(increase) in inventories |
3,951 |
(16,432) |
|---|
| Increase in trade and other receivables |
(51,623) |
(2,972) |
|---|
| (Decrease)/increase in trade and other payables |
(1,479) |
7,839 |
|---|
| Cash generated from operations |
125,201 |
72,113 |
|---|
| Payment of tax |
(18,693) |
(18,555) |
|---|
| Net cash from operating activities |
106,508 |
53,558 |
|---|
| Cash flow from investing activities |
|
|
|---|
| Expenditures on intangible assets |
(48,228) |
(32,105) |
|---|
| Purchase of property, plant and equipment |
(117,389) |
(88,194) |
|---|
| Repayment of other receivables |
6,271 |
686 |
|---|
| Interest received |
382 |
531 |
|---|
| Net cash used in investing activities |
(158,964) |
(119,082) |
|---|
| Cash flow from financing activities |
|
|
|---|
| Interest paid |
(9,426) |
(5,851) |
|---|
| Other financial payments |
(2,222) |
(1,063 ) |
|---|
| Cash flows in respect of long term borrowings: |
|
|
|---|
| Drawdown of senior/junior reserves based lending facility |
26,175 |
16,853 |
|---|
| Repayment of senior/junior reserves based lending facility |
(88,546) |
– |
| Issue of convertible bond |
97,273 |
– |
|---|
| Drawdown of acquisition bridge facility |
71,878 |
– |
| Net cash from financing activities |
95,132 |
9,939 |
|---|
| Net increase/(decrease) in cash and cash equivalents |
42,676 |
(55,585) |
|---|
| Cash and cash equivalents at the beginning of the year |
47,753 |
103,012 |
|---|
| Effect of foreign exchange rate change |
(569) |
326 |
|---|
| Cash and cash equivalents at the end of the year |
89,860 |
47,753 |
|---|
View the notes (PDF, 505 KB, opens in a new window)