| |
2009
$'000s |
2008
$'000s |
| Cash flow from operating activities |
|
|
|---|
| Loss before tax |
(2,959) |
(75,472) |
|---|
| Adjustments for: |
|
|
|---|
| Profit on disposal of assets |
– |
(807) |
|---|
| Exploration write offs |
5,860 |
39,065 |
|---|
| Amortisation and depreciation |
62,406 |
83,104 |
|---|
| Interest revenue |
(531) |
(5,814) |
|---|
| Finance costs |
4,411 |
2,953 |
|---|
| Other financial gains losses/(gains) |
12,258 |
(3,564) |
|---|
| Share based payment |
2,233 |
939 |
|---|
| Operating cash flow prior to working capital |
83,678 |
40,404 |
|---|
| Increase in inventories |
(16,432) |
(176) |
|---|
| Decrease in trade and other receivables |
(2,972) |
1,326 |
|---|
| Increase/(decrease) in trade and other payables |
7,839 |
(128) |
|---|
| Cash generated from operations |
72,113 |
41,426 |
|---|
| Payment of tax |
(18,555) |
(15,916) |
|---|
| Net cash inflows from operating activities |
53,558 |
25,510 |
|---|
| Cash flow from investing activities |
|
|
|---|
| Acquisition of subsidiary |
– |
(32,676) |
|---|
| Expenditures on intangible assets |
(32,105) |
(133,110) |
|---|
| Purchase of property, plant and equipment |
(88,194) |
(113,315) |
|---|
| Disposal of assets |
– |
1,500 |
|---|
| Loan advances |
– |
(32,350) |
|---|
| (Payment)/Repayment of other receivables |
686 |
5,905 |
|---|
| Interest received |
531 |
3,545 |
|---|
| Net cash used in investing activities |
(119,082) |
(300,501) |
|---|
| Cash flow from financing activities |
|
|
|---|
| Interest paid |
(5,851) |
(5,848) |
|---|
| Other financial payments |
(1,063 ) |
(3,401) |
|---|
| Cash flows in respect of long term borrowings |
16,853 |
89,670 |
|---|
| Net proceeds from the issue of shares |
– |
192,019 |
|---|
| Costs of issuing new shares |
– |
(12,851) |
| Net cash from financing activities |
9,939 |
259,589 |
|---|
| Net decrease in cash and cash equivalents |
(55,585) |
(15,402) |
|---|
| Cash and cash equivalents at the beginning of the year |
103,012 |
116,881 |
|---|
| Effect of foreign exchange rate change |
326 |
1,533 |
|---|
| Cash and cash equivalents at the end of the year |
47,753 |
103,012 |
|---|
View the notes (PDF, 112 KB, opens in a new window)