Note 2022 $ 2021 $ Cash flows from operating activities Payments to suppliers and employees (1,611,050) (1,372,152) Interest received 8,774 1,751 Interest paid (5,280) (3,347) Net cash used in operating activities 5b (1,607,556) (1,373,748) Cash flows from Investing activities Payments for exploration and evaluation (7,953,630) (6,150,691) Payments for property, plant and equipment (158,275) (55,015) Payments for bank guarantees (54,318) (9,425) Net cash used in investing activities (8,166,223) (6,215,131) Cash flows from financing activities Proceeds from issue of shares 4,572,500 4,721,530 Transaction costs (223,163) (189,000) Proceeds from borrowings 127,808 – Repayment of borrowings (78,685) (15,736) Net cash provided from financing activities 4,398,460 4,516,794 Net decrease in cash held (5,375,319) (3,072,085) Cash and cash equivalents at the beginning of the year 5,729,496 8,801,581 Effects of exchange rate changes on cash and cash equivalents (543) – Cash and cash equivalents at the end of the year 5 353,634 5,729,496 The consolidated statement of cash flows is to be read in conjunction with the accompanying notes. Consolidated Statement of Cash Flows for the year ended 31 December 2022 Annual Report 2022 51
RkJQdWJsaXNoZXIy MjE2NDg3