76 2022 ANNUAL REPORT Notes to the CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2022 (cont.) 30 RECONCILIATION OF NET CASH FLOWS FROM OPERATING ACTIVITIES CONSOLIDATED 30 June 2022 30 June 2021 $’000 $’000 Operating (loss)/profit after income tax (28,615) (43,245) Profit on sale discontinued operation (21,225) - Impairment of discontinued operation - 26,568 Amortisation and depreciation 42,514 23,493 Ineffective portion of cashflow hedges (2,063) (3,363) Deferred tax (915) (2,997) Share based payment 3,875 1,767 Interest expenses 326 921 Write down of obsolete inventory 4,699 683 Write down of gold-in-circuit inventory 7,934 - Non-cash stockpile movements (522) 362 Unwinding of asset retirement obligation 858 179 Amortisation of borrowing costs 90 150 Other 861 2,632 Changes in operating assets and liabilities: (Increase)/decrease in inventories (14,843) 9,588 (Increase)/decrease in receivables (1,664) 1,936 Increase/(decrease) in payables 7,192 (2,930) (Decrease)/increase in income tax payable - (1,791) (Decrease)/increase in provisions (861) 602 Net cash flow from operating activities (2,359) 14,555 31 SHARE-BASED PAYMENT ARRANGEMENTS The following is the movement in performance rights during the period: Movement in Performance Rights year ended 30 June 2022 Performance rights Series Balance at 1 July 2021 Granted(a) Vested (b) Forfeited (c) Balance at 30 June 2022 2022 Series 10,442,031 - (5,576,211) (4,865,820) - 2023 Series 7,945,729 - - - 7,945,729 2023 PIO Series - 11,550,613 - - 11,550,613 2024 Series - 18,410,000 - - 18,410,000 Total 18,387,760 29,960,613 (5,576,211) (4,865,820) 37,906,342 Movement in Performance Rights year ended 30 June 2021 Performance rights Series Balance at 1 July 2020 Granted(a) Vested (b) Forfeited (c) Balance at 30 June 2021 2021 Series 15,241,298 - (10,668,909) (4,572,389) - 2022 Series 10,442,031 - - - 10,442,031 2023 Series - 7,945,729 - - 7,945,729 Total 25,683,329 7,945,729 (10,668,909) (4,572,389) 18,387,760
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