Statement of cash flows

for the year ended 31 December

		Group		Company
R'000	Notes	2025	Restated 2024	2025	2024
Cash flows from operating activities
Cash generated from operations*	27	679 466	2 034 712	263 300	1 027 269
Dividends received from associate	6	7 663	1 596	–	–
Finance income received	23	38 308	66 359	143	435
Finance expense paid	24	(1 970)	(2 164)	–	–
Taxation paid	12	(113 667)	(356 374)	(109)	–
Net cash from operating activities*		609 800	1 744 129	263 334	1 027 704
Cash flows from investing activities
Acquisition of property, plant and equipment – sustaining	3	(407 237)	(608 373)	(757)	(342)
Acquisition of property, plant and equipment – expansionary	3	(39 280)	(53 819)	–	–
Proceeds from the sale of property, plant and equipment		1 100	644	–	–
Proceeds from the sale of land and mineral rights		–	7 894	–	–
Loan to subsidiary – repaid by subsidiary		–	–	62 634	64 358
Loan to subsidiary – advanced by company		–	–	(26 226)	(37 638)
Repaid/advanced other long-term receivables		597	(3 501)	597	(3 501)
Movement in balances held with Central Treasury*		(8 719)	(128 335)	–	–
Net cash from investing activities*		(453 539)	(785 490)	36 247	22 877
Cash flows from financing activities
Repayment of capital portion on lease liabilities		(1 150)	(3 186)	–	–
Dividends		(300 035)	(1 049 633)	(299 895)	(1 049 633)
Net cash from financing activities		(301 185)	(1 052 819)	(299 895)	(1 049 633)
Total cash movement for the year*		(144 924)	(94 180)	(314)	948
Cash at the beginning of the year*		602 730	696 910	2 680	1 732
Total cash at the end of the year*	14	457 806	602 730	2 366	2 680

*	Restated. Refer to note 41.