Summarised consolidated statements of cash flows

 

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	For the year ended
	31 December  2021  Audited  R'000	31 December  2020  Audited  R'000
Profit/(loss) before tax	2 326 735	(1 345 752)
Depreciation and amortisation	111 185	153 361
Impairment	5 824	1 365 962
Finance income	(13 572)	(6 517)
Finance expense	2 502	1 713
Share-based payment expense/(credit)	8 868	(649)
Share grants exercised	(1 231)	(582)
Fair value adjustment on provisionally priced revenue	(27 807)	(5 614)
Movement in rehabilitation provision	18 547	(163 686)
Movement in long-term receivable	538	2 630
Profit on sale of assets	(116)	(167)
Unicorn fair value adjustment	–	1 936
Income from equity accounted investment	(614)	(860)
Net realisable value inventory adjustment	24 411	13 583
Effect of exchange rate fluctuations	(213 400)	87 908
Other non-cash movements	1 329	(3 006)
Adjusted for working capital changes	(665 655)	390 521
Cash generated from operating activities	1 577 544	490 782
Interest paid	(2 123)	(1 617)
Interest received	(11 615)	6 156
Taxation paid	(431 112)	(15)
Net cash generated from operating activities	1 155 924	495 306
Proceeds from sale of property, plant and equipment	366	169
Sustaining capital expenditure	(448 149)	(333 676)
Expansionary capital expenditure	(42 086)	(9 310)
Acquisition of an interest in a joint operation	–	(33 124)
Net cash utilised in investing activities	(489 869)	(375 941)
Payment for repurchase of shares	(5 774)	–
Costs incurred for the repurchase of shares	(32)	–
Dividends paid	(174 939)	(100 428)
Repayment of capital portion of lease liabilities	(4 210)	(7 581)
Net cash utilised in financing activities	(184 955)	(108 009)
Total cash movement for the year	481 100	11 356
Cash and cash equivalents at 1 January	277 629	354 181
Effect of foreign exchange rate changes	213 400	(87 908)
Total cash at the end of the year	972 129	277 629