IGO Interactive Annual Report 2019

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2019 Notes to the consolidated financial statements 30 June 2019 (continued) Working Capital and Provisions This section of the notes provides further information about the Group's working capital and provisions, including accounting policies and key judgements and estimates relevant to understanding these items. 7 Cash and cash equivalents 2019 $'000 2018 $'000 Cash at bank and in hand 108,178 138,658 Deposits at call 240,030 30 348,208 138,688 The Group has cash balances of $1,633,000 (2018: $1,864,000) not generally available for use as the balances are held by the Tropicana Joint Venture and may only be used in relation to joint venture expenditure. The Group's exposure to interest rate risk and a sensitivity analysis for financial assets and liabilities are disclosed in note 21. (a) Reconciliation of profit after income tax to net cash inflow from operating activities 2019 $'000 2018 $'000 Profit for the period 76,085 52,686 Depreciation and amortisation 237,118 252,133 Net gain on sale of non-current assets (2,636) (148) Fair value of movement of financial investments 6,915 (231) Non-cash employee benefits expense - share-based payments 3,123 3,267 Gain on disposal of subsidiaries (2,587) (2,541) Amortisation of borrowing expenses 916 916 Amortisation of lease incentive (79) (78) Foreign exchange (gains) losses on cash balances (784) 999 Change in fair value measurement of receivables (1,574) - Change in operating assets and liabilities: Decrease (increase) in trade receivables 25,371 (26,912) (Increase) in inventories (7,375) (49,692) Decrease in deferred tax assets 24,204 23,404 Decrease (increase) in other operating receivables and prepayments 9,855 (8,152) (Increase) in derivative financial instruments - (29) (Decrease) increase in trade and other payables (2,080) 34,135 Increase in deferred tax liabilities 5,159 2,976 Increase (decrease) in other provisions 679 (4,928) Net cash inflow from operating activities 372,310 277,805 (b) Non-cash investing and financing activities During the current year, the Company issued 3,095,408 shares totalling $15,725,000 for the acquisition of the Southern Hills tenements (refer note 17(b)). The Company also received 7,777,778 shares in Mincor Resources NL totalling $3,500,000 relating to the sale of the Long Operation during the year (refer to Note 22(b)). There were no other non-cash investing and financing activities during the current or previous year. Independence Group NL 13 IGO ANNUAL REPORT 2019 — 83