2021 Annual Report

Notes to the consolidated financial statements 30 June 2021 (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 2021 $'000 2020 $'000 Cash at bank and in hand 528,514 490,312 Deposits at call - 20,000 528,514 510,312 All cash balances are available for use by the Group. In the prior year, cash balances of $7,396,000 were not generally available for use as the balances were held by the Tropicana Joint Venture and could 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 22. (a) Reconciliation of profit after income tax to net cash inflow from operating activities 2021 $'000 2020 $'000 Profit for the period 548,661 155,093 Adjustments for: Depreciation and amortisation 227,336 243,633 Impairment of exploration and evaluation expenditure - 1,018 Net gain on sale of non-current assets (26) (3,494) Fair value of movement of financial investments (9,958) (33,207) Non-cash employee benefits expense - share-based payments 4,917 4,489 Gain on disposal of joint venture (556,823) - Net exchange differences (530) - Amortisation of borrowing expenses 208 919 Amortisation of lease incentive (65) (78) Foreign exchange (gains)/losses on cash balances (4,125) 3,110 Change in fair value measurement of receivables (541) (1,065) Change in operating assets and liabilities: Increase in trade receivables (29,214) (21,215) Decrease/(increase) in inventories 9,054 (20,713) Decrease in deferred tax assets 94,013 60,503 Increase in other operating receivables and prepayments (2,177) (116) Increase in trade and other payables 24,388 1,120 Increase in income taxes payable 171,952 - (Decrease)/increase in deferred tax liabilities (33,952) 3,916 Increase in other provisions 2,934 3,604 Net cash inflow from operating activities 446,052 397,517 (b) Non-cash investing and financing activities During the current year, the Group had acquisitions of right-of-use assets totalling $1,028,000 (2020: $12,577,000). IGO Limited 21 Notes to The Consolidated Financial Statements 30 June 2021 IGO ANNUAL REPORT 2021 — 91