Consolidated Statement of Cashflows
| US$ million |
Notes |
2011 |
2010 |
| Profit before taxation for the year from continuing operations |
|
64.4 |
69.0 |
| Depreciation of property, plant and equipment – exploration |
|
0.1 |
0.1 |
| Depreciation of property, plant and equipment – mining |
|
22.2 |
11.6 |
| Depreciation of property, plant and equipment – other |
|
0.1 |
0.2 |
| Amortisation of intangible assets |
|
— |
1.0 |
| Reversal of impairment |
|
(11.7) |
— |
| Impairment |
|
5.2 |
— |
| Profit on sale of Kono project |
|
— |
(0.8) |
| Loss/(profit) on sale of property, plant and equipment |
|
0.3 |
(3.7) |
| Recycling of foreign exchange differences on exploration projects |
|
— |
(12.3) |
| Release of fair value uplift on sales of inventory acquired through second 50% acquisition of CIHL |
|
— |
26.4 |
| Fair value uplift on acquisition of additional 50% of CIHL |
|
— |
(31.0) |
| (Increase)/decrease in provisions |
|
1.4 |
(2.1) |
| Finance income |
|
(7.7) |
(7.8) |
| Finance expense |
|
11.5 |
12.6 |
| Share based payment provision |
|
1.9 |
0.9 |
| Payments for share options cancelled |
|
(0.8) |
— |
| Foreign exchange gain |
10 |
(18.9) |
(5.1) |
| Operating profit before working capital changes |
|
68.0 |
59.0 |
| Increase in trade and other receivables |
|
(24.8) |
(0.3) |
| Increase in trade and other payables |
|
12.5 |
4.6 |
| Increase in inventories |
|
(3.5) |
(11.2) |
| Cash generated from operations |
|
52.2 |
52.1 |
| Finance expense |
|
(1.2) |
(1.6) |
| Taxation paid |
|
(0.4) |
(1.7) |
| Net cash generated from operating activities |
|
50.6 |
48.8 |
| Cashflows from financing activities |
|
|
|
| Proceeds from sale of property, plant and equipment |
|
0.1 |
3.9 |
| Cash acquired with acquisition of subsidiary |
|
— |
0.4 |
| Acquisition of assets at Kimberley Underground net of cash |
|
0.3 |
(2.0) |
| Acquisition of assets at Kimberley Underground pre-acquisition |
|
— |
(16.6) |
| Acquisition of 4% interest in Koffiefontein |
3 |
(0.8) |
— |
| Finance income |
|
2.2 |
0.4 |
| Acquisition of property, plant and equipment |
|
(105.2) |
(33.4) |
| Loans advanced to BEE partners |
|
(8.7) |
— |
| Transfer to restricted cash deposits |
|
(218.3) |
(5.3) |
| Net cash utilised in investing activities |
|
(330.4) |
(52.6) |
| Cashflows from financing activities |
|
|
|
| Proceeds from the issuance of share capital |
|
339.1 |
120.1 |
| Payment of share placing costs |
|
(17.6) |
(6.6) |
| Increase in non-current borrowings |
|
75.6 |
— |
| Repayment of non-current borrowings |
|
(15.0) |
(43.8) |
| Repayment of current borrowings |
|
(32.3) |
(48.0) |
| Net cash generated from financing activities |
|
349.8 |
21.7 |
| Net increase in cash and cash equivalents |
|
70.0 |
17.9 |
| Cash and cash equivalents at beginning of the year |
|
24.8 |
6.7 |
| Effect of exchange rate fluctuations on cash held |
|
2.1 |
0.2 |
| Cash and cash equivalents at end of the year |
|
96.9 |
24.8 |
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