23
Consolidated cash flow statement
Year ended 31 December
Three months ended
31 March
($ thousands)
2011
2012
2013
2013
2014
Profit/(loss) for the year ....................................
34,764
44,964
(258,630)
9,079
18,888
Adjustment for:
Share in results of joint venture
(1,119)
(3,052)
(1,543)
(386)
(1,075)
Depreciation, depletion and
amortisation ................................................
34,004
53,444
82,657
20,548
21,296
Exploration expenditure written off ............
-
3,680
47,822
-
-
Net impairment losses .................................
-
-
1,801
-
-
Impairment charge on discontinued operations
.....................................................................
8,520
26,031
236,940
-
-
Other non-cash items included in discontinued
operations.....................................................
927
245
50,669
(1,033)
500
Tax charge....................................................
8,731
1,953
8,097
2,032
2,100
(Gain)/loss on held for trading
derivative .....................................................
75
(266)
(322)
(79)
(81)
Fair value loss on convertible loans .............
-
4,528
12,071
2,899
3,016
Loss on sale of other assets ..........................
1
295
-
-
-
Loss on disposal of oil & gas assets.............
55
120
-
-
-
Finance costs................................................
7,749
1,157
10,068
2,446
1,351
Interest income.............................................
(197)
(138)
(527)
(87)
(115)
Reversal of account payable ........................
-
(2,675)
-
-
-
Share-based compensation expense ............
1,230
742
-
-
-
Provision for retirement benefit
obligation ....................................................
413
364
826
496
1,926
Operating cash flow before movement in
working capital
...............................................
95,153
131,392
189,929
35,915
47,806
Decrease/(increase) in trade and other receivables
..........................................................................
(86,135)
(38,569)
36,400
28,122
(24,342)
Increase in inventories .....................................
-
(372)
3,024
6,995
10,134
(Decrease)/increase in trade and other payables
..........................................................................
2,439
5,019
17,905
18,611
1,431
Tax paid ............................................................
(499)
(8,585)
(7,496)
-
-
Net cash generated by operating activities
..
10,958
88,885
239,762
89,643
35,029
Cash flows from investing activities
Purchase of intangible exploration and evaluation
assets ................................................................
(31,677)
(35,248)
(78,358)
(39,930)
(8,306)
Purchase of property, plant and equipment ......
(52,448)
(57,301)
(83,712)
(23,253)
(25,656)
Increase/(decrease) in producing inventory stores
1,435
(3,252)
790
(2,753)
(430)
