20974 29Metals AR23 WEB V1 - Flipbook - Page 106
102
29Metals 2023 Annual Report
Directors’ Report continued
27
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
Directors’ Report
Operating and Financial Review
split of
y reporta le segment is ta led elo
For the year ended 31 December
2023
Golden Gro e
$ 000
apricorn opper
$ 000
ploration orporate and ther
0
2022
VAR
0
0 )
)
$ 000
)
)
)
0 )
$ 000
is a non
financial information metric
efer to page
for important information regarding the use of non
financial information metrics in this report
Derivative Financial Instruments
uring the eporting eriod the Group continued to cash settle outstanding pre
gold hedges at
ecem er 0
as a lia ility of $ 0 000
ec 0
increase in the gold price in
terms
emaining gold hedges
summarised elo
ill cash settle o er the period to cto er 0
$
commodity hedges for gold he fair alue of the outstanding pre
000 lia ility) ith the increase in the amount reflecting the
he olume and pricing of outstanding gold hedges at
Outstanding Gold Hedges
ecem er 0
Ounces
is
$/ounce
an ec 0
0 00
0
an ct 0
0
0
Cashflows
2023
2022
VAR
$’000
)
0
)
used in) in esting acti ities
$’000
)
used in) from financing acti ities
$’000
ffects of mo ements in e change rates on cash held
$’000
ash and cash e ui alents at the eginning of the eporting eriod
$’000
For the year ended 31 December
ashflo
used in) from operating acti ities
ashflo
ashflo
)
)
$’000
0
0
)
0
)
0)
$’000
0 0
o er cashflo s from operating acti ities primarily reflect the com ined impacts of lo er production and lo er metal prices together ith cash outflo s
in relation to reco ery acti ities follo ing the treme eather ent at apricorn opper
ashflo s from operating acti ities includes the initial unallocated progress payment of $
damage suffered resulting from the treme eather ent
inancing cashflo s include net proceeds of $
capital facility partly offset y payments for
0
000 000 under the insurance claim in relation to the loss and
000 deri ed from the ntitlement ffer and dra do n of the Group’s $ 0 000 000 or ing
lease lia ilities and net interest and principal payments under the Group’s de t facilities
Net Drawn Debt and Total Liquidity
etals repaid $ 000 000 $
000) of principal against the Group’s term loan facility during the eporting eriod reducing the dra n amount
to $ 0 000 000 at
ec 0
0
$
000 000) ra n e t at
ec 0 includes $ 0 000 000 from the Group’s or ing capital facility
dra n do n during the eporting eriod
Net Drawn Debt 1
erm loan facility
or ing capital facility
nsurance premium funding
31-Dec-2023
$ 000
31-Dec-2022
)
$ 000
$ 000
VAR
0
0
00
0
00
$ 000
ash and cash e ui alents
$ 000
0 0 )
$ 000
US$
US$’000
and
are non
financial information metrics efer to page
metrics in this report
cludes cash alances set aside for rental security deposits and
proceeds retained y
inancial eport for further information regarding the ash ac ed ndemnity eed
27
for important information regarding the use of non
etals under the ash ac ed ndemnity eed
financial information
efer to ote
of the nnual
