Page 63 - Sundance Resources 2014 Annual Report

SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2014 61
CONSOLIDATED STATEMENT
OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2014
Notes 2014
$
2013
$
CASH FLOWS FROM OPERATING ACTIVITIES
Payments to suppliers & employees (20,010,791) (21,099,592)
Interest received 727,478 1,673,938
Interest paid (1,061,284) (33,473)
Net Cash Used In Operating Activities 9 (20,344,597) (19,459,127)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant & equipment (157,345) (531,875)
Exploration and development expenditure (22,960,179) (25,528,678)
Net Cash Used In Investing Activities (23,117,524) (26,060,553)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from equity issues - 1,161,790
Share issue expenses - (113,051)
Proceeds from the issue of Convertible Notes 6(c) 40,000,000 5,000,000
Convertible Note issue expenses (1,796,795) -
Net Cash Generated By Financing Activities 38,203,205 6,048,739
Net Decrease in Cash Held (5,258,916) (39,470,941)
Cash and cash equivalents at beginning of year 19,629,458 59,070,799
Effect of exchange rates on cash and cash equivalents 7,143 29,600
Cash and cash equivalents at end of Year 6(a) 14,377,685 19,629,458
The accompanying notes form part of these financial statements