Speciality Metals International Limited Annual Report 2019

Page | 33 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2019 2019 2018 Note $ $ CASH FLOWS FROM OPERATING ACTIVITIES Payment to suppliers and employees (1,659,865) (1,405,253) R & D Tax concession offset received - - Diesel fuel rebate 9,883 5,074 Interest paid - - Interest received 22,855 31,412 NET CASH FLOWS USED IN OPERATING ACTIVITIES 19(a) (1,627,127) (1,368,767) CASH FLOWS FROM INVESTING ACTIVITIES Payments for the purchase of plant and equipment (12,837) (2,614) Payments for the purchase of Mt Carbine Quarries Pty Ltd (7,330,000) (800,000) Proceeds from the sale or disposal of plant and equipment 424,869 12,727 Payments for the purchase of tenements - Payments for tenement security deposits (1,000) (25,300) Proceeds from the release of other security deposits 3,248 498 NET CASH FLOWS USED IN INVESTING ACTIVITIES (6,915,720) (814,689) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from the issue of shares 4,248,166 1,847,746 Payments for share issue costs (113,853) (109,615) Proceeds from Short-term loan 200,000 - Proceeds from Mt Carbine sublease rent received in advance 3,823,821 - NET CASH FLOWS FROM FINANCING ACTIVITIES 8,158,134 1,738,131 Net (decrease)/increase in cash held (384,713) (445,325) Add opening cash brought forward 602,675 1,048,000 CLOSING CASH CARRIED FORWARD 19(b) 217,962 602,675