Speciality Metals International Limited Annual Report 2020

Speciality Metals International Limited Annual Report 2020 35 Page | 36 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2020 2020 2019 Note $ $ CASH FLOWS FROM OPERATING ACTIVITIES Proceeds from sales to customers 651,494 - Proceeds from R & D tax offset 203,427 - Proceeds from diesel fuel rebate 15,676 9,883 Proceeds from Government COVID-19 relief packages 60,000 - Payment to suppliers and employees (3,865,957) (1,659,865) Interest paid (23,002) - Interest paid for lease liabilities (855) - Interest received 10,896 22,855 NET CASH FLOWS USED IN OPERATING ACTIVITIES 21(a) (2,948,321) (1,627,127) CASH FLOWS FROM INVESTING ACTIVITIES Payments for the purchase of plant and equipment (2,223,308) (12,837) Payments for the purchase of Mt Carbine Quarries Pty Ltd - (7,330,000) Proceeds from the sale or disposal of plant and equipment - 424,869 Payments for the purchase of tenements (1,502) - Payments for tenement security deposits (309,047) (1,000) Proceeds from the release of other security deposits - 3,248 NET CASH FLOWS USED IN INVESTING ACTIVITIES (2,533,857) (6,915,720) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from the issue of shares 7,503,491 4,248,166 Payments for share issue costs (554,456) (113,853) Proceeds from long-term loan facilities 1,175,036 - Payments for lease liabilities (7,037) Proceeds from short-term loan facilities - 200,000 Payment of short-term loan (200,000) - Proceeds from working capital loan (unincorporated joint venture) 330,718 Proceeds from Mt Carbine sublease rent received in advance - 3,823,821 NET CASH FLOWS FROM FINANCING ACTIVITIES 8,247,752 8,158,134 Net (decrease)/increase in cash held 2,765,574 (384,713) Add opening cash brought forward 217,962 602,675 Effect of movement in exchange rates on cash held 6,323 - CLOSING CASH CARRIED FORWARD 21(b) 2,989,859 217,962 Consolidated Statement of Cash Flows For the year ended 30 June 2020