BISICHI MINING PLC ANNUAL REPORT 2017

Financial statements
Consolidated cash flow statement
for the year ended 31 December 2017
Year ended
31 December
2017
£’000
Year ended
31 December
2016
£’000
Cash flows from operating activities
Operating profit 3,763 637
Adjustments for:
Depreciation 1,790 1,785
Share based payments - 109
Unrealised loss/(gain) on investment properties 13 (445)
Realised gain on disposal of other investments (3) -
Unrealised gain on other investments - (12)
Exchange adjustments 256 (449)
Cash flow before working capital 5,819 1,625
Change in inventories 896 (258)
Change in trade and other receivables 919 224
Change in trade and other payables 69 1,396
Cash generated from operations 7,703 2,987
Interest received 124 121
Interest paid (546) (448)
Income tax paid (11) (46)
Cash flow from operating activities 7,270 2,614
Cash flows from investing activities
Acquisition of reserves, property, plant and equipment (1,754) (2,859)
Share of income from joint ventures - 30
Disposal of other investments 14 -
Acquisition of available for sale investments (196) -
Disposal of non-current asset held for sale - 1,138
Cash flow from investing activities (1,936) (1,691)
Cash flows from financing activities
Borrowings drawn 23 37
Borrowings repaid (25) (131)
Equity dividends paid (427) (427)
Cash flow from financing activities (429) (521)
Net increase in cash and cash equivalents 4,905 402
Cash and cash equivalents at 1 January (890) (626)
Exchange adjustment 50 (666)
Cash and cash equivalents at 31 December 4,065 (890)
Cash and cash equivalents at 31 December comprise:
Cash and cash equivalents as presented in the balance sheet 5,327 2,444
Bank overdrafts (secured) (1,262) (3,334)
4,065 (890)
Bisichi Mining PLC
59