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57<br />
NORTHERN MINERALS LIMITED<br />
CONSOLIDATED STATEMENT OF CASH FLOWS<br />
AS AT 30 June 2021<br />
NOTE 2021<br />
$<br />
<strong>2020</strong><br />
$<br />
Cash flows from operating activities<br />
Receipts from customers 372,683 2,661,735<br />
Payments to suppliers and employees (21,065,851) (29,732,767)<br />
Interest paid (1,898,349) (1,218,134)<br />
Research & development rebate on eligible expenditure 20,473,002 (4,401,712)<br />
Other income received 1,233,502 934,564<br />
Net cash outflow from operating activities 12(a) (885,013) (31,756,314)<br />
Cash flows from investing activities<br />
Payments for property, plant and equipment (7,634,379) (15,844,542)<br />
Increase in security deposits (13,525) -<br />
Net cash outflow from investing activities (7,647,904) (15,844,542)<br />
Cash flows from financing activities<br />
Proceeds from issues of shares 27,650,000 55,522,026<br />
Proceeds from issue of convertible notes - 2,625,000<br />
Repayment of convertible notes (4,000,000) -<br />
Share issue costs (1,681,015) (3,708,166)<br />
Proceeds from borrowings 496,662 -<br />
Repayment of borrowings (647,298) (8,286,566)<br />
Net cash inflow from financing activities 21,818,349 46,152,294<br />
Net (decrease) / increase in cash and cash equivalents 13,285,432 (1,448,562)<br />
Cash and cash equivalents at beginning of the financial<br />
6,660,568 8,140,422<br />
year<br />
Effects of exchange rate changes on cash and cash<br />
equivalents (48,580) (31,292)<br />
Cash and cash equivalents at the end of the financial 8(a)<br />
year<br />
19,897,420 6,660,568<br />
The above consolidated statement of cash flows should be read in conjunction with the accompanying<br />
notes..<br />
25<br />
NORTHERN MINERALS _ ANNUAL REPORT 2021
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