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Note 6. Income TaxNote 8. Trade And Other Receivables


Cash at bank and in hand 27.6 13.5
Short-term bank deposits 89.8 334.4
Total cash and cash equivalents 117.4 347.9

Total cash and cash equivalents includes US$19.5M restricted for use in respect of the LHM and KM project finance facilities (refer to Note 16).

Cash at bank earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.

(a) Reconciliation of Net Loss After Tax to Net Cash Flows Used in Operating Activities

Net loss (88.5) (46.5)
Adjustments for
Depreciation and amortisation 37.1 20.9
Loss recognised on re-measurement to fair value 4.6 0.2
(Gain)/Loss on disposal of investments (1.8) 0.8
Database licence revenue (0.2) (0.2)
Net exchange differences 6.0 5.2
Share-based payments 11.6 10.3
Non-cash financing costs 20.2 15.7
Inventory impairment 26.4 -
Asset impairment - 2.9
Interest capitalised as property, plant and equipment - (29.4)
Loss on disposal of property, plant and equipment 0.9 -
Changes in assets and liabilities
Decrease/(increase) in prepayments 0.2 (2.0)
Decrease/(increase) in trade and other receivables 9.5 (4.0)
Decrease in trade and other payables (11.3) (32.7)
Increase in provisions 0.5 3.4
Increase in inventories (106.9) (11.4)
Increase in deferred tax liabilities 5.3 32.5
Increase in deferred tax assets (15.6) (0.2)
Net cash flows used in operating activities (102.0) (34.5)

(b) Disclosure of Financing Facilities

Refer to Note 16.

© 2011Paladin Energy Ltd
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