Statement of consolidated cash flows
FOR THE
YEAR ENDED 31 DECEMBER 2005
Randgold Resources Annual Report 2005 47
Group
Group
31 Dec
31 Dec
US$000
Note
2005
2004
CASH FLOW FROM OPERATING ACTIVITIES
Profit before income tax
45
222 18 793
Net interest (received)/paid
(203)
590
Depreciation and amortisation
11
910 8 738
Transfer from/(to) deferred stripping
11 198
(3 999)
Gain on forward gold sales
(45) (1
085)
Unwind of discount on provisions for environmental rehabilitation
254 177
Share-based payment
2 247 1
321
Profit on sale of Syama
- (7
070)
70 583 17
465
Effects of changes in operating working capital items:
receivables
(12 101)
(9 369)
inventories and ore stockpiles
(42 963)
(7 487)
accounts payable and accrued liabilities
14 404
4 272
Cash generated from operations before interest
29 923
4 881
Interest received
2 064 1
033
Interest paid
(1 861)
(1 623)
Income tax paid
(390) -
Net cash generated from operating activities
29 736
4 291
CASH FLOW FROM INVESTING ACTIVITIES
Additions to property, plant and equipment*
(73 217)
(68 545)
Financing of contractors
Movement in restricted cash
- 3
882
Disposal of Syama - net of cash disposed
- 8
571
Net cash used by investing activities
(84 493)
(56 985)
CASH FLOW FROM FINANCING ACTIVITIES
Ordinary shares issued
105 248
2 133
Long term loans repaid
(1 156)
(11 674)
Long term loans received*
24 877
35 000
Cash generated from financing activities
128 969
25 459
NET INCREASE/(DECREASE) IN CASH AND EQUIVALENTS
74 212
(27 235)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
78 240
105 475
CASH AND CASH EQUIVALENTS AT END OF YEAR
152 452
78 240
Cash at bank and in hand
15 353
9 611
Short term bank deposits
137 099
68 629
152 452
78 240
The effective
interest rate on short term bank deposits was 2.77% (2004: 1.28%). These deposits
have an
average maturity
of thirty days.
* Excluded from these items is the Loulo power plant acquired under a finance lease agreement of US$6.8 million.
