ANNUAL Report June 2022 Consolidated Statement of Cash Flows 21 Consolidated Statement of Cash Flows For the Year ended 30 June 2022 Note 2022 $ 2021 $ Cash Flows from Operating Activities Proceeds from sales to customers 4,809,948 4,690,563 Proceeds from R & D tax offset 1,501,199 610,106 Proceeds from diesel fuel rebate 229,063 151,257 Proceeds from grants 451,000 - Proceeds from government COVID-19 relief packages - 77,436 Proceeds from other sources 44,436 8,100 Payment to suppliers and employees (10,120,348) (9,353,465) Interest paid (4,185) (9,684) Interest paid for lease liabilities (25,278) (879) Interest received 1,395 9,844 Net Cash Flows Used in Operating Activities 21(a) (3,112,770) (3,816,722) Cash Flows from Investing Activities Payments for the purchase of plant and equipment (3,350,052) (1,221,800) Payments for the capitalised exploration and evaluation expenditure (3,098,868) (835,667) Proceeds from the sale or disposal of plant and equipment - 16,500 Proceeds from release of other security deposits 4,100 - Payments for the purchase of tenements - - Payments / proceeds for tenement security deposits 255 7,262 Net Cash Flows Used in Investing Activities (6,444,565) (2,033,705) Cash Flows from Financing Activities Proceeds from the issue of shares - 6,500,000 Proceeds from the issue of convertible notes 6,000,000 - Payments for share / convertible note issue costs (302,422) (418,343) Proceeds from short-term loan facilities 1,500,000 - Payments for lease liabilities (93,729) (9,644) Proceeds from offtake advance extension 689,266 - Proceeds from working capital loan (unincorporated joint venture) - 1,860 Proceeds from prepayments for sales of concentrate and quarry materials - 312,973 Net Cash Flows from Financing Activities 7,793,115 6,386,846 Net (decrease)/increase in cash held (1,764,220) 536,419 Add opening cash brought forward 3,504,721 2,989,859 Effect of movement in exchange rates on cash held (17,075) (21,557) Closing Cash Carried Forward 21(b) 1,723,426 3,504,721 Consolidated Statement of Cash Flows For the year ended 30 June 2022 52 EQ Resources Limited Annual Report 2022
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