Cash Flow Statement

Cash Flow Statement

for the year ended 31 December 2016
.
2016 (€'000)
2015 (€'000)
Cash flows from operating activities
Loss before tax for the year
(20,546)
(24,137)
Adjustment for:
Depletion and depreciation
66
34
Amortisation for intangible assets
104
17
Impairment of exploration and evaluation assets
15,095
5,787
Finance income
(39)
(34)
Finance expense
1,741
11,091
Equity settled share payment charge
142
-
Foreign exchange
1,113
(2,684)
Change in trade and other receivables
1,919
(287)
Change in trade and other payables
(10,585)
(521)
Interest paid
(1,266)
(4,204)
Net cash outflow from operating activities
(12,256)
(14,938)
Cash flows from investing activities
Interest received
39
34
Acquisition of exploration and evaluation assets
(3,982)
(7,746)
Acquisition of property, plant and equipment
-
(484)
Movement in restricted cash
-
3,296
Net cash used in investing activities
(3,943)
(4,900)
Cash flows from financing activities
Proceeds from issue of share capital
61,202
25,754
Issued costs
(416)
(1,443)
Repayment of loans and borrowings
(19,633)
(3,671)
Net cash from financing activities
41,153
20,640
Net increase in cash and cash equivalents
24,954
802
Cash and cash equivalents at 1 January
6,518
5,256
Effect of exchange rate fluctuations on cash and cash equivalents
(69)
460
Cash and cash equivalents at 31 December
31,403
6,518