Notes to the Financial Statements
98
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25.  Reconciliation of profit after income tax to net cash flow  
from operating activities
2013 
$’000
2012 
$’000
(Loss) / profit for the year (323,726) 75,006
Depreciation and amortisation 85,595 67,553
Share-based payments 917 -
Gain on disposal of property, plant and equipment 70 (35)
Impairment 332,808 1,933
Unwind of discount rate for provision 1,017 390
Loss on sale of exploration assets 16,709 -
Amortisation of deferred borrowing costs 7,594 503
Unrealised (gains) / losses (559) 685
Share of associate’s loss 1,353 -
Net exchange differences 2,253 2,577
Change in operating assets and liabilities
(Increase) / decrease in receivables 5,644 (8,767)
(Increase) / decrease in prepayments (85) 6,938
(Increase) / decrease in inventories (8,930) 12,166
(Increase) / decrease in deferred tax asset - 50
(Increase) / decrease in other operating assets (2,250) ( 7,089)
Increase / ( decrease) in current tax liabilities (11,792) 8,702
Increase / ( decrease) in creditors (3,181) 3,386
Increase / ( decrease) in provisions 1,143 841
Increase / ( decrease) in deferred tax liabilities (19,560) 408
Net cash inflow from operating activities 85,020 165,247
26. Events occurring after reporting date
Subsequent to the end of the financial year, the Group has received from its lenders a credit approved term sheet (subject to formal documentation) for the 
restructure of the corporate loan and convertible loan facilities. Following completion of the restructure the total amount outstanding will be reduced to 
$40,000,000. This loan will be provided through a single senior corporate facility which will consist of two tranches:
〉〉 Tranche one will be a $25,000,000 Akara Pre IPO Bond with a maturity date of 31 July 2015. The current intention is for this tranche to be repaid as part 
of the Akara IPO although at Kingsgate’s election repayment can be made by either cash or in Kingsgate’s shares.
〉〉 Tranche two is an amortising facility with $5,000,000 to be repaid during the 2014 financial year and the balance of $10,000,000 repaid during the 2015 
financial year.
Subsequent to year-end the Group forward sold 50,000 ounces of gold over a 12 month period at an average price of A$1,435 per ounce to manage 
Australian gold price risk associated with forecast production from the Challenger Mine.
Kingsgate’s Thai subsidiary, Akara Resources Public Company Limited (“Akara”) has submitted its listing application and draft Prospectus to the Thai 
Securities Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) for an initial public offering of its shares on the SET.
The SEC and SET will review the draft Prospectus in the coming months in order to approve the listing of Akara. The decision to list Akara will depend on 
market conditions and other factors at the time of approval.
No other matter or circumstance has arisen since 30 June 2013 that has significantly affected, or may significantly affect:
〉〉 the Group’s operations in future financial years, or
〉〉 the results of those operations in future financial years, or
〉〉 the Group’s state of affairs in future financial years.