Note 2023 $ 2022 $ Cash flows from to/from operating activities Payments to suppliers and employees (1,982,480) (1,576,244) Proceeds from sale of shares 8 – 4,606,706 Interest paid (9,064) (13,109) Interest received 238,186 11,117 Net cash outflow from operating activities 16 (1,753,358) 3,028,470 Cash flows to/from investing activities Proceeds from/(payments for) plant and equipment (44,844) (41,108) Exploration and evaluation expenditure (25,056,126) (18,680,032) Net cash acquired with subsidiary – 149,051 Proceeds from sale of subsidiary 8 – 459,900 Proceeds from sale of shares 8 1,913,889 5,598,495 Net cash used in investing activities (23,187,081) (12,513,694) Cash flows to/from financing activities Proceeds from issue of securities 13(b) 12,000,000 22,440,000 Costs of share issues 13(b) (653,212) (1,104,361) Principal paid on lease liabilities (39,901) (35,900) Net cash provided by financing activities 11,306,887 21,299,739 Net increase/(decrease) in cash (13,633,552) 11,814,515 Effect of exchange rate fluctuations on cash held (57,124) 11,467 Cash and cash equivalents at the beginning of the financial year 23,997,222 12,171,240 Cash at the end of the financial year 10,306,546 23,997,222 The Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes. Consolidated Statement of Cash Flows for the year ended 30 June 2023 37 Sunstone Metals Limited Annual Report 2023
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