Liquidity and capital resources the following table

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Unformatted text preview: ntinuing operations used in investing activities (a) Of continuing operations provided from 1,302.9 $ (2,361.9) financing activities (a) Of discontinued operations 1 ,378.8 $ (6%) (641.4) (1,720.5) (75.9) (37%) 774.8 6 36.9 1 37.9 22% 1 50.7 7 .7 1 43.0 nm 3 .9 111% Effect of exchange rate changes on cash and cash equivalents of continuing operations (a) 0.4 Increase (decrease) in cash and cash equivalents (133.1) Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period (3.5) 2 99.4 1 ,766.0 $ 1,632.9 (432.5) 1 ,466.6 $ 1 ,766.0 (144%) 2 99.4 $ 20% (133.1) (8%) (a) The comparative figures have been recast to exclude Crixás results due to its disposal on June 28, 2012. (b) "nm" means not meaningful. Cash and cash equivalent balances decreased by $133.1 million in 2012, compared with an increase of $299.4 million in 2011. Detailed discussions regarding cash flow movements are noted below. Operating Activities 2012 vs. 2011 During 2012, net cash flow of continuing operations provided from operating activities was $75.9 million lower than in 2011, with the decrease largely due to higher exploration expense and less favourable working capital changes in 2012 compared with 2011, partially offset by an increase in margins (metal sales less production cost of sales), and cash payments made during 2011 on the close out and early settlement of gold and silver derivative instruments, with no such payments made in 2012. Investing Activities 2012 vs. 2011 Cash used in investing activities of continuing operations was $2,361.9 million compared with $1,720.5 million in 2011. During 2012, the primary uses of cash were for investment in property, plant and equipment of $1,924.7 million, additions to short-term investments of $348.5 million, and additions to long-term investments and other assets of $106.3 million. The primary uses of cash in 2011 were for investment in property, plant and equipment of $1,629.2 million and additions to long-term investments and o...
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