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Due to losses carried forward, the amount of tax that would have been paid if these assets were to be sold at market value at balance date is nil. 

At balance date, securities were held in the following listed entities: 

(1) The consolidated entity held nil shares in Dioro Exploration NL at 30 June 2004 (2003: 44,400,000). All of the 44,400,000 shares were sold on 3 July 2003 realising net proceeds of $4,984,000. 

(2) NuStar Mining Corporation Limited. The consolidated entity held 542,719,338 fully paid ordinary shares (2003:190,719,338). 

(3) The consolidated entity held 15,650,000 shares in Strata Mining Corporation Ltd (“Strata”), a listed entity (2003: nil). At 30 June 2004 the investment was written down to market value. Mr S W Miller was a director of Strata during the fi  nancial year. 

