content_image/115971.jpg
<img src='content_image/115971.jpg'>

(a) During the 2004 financial year, RML repaid RMB Resources Ltd, a unit of Rand Merchant Bank the outstanding US$5.5m. Refer to Note 6(a) for the corresponding receipt from MDN. 

The balance outstanding at year end represents the current portion of the US$7.73m and A$10m facility provided by NM Rothschild & Sons during the March 2004 quarter to partially fund the US$45m acquisition of the Ravenswood Gold Mine. The debt is repayable in 10 equal quarterly instalments commencing on 31 March 2005 and finishing on 30 June 2007. 

The security over the loan comprises the following: 

(i) fixed and floating charges over all of the current and future assets of Carpentaria Gold Pty Ltd (“CG Pty Ltd”), including the project, bank accounts, hedging contracts and material ongoing agreements; 

(ii) mortgage over RML’s shares in CG Pty Ltd; 

(iii) mortgages over CG Pty Ltd’s key mining tenements; 

(iv) assignment of rights under insurance policies; and 

(v) tripartite agreements covering material project operating agreements. 

Once a Completion Test has been achieved, the facilities will be assigned by RML to CG Pty Ltd and become project recourse. 

Subsequent to year end, NM Rothschild & Sons passed on 50% of the above mentioned facilities to ABN AMRO Bank N.V. 

## NOTE 17 - TAX LIABILITIES (CURRENT) 

Provision for income tax 

1,491 - - - 

