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## NOTE 29 - CONTROLLED ENTITIES (continued) 

(a) Pursuant to a class order and an assumption deed dated 4 June 1996, relief has been granted to this controlled entity of Resolute Limited from the Corporations Act 2001 requirements for preparation, audit and publication of accounts. As a condition of the class order, Resolute Limited and the controlled entity subject to the class order, entered into a deed of indemnity on 22 May 1995. The effect of the deed is that Resolute Limited has guaranteed to pay any deficiency in the event of winding up of the controlled entity. The controlled entity has also given a similar guarantee in the event that Resolute Limited is wound up. Resolute Limited will prepare and lodge accounts which will disclose the Statement of Financial Position and Statement of Financial Performance of the closed group. 

(b) This entity is not audited. A review of the entity’s results and position is performed for the purpose of inclusion in the consolidated entity’s accounts. 

## NOTE 30 - DISCONTINUING OPERATIONS 

During the year, Resolute Mining Limited (“RML”) executed an agreement with Canadian Company Golden Star Resources Limited for the sale of Resolute’s Obotan plant located in Ghana. The Obotan plant includes all processing plant and equipment, powerhouse, stores inventory and spares located at the Obotan site. The total consideration in relation to this transaction was US$4.3m. The consideration of US$4.3m was received in July 2003. RML retains the mining lease and the rehabilitation obligations following the removal of the plant from the site. 

This note was disclosed as a discontinuing operation in the Company’s 2003 annual report. 

## NOTE 31 - SEGMENT INFORMATION 

(a) Primary segment - geographical 

The consolidated entity operates in four geographical segments. 

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