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The outstanding balance as at 30 June 2011 is represented by the following table: 

<img src='content_image/183268.jpg'>

## (d) Weighted average remaining contractual life 

The weighted average remaining contractual life for the share options outstanding as at 30 June 2011 is 1.73 years (2010: 2.08 years). 

## (e) Range of exercise price 

The range of exercise prices for ESOP options outstanding at the end of the year was $0.13 - $0.45 (2010: $0.13 - $0.45). 

As the range of prices is wide, refer to section (c) above for further information in assessing the number and timing of additional shares that may be issued and the cash that may be received upon exercise of those options. 

## (f) Weighted average fair value 

The weighted average fair value of options granted during the year was nil (2010: $0.13). 

## (g) Option pricing model 

The fair value of the equity-settled share options granted under the EOS is estimated at the date of grant using a Black & Scholes model, which takes into account factors including the options exercise price, the volatility of the underlying share price, the risk- free interest rate, the market price of the underlying share at grant date and the expected life of the option. 

The following table gives the assumptions made in determining the fair value of the options granted: 

<img src='content_image/183269.jpg'>

The effects of early exercise have been incorporated into the calculations by using an expected life for the option that is shorter than the contractual life based on historical exercise behaviour, which is not necessarily indicative of exercise patterns that may occur in the future. The expected volatility was determined using a historical sample of the Company’s share price over a 12 month period. The resulting expected volatility therefore reflects the assumptions that the historical volatility is indicative of future trends, which may also not necessarily be the actual outcome. 

