content_image/65066.jpg
## Notes to the Financial Statements for the year ended 30 June 2004 

## Speci fi  ed executives of St Barbara Mines Limited and group 

<img src='content_image/65066.jpg'>

(i) Mr Boyd commenced on 15 December 2003 

(ii)  Mr Rule terminated employment as Chief Financial Of fi  ce on 30 November 2003 and resigned as Company Secretary on 15 December 2003. 

(iii)  Mr Lambert commenced with NuStar Mining Corporation Limited on 21 January 2004, and on 1 May 2004 he entered into a 3 year executive employment contract. 

(iv)  On 1 May 2004 NuStar Mining Corporation Limited granted Mr Lambert 5,000,000 options over ordinary NuStar shares, exercisable at a price of $0.05 each, under the NuStar Employee Option Scheme approved by NuStar shareholders on 12 December 2003. Valuation of these options is based on the Black-Scholes method utilising share price at grant date, interest of 5.75% and volatility of 35%. As the options vest on achievement of certain performance criteria in the future, the value has been attributed over the intervening period and proportioned from grant date to 30 June 2004 

## Options provided as remuneration 

The details and value of options provided to executives are shown above. 

