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## 9. EARNINGS PER SHARE 

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There are no instruments (e.g. share options) excluded from the calculation of diluted earnings per share that could potentially dilute basic earnings per share in the future because they are antidilutive for either of the periods presented. 

The Company commenced an on market buy-back of its ordinary shares on 1 July 2011. As at the date of this report the Company had acquired 25,208,407 shares resulting in a reduction of the Company’s ordinary shares. 

There have been no transactions involving ordinary shares or potential ordinary shares since that would significantly change the number of ordinary shares or potential ordinary shares outstanding between the reporting date and before the completion of these financial statements. 

## 10. DIVIDENDS PAID AND PROPOSED 

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The franking credits were transferred to the Consolidated Entity on the acquisition of the Metals Exploration Limited Group. 

