Statement of Cash Flows for the year ended 30 June 2004 Consolidated Resolute Mining Limited 2004 2003 2004 2003 Note $’000 $’000 $’000 $’000 CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers 122,923  112,473  -  107  Payments to suppliers and employees (109,907) (97,228) (2,378) (1,384) Interest received 779  522  195  5  Interest and other costs of finance paid (860) (546) (411) -  Income taxes paid (1,404) (375) (128) -  Net operating cash flows 27(b) 11,531  14,846  (2,722) (1,272) CASH FLOWS FROM INVESTING ACTIVITIES Payment for property, plant and equipment (1,752) (14,185) -  -  Proceeds from sale of plant and equipment 6,001  192  -  -  Payments for investments (1,103) (4,176) (703) (4,040) Proceeds from sale of investments 27,404  793  15,646  -  Expenditure on exploration and development areas (5,486) (7,902) (4) (439) Acquisition of areas in production -  (9,083) -  -  Proceeds on sale of exploration interest 750  20  -  -  Loan to other entities -  (9,075) -  (9,075) Loan to other persons/corporations repaid 7,251  -  7,251  -  Loan to controlled entities -  -  (3,536) (7,242) Loans repaid by controlled entity -  -  31,298  6,274  Cash paid on purchase of controlled entities 27(c) (72,162) -  (74,828) -  Net investing cash flows (39,097) (43,416) (24,876) (14,522) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issues of securities 15,345  7,668  15,345  7,668  Cost of issuing securities (471) -  (471) -  Proceeds from borrowings 22,227  26,325  20,000  9,075  Repayment of borrowings (7,251) -  (7,251) -  Repayment of lease liability (6) (27) -  -  Return of capital (10) (933) (10) (933) Buy back of shares (15) (16) (15) (16) Other - 82 - - Net financing cash flows 29,819  33,099  27,598  15,794  Net increase in cash held 2,253  4,529  -  -  Cash and bullion held at the beginning of year 17,627  15,622  -  -  Exchange rate adjustment (606) (2,524) -  -  Cash and bullion held at the end of the year 27(a) 19,274  17,627  -  -  40 RESOLUTE MINING LIMITED 2004 ANNUAL REPORT