St Barbara Mines Limited Annual Report 2004 Notes to the Financial Statements  for the year ended 30 June 2004 (i) Certain exploration interests are subject to farm-in agreements, which may result in the establishment of joint ventures  in the future. Consolidated Company 30 June 2004 $’000 30 June 2003 $’000 30 June 2004 $’000 30 June 2003 $’000 13. Mining properties Non-Current Opening balance 46,372 58,188 19,224 27,370 Direct expenditure  4,383 10,558 2,668 6,877 Acquired tenements - 3,164 - 3,164 Provision for diminution (6,497) - (6,497) - Amortisation charge for the year (1,539) (15,641) (1,539) (15,641) Write down as per Director’s recommendation (318) - (318) - Write down due to change in accounting policy  (see Note 1(e)) - (9,897) - (2,546) Closing balance 42,401 46,372 13,538 19,224 Mining properties Areas of interest in the exploration / evaluation stage: - at cost  (i) 52,228 48,734 16,013 14,234 - provision for diminution (5,256) - (5,256) - - write down as per Director’s recommendation (318) - (318) - - write down due to change in accounting policy  (see Note 1(e)) (7,352) (7,352) - - 39,302 41,382 10,439 14,234 Areas of interest in the development and  production phase - at cost 110,851 109,962 110,851 109,962 - accumulated amortisation  (60,614) (59,075) (60,614) (59,075) - writedown as per Directors’ recommendation (1,241) - (1,241) - - write down due to change in accounting policy  (see Note 1(e)) (2,546) (2,546) (2,546) (2,546) - provision for diminution (43,351) (43,351) (43,351) (43,351) 3,099 4,990 3,099 4,990 42,401 46,372 13,538 19,224