notes to and forming part of the financial statements  for the year ended 30 June 2004 (continued) NOTE 40 - CONTINGENT ASSETS NOTE 41 - EARNINGS PER SHARE (a) Challenger/Dominion royalty Resolute will receive A$20 per ounce for every ounce of gold in excess of 100,000 ounces of production in relation to the Challenger project in the Gawler Craton region in South Australia. As announced by the owner of the project Dominion Mining Limited, as at 30 June 2004 a total of 98,736 ounces of gold have been produced from the project. Consolidated 2004 2003 Basic earnings per share (a) Profit used in calculation of basic EPS ($’000) 31,895  15,281  (b) Weighted average number of ordinary shares outstanding during the period used in the calculation of basic EPS 166,383,341  161,983,031  (c) Basic EPS (cents per share) 19.2 9.4 Diluted earnings per share (d) Profit used in calculation of dilutive EPS ($’000) 31,895  15,281  (e) Weighted average number of ordinary shares outstanding during  the period used in the calculation of basic EPS 166,383,341  161,983,031  Weighted average of notional shares used in determining diluted EPS 20,507,491  764,706  Weighted average number of ordinary shares outstanding during the period used in the calculation of diluted EPS 186,890,832  162,747,737  (f) Number of potential ordinary shares that are not dilutive and hence not included in calculation of diluted EPS 2,460,000  55,589,059  (g) Diluted EPS (cents per share) 17.1 9.4 66 RESOLUTE MINING LIMITED 2004 ANNUAL REPORT