11. DISCONTINUED OPERATIONS (a) Details of operations held for sale: 86  NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011 2011 2010 (b) Financial performance of operations held for sale The results of the discontinued operations for the year are presented below: Revenue - - Expenses (685,454) (639,446) Gross loss (685,454) (639,446) Other income 2,000  9,219  Finance costs - - Impairment loss on property, plant and equipment - (500,000) Exploration and evaluation expenditure written off (38,253) (41,345) Loss before tax from discontinued operations (721,707) (1,171,572) Income tax benefit: - related to pre-tax profit/(loss) 216,512  351,472  Loss for the year from discontinued operations (505,195) (820,100) Loss per share - cents per share  - basic from discontinued operations (0.04) (0.06)  - diluted from discontinued operations (0.04) (0.06) (c) Assets and liabilities - held for sale operations The major classes of assets and liabilities of Bluestone Nominees Pty Ltd at 30 June 2011 are as follows: Assets Property, plant and equipment 1,476,212  1,491,219  1,476,212  1,491,219  Liabilities Provisions (886,260) (886,260) (886,260) (886,260) Net assets attributable to discontinued operations 589,952  604,959  (d) Cash flow information - held for sale operations Operating activities (675,177) 84,436  Investing activities (36,253) (23,345) Net cash flow (711,430) 61,091  In 2009 the board of directors decided to dispose of Bluestone Nominees Pty Ltd, the company that owns the Collingwood Tin  Project. The Company publicly announced this decision in February 2009 and is currently pursuing a suitable acquirer for the  project.