notes to and forming part of the financial statements  for the year ended 30 June 2004 (continued) Consolidated Resolute Mining Limited 2004 2003 2004 2003 $’000 $’000 $’000 $’000 NOTE 2 - PROFIT FROM ORDINARY ACTIVITIES (a) Revenues from operating activities Gold sales 118,207 108,629 - - Total revenue from operating activities 118,207  108,629  -  -  (b) Revenues from non operating activities Proceeds on sale of plant and equipment (Note 2(f)) 6,001  192  -  -  Proceeds on sale of investments (Note 2(f)) 27,404  793  15,646  -  Proceeds on sale of exploration properties (Note 2(f)) 2,350  -  -  -  Interest income - other persons/corporations 722  522  137  70  Net option premium 5,140  3,435  -  -  Other income 316  278  58  50  Total revenue from non operating activities 41,933  5,220  15,841  120  Total revenues from ordinary activities 160,140  113,849  15,841  120  (c) Cost of sales Cash costs 83,740  73,757  -  -  Amortisation of exploration & development costs 1,812  5,052  -  -  Depreciation of mine properties, plant & equipment 7,856  7,888  -  -  Royalty 3,776 3,443 - - Gold in circuit adjustment 810  (663) -  -  Operational support costs 1,448 1,819 - - Total cost of sales 99,442  91,296  -  -  (d) Borrowing costs Interest and fees paid/payable to other entities 1,173  797  566  76  Total borrowing costs 1,173  797  566  76  (e) Other expenses from ordinary activities Management and administration expenses 2,920  2,249  1,939  1,247  Carrying value of plant and equipment sold (Note 2(f)) 1,358  229  -  -  Carrying value of investments sold (Note 2(f)) 14,847  696  11,177  -  Carrying value of exploration properties sold (Note 2(f)) 506  -  -  84  Insurance costs 534 601 - - Operating lease expense 427  392  -  -  Foreign exchange (gain)/loss 1,342  (1,454) 1,119  439  Write down of mineral exploration and development costs 515  1,632  4  -  Provision for diminution in value of investments -  1,509  -  -  Depreciation of non minesite assets 110  144  -  -  Other 534 (313) - - Total other expenses from ordinary activities 23,093  5,685  14,239  1,770  (f) Profit on sale of assets Profit/(loss) from sale of plant and equipment 4,643  (37) -  -  Profit from sale of investments 12,557  97  4,469  -  Profit on sale of exploration properties 1,844  -  -  -  Total profit on sale of assets 19,044  60  4,469  -  44 RESOLUTE MINING LIMITED 2004 ANNUAL REPORT