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 11 - OTHER FINANCIAL ASSETS (NON-CURRENT) (a) Listed Investments Shares quoted on a prescribed stock exchange:  - at cost (Note (ii)) 2,603  9,423  703  9,423  Total listed shares 2,603  9,423  703  9,423  (b) Unlisted Investments Shares in other entities - at cost  22  22  -  -  Shares in controlled entities - at cost (Note 29) -  -  76,861  16,408  Total unlisted shares 22  22  76,861  16,408  Total other financial assets (non-current) 2,625  9,445  77,564  25,831  Aggregate market value of shares listed on a prescribed stock exchange (Note (i)) 2,826  7,550  546  7,550  (i) Where the market value of the listed non-current investments is less than the corresponding book value, the directors do not believe it is necessary to provide for a diminution in the value of investments as they are strategic long term positions in these entities and as such the recoverable value of the listed investments are expected to exceed the book value. (ii) Included in listed shares at cost is a material investment in  Bullion Minerals Limited (“BLN”). BLN is a gold exploration company with interests primarily in Western Australia. BLN is mainly focused on two projects namely Yandeearra and Indee JV. RML holds a  19.4% interest in BLN as at balance date (2003:nil). NOTE 12 - MINERAL EXPLORATION AND DEVELOPMENT INTERESTS The consolidated entity has gold mineral exploration  and development costs carried forward in respect  of areas of interest in the following phases: RESOLUTE MINING LIMITED 2004 ANNUAL REPORT Balance at beginning of the year 5,400  6,037  -  -  - Acquired, disposed, revalued during the year 13,077  4,352  -  -  - Expenditure for the year 504  1,276  -  -  - Amount amortised during the year (1,812) (5,052) -  -  - Amount written off during the year -  (18) -  -  - Foreign currency translation (200) (1,195) -  -  Balance at the end of the year 16,969  5,400  -  -  Balance at beginning of the year  -  -  -  -  - Acquired, disposed, revalued during the year 1,844  -  -  -  - Expenditure for the year 942  -  -  -  - Foreign currency translation 8 - - - Balance at the end of the year 2,794  -  -  -  (a) Areas in Production (at cost) (b) Areas in Development (at cost) 47