Consolidated Resolute Mining Limited 2004 2003 2004 2003 $’000 $’000 $’000 $’000 NOTE 14 - DEFERRED EXPENDITURE Deferred mining costs 20,929  17,556  -  -  Deferred put option expenditure 4,943  882  -  -  25,872 18,438 - - NOTE 15 - PAYABLES (CURRENT) Trade creditors and accruals 26,648  14,044  3,293  255  Other creditors 360 408 - - 27,008 14,452 3,293 255 NOTE 16 - INTEREST BEARING LIABILITIES (CURRENT) Lease liability - Note 35 -  6  -  -  Borrowings (a) 4,224 8,193 4,224 8,193 Accrued interest on borrowings  95  94  -  -  Other 72 - - - 4,391 8,293 4,224 8,193 (ii) mortgage over RML’s shares in CG Pty Ltd; (i) fixed and floating charges over all of the current and future assets of  Carpentaria Gold Pty Ltd (“CG Pty Ltd”), including the project, bank  accounts, hedging contracts and material ongoing agreements; (iii) mortgages over CG Pty Ltd’s key mining tenements; (iv) assignment of rights under insurance policies; and (v) tripartite agreements covering material project operating agreements. The balance outstanding at year end represents the current portion of the US$7.73m and A$10m facility provided by NM Rothschild & Sons during  the March 2004 quarter to partially fund the US$45m acquisition of the Ravenswood Gold Mine. The debt is repayable in 10 equal quarterly instalments commencing on 31 March 2005 and finishing on 30 June 2007. The security over the loan comprises the following:  Once a Completion Test has been achieved, the facilities will be assigned  by RML to CG Pty Ltd and become project recourse. Subsequent to year end, NM Rothschild & Sons passed on 50% of the  above mentioned facilities to ABN AMRO Bank N.V. (a) During the 2004 financial year, RML repaid RMB Resources Ltd, a unit of Rand Merchant Bank the outstanding US$5.5m. Refer to Note 6(a) for the corresponding receipt from MDN.  50 notes to and forming part of the financial statements  for the year ended 30 June 2004 (continued) Provision for income tax RESOLUTE MINING LIMITED 2004 ANNUAL REPORT NOTE 17 - TAX LIABILITIES (CURRENT) 1,491  -  -  - 