directors’ report (continued) (a) Other benefits include, where applicable, the cost to the Company of providing fringe benefits, the fringe benefits tax on those benefits and director indemnity insurance premiums paid by the Company and all other benefits received by the executive. (b) Details of the terms and conditions of the options are set out in Note 36(b). Fair values have been determined using an appropriate option pricing model that takes into account the exercise price, the term of the option, the vesting and performance criteria, the impact of dilution, the non-tradeable nature of the option, the RML ordinary share price at the date of issue, the expected volatility of the underlying share, the expected dividend yield and the risk-free interest rate for the term of the option. 33 RESOLUTE MINING LIMITED 2004 ANNUAL REPORT Share Options Indemnification and Insurance of Directors and Officers  Directors’ Meetings Tax Consolidation Rounding Refer to Note 33 and Note 36 for details of Company options. During or since the financial year, the Company paid an insurance premium of $55,000 (2003: $54,400) in respect of a contract insuring the Company’s directors and officers against certain liabilities arising as a result of work performed in the capacity as directors. The premium paid is included as part of directors’ remuneration in Note 33. The number of meetings and resolutions of directors (including meetings of committees of directors) held during the year and the number of meetings (or resolutions) attended by each director were as follows: Details of remuneration paid to the 5 most highly remunerated officers are available upon request. * Mr H.Price attended all directors’ meetings and relevant committee meetings held since his appointment to the board. The details of the functions of the other committees of the Board are presented in the Corporate Governance Statement. Effective 1 July 2002, for the purposes of Australian income taxation, Resolute Mining Limited and its 100% owned Australian domiciled subsidiaries formed a tax consolidation group. The members of the group have agreed to enter a tax sharing arrangement in order to allocate income tax expense to the wholly owned subsidiaries on a pro-rata basis. Pursuant to the agreement, the income tax liability will be allocated based on the notional tax liabilities of the individual entities in the group. RML is a company of the kind specified in Australian Securities and Investment Commission Class Order 98/0100. In accordance with that class order, amounts in the financial report and the Directors’ Report have been rounded to the nearest thousand dollars unless specifically stated to be otherwise. Signed in accordance with a resolution of the directors. Perth, Western Australia 23 September 2004 P. R. Sullivan Director Full Board Audit Environment  Remuneration Safety, Security Financial Risk and Community and Nomination & Occupational Management Development Health  P.Huston 21 2 n/a 4 n/a n/a P.Sullivan 21 n/a 4 n/a 4 37 T.Ford 21 2 n/a 4 n/a n/a H.Price* 11 1 n/a n/a n/a n/a Number of meetings held 21 2 4 4 4 37