9. EARNINGS PER SHARE 2011 2010 The following reflects the income used in the basic and diluted earnings per share computations. (a) Earnings used in calculating earnings per share For basic earnings per share: Net profit from continuing operations attributable to ordinary equity holders of the parent 62,948,043 12,660,889 Loss attributable to discontinued operations (505,195) (820,100) Net profit attributable to ordinary equity holders of the parent 62,442,848 11,840,789 Basic earnings per share (cents) 4.57 0.92 For diluted earnings per share: Net profit from continuing operations attributable to ordinary equity holders of the parent  (from basic EPS) 62,948,043 12,660,889 Loss attributable to discontinued operations (505,195) (820,100) Net profit attributable to ordinary equity holders of the parent 62,442,848 11,840,789 Fully diluted earnings per share (cents) 4.57 0.91 (b) Weighted average number of shares Weighted average number of ordinary shares for basic earnings per share 1,365,661,782 1,290,072,741 Effect of Dilution: Share Options 1,787,500 15,275,000 Weighted average number of ordinary shares adjusted for the effect of dilution 1,367,449,282 1,305,347,741 There are no instruments (e.g. share options) excluded from the calculation of diluted earnings per share that could potentially  dilute basic earnings per share in the future because they are antidilutive for either of the periods presented. The Company commenced an on market buy-back of its ordinary shares on 1 July 2011. As at the date of this report the Company  had acquired 25,208,407 shares resulting in a reduction of the Company’s ordinary shares. There have been no transactions involving ordinary shares or potential ordinary shares since that would significantly change  the number of ordinary shares or potential ordinary shares outstanding between the reporting date and before the completion of  these financial statements. 10. DIVIDENDS PAID AND PROPOSED 2011 2010 No dividends have been paid or declared by the Company during the financial period or up to the  date of this report. The amount of franking credits available for the subsequent financial year are: • franking account balance as at the end of the financial year 5,930,931 5,930,931 at 30% (2010: 30%) • franking credits that will arise from the payment of income tax payable as at the end of the financial year - - The amount of franking credits available for future reporting years 5,930,931 5,930,931 The franking credits were transferred to the Consolidated Entity on the acquisition of the Metals Exploration Limited Group. 85  NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011