palmer shares, page-23

(i) Accruals has included an estimate for stamp duty on the purchase of International Minerals of
$15,000,000. This is in the process of being assessed from the Office of State Revenue and
as such could vary from the estimate made in the half yearly accounts. The dutiable
statement lodged at present with the Office of State Revenue shows a stamp duty liability of
nil however a conservative approach has been taken in regards to the half yearly accounts as
the Office of State Revenue will be conducting their own valuation of the assets of
International Minerals.