ALARA RESOURCES LIMITED — Major Shareholding Notification 2012

Nov 1, 2012

_____________________________________________________ Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

____________________________________________________

To Company Name/Scheme Alara Resources Limited (ASX code: AUQ) ABN 27 122 892 719

1. Details of substantial holder (1)

Name Contango Asset Management Limited ACN/ARSN (if applicable) 085 487 421

The date of this notice is 02/11/12 There was a change in the interests of the substantial holder on 02/11/12 The previous notice was given to the company on 29/10/10 The previous notice was dated 29/10/10

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous noticePerson's votes	Previous notice Voting	Present noticePerson's votes	Present Notice Votingpower (5)
		power (5)
OrdinaryFullyPaid Shares	6,560,000	7.09%	14,056,993	5.81%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofChange	Person whose interest has changed	Nature of change	Consideration	Number of Ord. FullyPaid Shares	Person’s votes
09-Dec-10	Contango Asset Management Limited	Placement	$341,090.00	1,483,000	1,483,000
13-Apr-11	ContangoAssetManagementLimited	Placement	$411,840.00	1,144,000	1,144,000
12-May-11	ContangoAssetManagementLimited	On-market buy	$6,907.77	52,190	52,190
13-May-11	Contango Asset Management Limited	On-market buy	$9,709.89	29,479	29,479
01-Jun-11	ContangoAssetManagementLimited	Placement	$1,510,560.00	4,196,000	4,196,000
28-Jul-11	ContangoAssetManagementLimited	On-market buy	$112,696.12	285,670	285,670
26-Oct-11	Contango Asset Management Limited	On-market buy	$14,732.32	50,634	50,634
28-Oct-11	ContangoAssetManagementLimited	On-market buy	$3,653.54	12,557	12,557
09-Nov-11	ContangoAssetManagementLimited	On-market buy	$52,770.75	158,187	158,187
07-Feb-12	Contango Asset Management Limited	On-market buy	$25,605.32	85,276	85,276
02-Nov-12	Contango Asset Management Limited	Appendix 3B byCompany	n/a	n/a	n/a

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of Relevant Interest	Registered holder of Securities	Person entitled to be registered holder	Class & No. of Shares	Votes
ContangoAssetManagementLimited	National NomineesLimited	ContangoWholesaleMicroCapFund	Ord 3,164,368	3,164,368
Contango Asset Management Limited	National Nominees Limited	Contango MicrocapLimited	Ord 7,855,664	7,855,664
Contango Asset Management Limited	HSBC CustodyNominees	Non-Govt Schools Superannuation Fund	Ord 3,036,961	3,036,961

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name andACN/ARSN(ifapplicable)N/a	Nature ofassociation
	N/a

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Contango Asset Management Limited	Level 27,35 Collins Street,Melbourne,VIC 3000
Contango MicroCapLimited	Level 27,35 Collins Street,Melbourne,VIC 3000
Contango Wholesale MicroCapFund	Level 27,35 Collins Street,Melbourne,VIC 3000
National Nominees Limited	GPO Box 1406,Melbourne,VIC,3001
HSBC CustodyNominees	GPO Box 5302,Sydney,NSW,2001
Non-Govt Schools Superannuation Fund	Level 16,99 Bathurst Street,Sydney,NSW,2000

Signature

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Name GLENN FOWLES Capacity COMPANY SECRETARY date 02/11/2012