COMET RIDGE LIMITED — Director's Dealing 2011

Nov 23, 2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity COMET RIDGE LIMITED

ABN 47 106 092 577

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	TOR MCCAUL
Date of last notice	9 November 2011

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Trudy Jasmine McCaul is spouse of theDirector
Date of change	23 November 2011
No. of securities held prior to change	5,150,000 unlisted optionsexercisable @ A$0.269 expiring 30.06.12125,000 ordinary shares held by TrudyJasmine McCaul
Class	Employee Performance Rights, with eachPerformance Right carrying a right to oneshare in Comet Ridge Limited
Number acquired	350,000
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	AUS$50,075 estimated on the closing price ofComet Ridge Limited’s ordinary shares as at23 November 2011

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Tor McCaul: 5,150,000 unlisted options
	exercisable @ A$0.269 expiring
	30.06.12.
	Trudy J McCaul: 125,000 ordinary shares
	Tor McCaul: 175,000 Performance Rights
	(Tranche 1) vesting 1 July 2012
	Tor McCaul: 175,000 Performance Rights
	(Tranche 2)Vesting1 July2013
Nature of change
Example: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Issue of Rights to the Managing Director asan employee under the Comet Ridge LimitedEmployee Performance Rights Plan

Part 2 – Change of director’s interests in contracts N/A

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract N/A Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a[+] closed period where prior written NO clearance was required?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

If so, was prior written clearance provided to allow the trade N/A to proceed during this period? If prior written clearance was provided, on what date was this N/A provided?

• See chapter 19 for defined terms.

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