DEVELOP GLOBAL LIMITED — Major Shareholding Notification 2010

Feb 2, 2010

603 page 1/2 15 July 2001

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To: Company Name/Scheme Venturex Resources Limited ACN/ARSN 122 180 205 1. Details of substantial holder (1) Name Straits Resources Limited ACN/ARSN (if applicable) 056 601 417 This notice is also given on behalf of the subsidiaries of Straits Resources Limited, including those set out in Annexure A (“Straits Subsidiaries”). The holder became a substantial holder on 01/02/2010

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities(4)	Number of securities	Person’s votes(5)	Voting power(6)
OrdinaryFullyPaid Shares	106,700,000	106,700,000	19.90%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

	Holder of relevant interest	Nature of relevant interest(7)	Class and number of securities	Class and number of securities
	Straits Resources Limited	Issued as consideration for the acquisition of	106,700,000 Ordinary Shares
		Straits (Whim Creek) Pty Ltd by Venturex
		Resources Limited – approved by Venturex
		Shareholders at the AGM on 30 November
		2009
	present registered holders
	registered as holders of the securities referred to in paragraph 3 above are as follows:
	Holder of relevant interest	Registered holder of securities Person entitled to be registered as		Class and number of securities
		holder(8)
	Straits Resources Limited	Straits Resources Limited Straits Resources Limited		106,700,000 OrdinaryShares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration(9)	Consideration(9)	Class and number of securities
		Cash	Non-cash
Straits Resources Limited	01/02/2010		Sale of Straits (Whim Creek) Pty Ltd for 106,700,000 Ordinary Shares at an issue price of $0.075 per share	106,700,000 Ordinary Shares

603 page 2/2 15 July 2001

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN(if applicable)	Nature of association
Refer AnnexureA

7. Addresses

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

Name	Address
StraitsResourcesLimited	Level 1, 35Ventnor AvenueWestPerth WA6005
Straits Subsidiaries	Level 1, 35Ventnor AvenueWestPerth WA6005

Signature

print name Mark Hands capacity Company Secretary sign here date 03/02/2010

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg, a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of “associate” in section 9 of the Corporations Act 2001.

• (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of the relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person (eg if the relevant interest arises because of an option) write "unknown".

• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

J:\ADMINISTRATION\SECRETARIAL\COMPANY SECRETARY\ASX Releases\Draft Not yet released\Becoming_ a_ substantial_ holder_Venturex_Resources_!20100202.doc

603 GUIDE page 1/1 13 March 2000

This is Annexure A of one page referred to in Form 603 – Notice of Initial Substantial Holder dated 3 February 2010 and signed by me.

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Mark Hands Company Secretary Straits Resources Limited

STRAITS SUBSIDIARIES

Registered Officer for all listed below: Level 1, 35 Ventnor Avenue West Perth WA 6005

STRAITS MINING PTY LTD	055 020 614
TRITTON RESOURCES PTY LTD	100 095 494
GIRILAMBONE COPPER COMPANY PTY LTD	057 083 637
STRAITS GOLD PTY LTD	072 498 081
STRAITS (HILLGROVE) GOLD PTY LTD	102 660 506
STRAITS INDO GOLD PTY LTD	104 934 321
INDO MURO PTY LTD	100 135 000
MURO OFFSHORE PTY LTD	050 028 389
STRAITS MINERAL INVESTMENTS Pty Ltd	124 028 271
STRAITS EXPLORATION (AUSTRALIA) PTY LTD	061 614 695
STRAITS MINE MANAGEMENT PTY LTD	083 686 033
NEURAL MINING SOLUTIONS PTY LTD	073 277 899

The above companies are all subsidiaries of Straits Resources Limited pursuant to section 9 of the Corporations Act.