EMETALS LIMITED — Major Shareholding Notification 2010

Oct 25, 2010

603 Page 1 of 3 15 July 2001

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme

ACN/ARSN

West Peak Iron Ltd

142 411 390

1. Details of substantial holder (1)

Name David Rodney Parker

ACN/ARSN (if applicable) n/a

The holder became a substantial holder on

13 / 10 / 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)
Fully Paid Ordinary Shares	2,520,001	2,520,001	10.5%

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
Cobblestones Corporate PtyLtd ATF DRP Investment A/c	Indirect	2,500,000 FPO
Cobblestones Corporate Pty
Ltd ATF DRP (2006) Super Fund	Indirect	10,000 FPO
A/c
David R Parker	Direct	10,001 FPO

4. Details of present registered holders

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

Holder of relevant	Registered holder of	Person entitled to be	Class and number of securities
interest	securities	registered asholder(8)
Cobblestones	Cobblestones	Cobblestones
Corporate Pty LtdATF DRP Investment	Corporate Pty LtdATF DRP Investment	Corporate Pty LtdATF DRP Investment	2,500,000 FPO
A/c	A/c	A/c
Cobblestones	Cobblestones	Cobblestones
Corporate Pty LtdATF DRP (2006) Super	Corporate Pty LtdATF DRP (2006)	Corporate Pty LtdATF DRP (2006) Super	10,000 FPO
Fund A/c	Super Fund A/c	Fund A/c
David R Parker	David R Parker	David R Parker	10,001 FPO

603 Page 2 of 3 15 July 2001

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	Date of acquisition	Consideration (9)	Consideration (9)		Class and number of securities
interest
		Cash		Non-cash
Cobblestones
Corporate Pty LtdATF DRP Investment	6/4/2010	$25,000			2,500,000 FPO
A/c
Cobblestones
Corporate Pty LtdATF DRP (2006) Super	13/10/2010	$2,000			10,000 FPO
Fund A/c
David R Parker	4/3/2010 &13/10/2010	$2,001			10,001 FPO

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
Cobblestones Corporate
Pty Ltd ATF DRP	David Parker is a director and controller.
Investment A/c
Cobblestones Corporate
Pty Ltd ATF DRP (2006)	David Parker is a director and controller.
Super Fund A/c

7. Addresses

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

Name	Address
David Parker	67 Anstey Rd, Forrestdale WA 6112

Signature

print name	David R Parker	capacity	Holder/Director
sign here		date	26/10/2010

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.

603 Page 3 of 3 15 July 2001

• (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 any 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.