EVOLUTION MINING LIMITED — Regulatory Filings 2014

Dec 23, 2014

Form 604 Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Evolution Mining Limited
ACN/ARSN	084 669 036
Details of substantial holder (1) 1. Name ACN/ARSN (if applicable)	N/A	Van Eck Associates Corporation (and its associates referred to in paragraph 6).
There was a change in the interests of the
substantial holder on		19/12/2014
The previous notice was given to the company on		23/12/2014
The previous notice was dated		22/12/2014

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) Ordinary shares	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
	61.028.591	8.54%	46.635.403	6.52%

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 of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	Van Eck Associates Corporation (VEAC) See Annexure 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 as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
VEAC	State Street Bank as lcustodian for Van Eck Ilnternational Funds - International Investors Gold Fund	Van Eck Funds - linvestors Gold Fund $\vert$ (HG)	IVEAC holds its relevant linterest by having the power to exercise, control the exercise of, or influence the exercise of. the voting powers or disposal of the securities to which the relevant linterest relates in the ordinary course of investment management lbusiness.	Ordinary shares 10,150,424	1.420%
VEAC	Bank of New York Mellon as custodian lfor Market Vectors Trust - Junior Gold Miners ETF	Market Vectors Trust Same as above. Junior Gold Miners ETF (GDXJ)		Ordinary shares 30,819,011	4.311%

VEAC	Northern Trust as custodian for Lockheed Martin Corporation Master Retirement Trust	Lockheed Martin Junior Gold (LM)	Same as above.	Ordinary shares 486,160	0.068%
VEAC	Credit Agricole as custodian for LODH Invest - The World Gold Expertise Fund	LODH Invest - The World Gold Expertise Fund (LODH)	Same as above.	Ordinary shares 2,048,891	0.287%
VEAC	JPMorgan as custodian for Jackson National	lJackson National/VanlSame as above. Eck International Fund (JLGOLD)		Ordinary shares 1,204,600	0.168%
VEAC	Northern Trust as custodian for Guidestone Global Natural Resources- Van Eck	Guidestone Global Natural Resources- Van Eck (GGOLD)	Same as above.	Ordinary shares 1,081,000	0.151%
VEAC	State Street Bank as custodian for Van Eck VIP Global Gold VIP Trust - VIP Global (VGOLD) Gold	Van Eck VIP Trust-	Same as above.	Ordinary shares 133,000	0.019%
VEAC	Northern Trust as custodian for Lockheed Martin Corporation Master Retirement Trust	Lockhead Martin Corporation Master Retirement Trust (LMJ)	Same as above.	Ordinary shares 702,000	10.098%
VEAC	Bank of New York Mellon as custodian for Market Vectors Trust, Market Vectors Australian Emerging	Market Vectors Trust Same as above. Market Vectors Australian Emerging Resources ETF (MVE.AU)		Ordinary shares 10,317	0.001%

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:

I: E ACN/ARSN Name and u applicable)	__ _________ Nature of association
the contract of the contract of the __ ----	______ ___
the property of the control of the control of the con- _____	__ _

6. Addresses

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

Name	Address
VEAC	335 Madison Avenue, New York, NY 10017
Van Eck Securities Corporation	335 Madison Avenue, New York, NY 10017
Van Eck Absolute Return Advisers, Inc.	335 Madison Avenue, New York, NY 10017
Market Vectors Australia Pty Ltd	Gold Fields House, Level 3, 1 Alfred Street, Sydney NSW 2000
Market Vectors Investments Limited	Gold Fields House, Level 3, 1 Alfred Street, Sydney NSW 2000

Assistant of VP

23/12/2014

Signature

	print name Russell Brennan	capacity
sign here	$\infty$ VV V.50111 1/2	date

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 6 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.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• $(a)$ any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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.

• $(7)$ 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 on 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.
• 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". $(8)$
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

604 GUIDE page 1/1 13 March 2000

GUIDE

This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.

Signature		This form must be signed by either a director or a secretary of the substantial holder.
Lodging period	Nil
Lodging Fee	Nil
Other forms to be completed	Nil
Additional information	(a)	If additional space is required to complete a question, the information may be included on a separate piece of paper annexed to the form.
	(b)	This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme. A copy of this notice must also be given to each relevant securities exchange.
	(c)	The person must give a copy of this notice:
		within 2 business days after they become aware of the information; or (i)
		by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the (ii) information if:
		(A) a takeover bid is made for voting shares in the company or voting interests in the scheme; and
		(B) the person becomes aware of the information during the bid period.
Annexures		To make any annexure conform to the regulations, you must
	1	use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides
	2	show the corporation name and A.C.N or ARBN
	з	number the pages consecutively
	4	print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied
	5	identify the annexure with a mark such as A, B, C, etc.
	6	endorse the annexure with the words: This is annexure (mark) of (number) pages referred to in form (form number and title)
	7	sign and date the annexure.
		The annexure must be signed by the same person(s) who signed the form.

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

This is Annexure A of 2 pages referred to in Form 604 -Notice of change of interests of substantial holder (EVN AU)

Holder of relevant	Date of		Consideration		Consideration Non-
interest	Acquisition/Disposal	B/S		Cash	cash		Number of Securities
VGOLD	8/20/2014B		\$	19,841	$\overline{\mathsf{S}}$		26,000
GDXJ	$8/22/2014$ B		\$		In-Kind		269,661
MVEAU	$8/25/2014$ B		\$	28	\$	۰.	37
GDXJ	$9/4/2014$ S		\$		In-Kind		231,180
GDXJ	$9/8/2014$ B		\$		In-Kind		385,450
JLGOLD	$9/10/2014$ S		$\overline{\varsigma}$	167,099	\$	÷	250,000
LODH	$9/10/2014$ S		\$	270,700	\$	÷	405,000
GDXJ	$9/11/2014$ B		\$		In-Kind		771,020
GDXJ	$9/16/2014$ B		\$		In-Kind		38,463
GDXJ	$9/17/2014$ B		$\overline{\xi}$		In-Kind		38,461
GDXJ	$9/18/2014$ B		\$		In-Kind		384,750
GDXJ	$9/19/2014$ B		$\overline{\xi}$	4,553,535	$\zeta$	÷	5,991,494
GDXJ	$9/19/2014$ B		\$		In-Kind		384,820
MVEAU	$9/19/2014$ B		$\overline{\xi}$	592	\$	۰	779
GDXJ	$9/22/2014$ S		\$	151,041	\$	ä,	206,795
GDXJ	$9/23/2014$ B		\$		In-Kind		1,156,815
GDXJ	$9/25/2014$ B		\$		In-Kind		856,840
GDXJ	$9/26/2014$ B		$\overline{\boldsymbol{\varsigma}}$		In-Kind		728,246
GDXJ	$9/29/2014$ B		$\overline{\boldsymbol{\zeta}}$		In-Kind		299,845
MVEAU	$9/30/2014$ B		\$	77	\$		111
GDXJ	$10/1/2014$ B		\$		In-Kind		342,584
GDXJ	$10/7/2014$ B		$\overline{\xi}$		In-Kind		256,962
GDXJ	10/9/2014 S		\$		In-Kind		256,794
GGOLD	10/10/2014B		\$	67,239	\$		91,000
MVEAU	10/14/2014 S		\$	5	$\overline{\boldsymbol{\zeta}}$
GDXJ	10/15/2014B		\$		In-Kind		299,649
JLGOLD	10/24/2014 S		$\overline{\varsigma}$	100,988	$\zeta$	¥,	157,000
GDXJ	10/27/2014 S		\$		In-Kind		214,040
GDXJ	10/29/2014 S		\$		In-Kind		214,050
GDXJ	10/31/2014 S		\$		In-Kind		471,009
GDXJ	11/3/2014 S		\$		In-Kind		214,100
GDXJ	11/4/2014 S		\$		In-Kind		299,712
GDXJ	11/5/2014 S		\$		In-Kind		1,327,420
GDXJ	$11/6/2014$ S		\$		In-Kind		128,481
GDXJ	11/7/2014 S		$\overline{\xi}$		In-Kind		428,270
GDXJ	11/10/2014 S		\$		In-Kind		685,120
GDXJ	$11/11/2014$ B		\$		In-Kind		85,646
GGOLD	$11/11/2014$ B		\$	52,996	\$	$\omega_{\rm c}$	93,000
IIG	$11/11/2014$ B		\$	235,919	\$	Ξ,	414,000
JLGOLD	$11/11/2014$ B		\$	37,040	$\overline{\mathsf{S}}$	45	65,000
LODH	$11/11/2014$ B		\$	28,493	$\overline{\mathsf{S}}$		50,000
VGOLD	$11/11/2014$ B		\$	4,559	$\overline{\mathsf{S}}$	$\blacksquare$	8,000
GDXJ	11/14/2014 S		\$		In-Kind		428,240
GDXJ	11/19/2014 B		$\overline{\boldsymbol{\zeta}}$		In-Kind		385,200
MVEAU	11/21/2014 S		\$	75	$\zeta$ $\blacksquare$		141
GDXJ	11/25/2014 B		\$		In-Kind		1,626,438
GDXJ	11/26/2014B		\$		In-Kind		171,192
MVEAU	11/27/2014 S		\$	15	\$	$\overline{\phantom{a}}$	27
GDXJ	12/5/2014 S		$\overline{\xi}$		In-Kind		256,830

$\mathbb B$

Holder of relevant	Date of		Consideration		Consideration Non-
interest	Acquisition/Disposal	B/S	Cash		cash	Number of Securities
GDXJ	12/8/2014 S		\$		In-Kind	428,050
GDXJ	12/9/2014 S		\$		In-Kind	85,604
GDXJ	12/10/2014 S		\$		In-Kind	599,242
MVEAU	$12/10/2014$ B		\$ 28	\$	×	49
GDXJ	12/11/2014 S		\$		In-Kind	514,716
GDXJ	12/12/2014 S		\$		In-Kind	386,037
GDXJ	12/15/2014 S		\$ 166,641	\$	٠	300,465
GDXJ	12/16/2014 S		\$ 544,420	Ş	G)	981,447
GDXJ	12/16/2014 S		\$		In-Kind	733,737
GDXJ	12/17/2014 S		\$ 1,135,331	\$	$\sim$	2,046,705
GDXJ	12/17/2014 S		\$		In-Kind	519,516
GDXJ	12/18/2014 S		\$ 2,846,843	\$	$\ddot{}$	5,132,116
GDXJ	12/18/2014 S		\$		In-Kind	345,920
GDXJ	$12/19/2014$ B		\$		In-Kind	518,484
GDXJ	12/19/2014 S		\$ 8,521,367	\$	۰	14,910,529
MVEAU	12/19/2014 S		\$ 651	\$	٠	1,143

This is Annexure A of 2 pages referred to in Form 604 -Notice of change of interests of substantial holder (EVN AU)

In-Kind transactions result from the ETF receiving a basket of securities in exchange for securities in the ETF.

In-Kind transactions refers to how market makers of exchange traded funds (ETF) can reconcile the differences between net asset value (NAV) and market values when shares of the ETFs are bought and sold. The market maker can arbitrage the ETF shares with the shares that make up the underlying portfolio, by creating or redeeming lots of the ETF shares. This structure causes ETFs to be treated as "in kind" transactions where investors only pay capital gains like with stocks, as opposed to other fees associated with mutual funds.