HELIX RESOURCES LIMITED — Major Shareholding Notification 2005

Jun 26, 2005

Corporations Law Section 671B

Notice of change of interests of substantial holder

Πo	Company Name/Scheme	BELIX RESOURCES LIMITED
	ACN/ARSN	009 138 738
Ί.	Details of substantial holder(1)
Nanc	ACN/ARSN (if applicable)	YANDAL BIVESTMENTS PTY LTD 070 684 810
There was a change in the interests of the substantial shareholder on		16 / 06 / 05
The previous notice was given to the company on		27/06/05
	The previous notice was dated	27/06/05

$2.$ 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 witen now required, to give a substantial holding notice to the company or scheme, are as follows:

		Previous aptice	Present notice.
Class of Securities(4)
	Person's votes	Voting power (5)	Person's votes	$\longleftarrow$ Voting power ${!!{5}!!}$
- Ord Falke Paid	4.234.406	反构化	5.234.406	6.82%

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 associating/securities of the company or scheme, since the substantial holder was iast required to give a substantial holding notice to the company or scheme are as follows:

Date of		Person whose	Nature of change		Consideration	Class and	Person's votes
г Баларе		relevant interest	(6)		given in	number of	affected
	changed				relation to	securities
					change (7)	affected
16.06.05.	Yandal	Investments	Purchased	OB.		1,000,000	5,234,406
	Ptv Ltd		raarket.			Ordinary
			26.05.05	30.667		fully paid
			26.05.05	100.000
			31.05.05	241.036
			03.06.05	-40.000
			06.06.05.	21,000
			06.06.05	18,000

	08.06.05 163,667
	09.06.05 17.000
	14.06.05 159.241
	15.06.05 190.917
	16.06.05 20,472	115144.269.43

Present relevant interests 4.

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

Holder of	Registered	Person entitled	Nature of	Class and	Person's votes
relevant	halder af	to be registered	relevant.	munber of
interest	securities	as holder (8).	interest (6)	securities
Yandal	Yandal	Yandal	Holder	5.234.406	-5.234.406
investments	hwestments.	hvesbnems		fully. Ordinary
Prv Ltd	Ptv Urd	Ptv Ltd		paid

S. 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 and ACN/ARSN (if	and the property of the first state of the first state of the company and paragraph paragraph as a paragraph o Nature of association.
applicable) . A. Martin
	NZ --------------------------------------

Addresses б.

Name	Address - --------
	-N/A

100000000000000000000000000000000000000

Signature

Print name

MARK GARETH CREASY capacity Sole Director & Secretary YANDAL INVESTMENTS FTY LTD

Sign here

A Geasy

date i 27 / 06 / 05

DIRECTIONS

If there are a number of substantial holders with similar or related relevant interests (eg. $A$ $(1)$ 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.

• See the definition of "associate" in section 9 of the Corporations Law. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B/71 of the Corporations Law. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest $(a)$ 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
• any qualification of the power of a person to exercise, control the exercise of, or influence the ÊΠ 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 Law.

• Details of the consideration must include any and all benefits, money and other, that any person ${T}$ from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that aconisition. 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.
• If the substantial holder is unable to determine the identify of the person (eg. If the relevant interest 48) arises because of an option) write "unknown".
• Give details, if appropriate, of the present association and any change in that association since the $(\Theta)$ last substantial holding notice.