IGO LIMITED — Major Shareholding Notification 2011

Mar 6, 2011

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

Jabiru Metals Limited ( Jabiru )

ACN/ARSN

060 620 751

1. Details of substantial holder (1)

Name Independence Group NL (ACN 092 786 304) ( Independence ) and each of the entities listed in Annexure A ACN/ARSN (if applicable) See Annexure A

There was a change in the interests of the
substantial holder on	04/03/2011
The previous notice was given to the company on	03/03/2011
The previous notice was dated	03/03/2011

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:

	Previous notice		Present notice
Class of securities (4)	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Ordinary shares	111,509,812	20.15% (based on553,304,180 ordinary shareson issue)	120,909,553	21.85% (based on553,304,180ordinary shares onissue)

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 ofchange	Person whoserelevant interestchanged	Nature ofchange (6)	Considerationgiven in relationto change (7)		Class andnumber ofsecuritiesaffected	Person’s votesaffected
			Acquisition of
			relevant interests in
			ordinary shares in
			Jabiru as a result of
	03/03/2011	Independence	acceptances oftakeover offers madeby Independencedated 28 February2011, the terms ofwhich are contained	1 ordinary share inIndependence for every 8ordinary shares in Jabiru,subject to the terms of theOffers	9,399,741 ordinaryshares		9,399,741
			in Section 11 of its
			bidder’s statement
			dated 23 February
			2011(Offers)
4. Present relevant interests
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
	relevant	holder of	to be registered	relevant		number of	Person’s votes
	interest	securities	as holder (8)	interest (6)		securities
				Relevant interest under
	Independence	Independence	Independence	section 608(1) of theCorporations Act asregistered holder of the	58,000,000 ordinaryshares		58,000,000
				shares

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	Independence	Independence	Various offerees whohave accepted anOffer	Various offerees whohave accepted anOffer	Subject to the termsof the Offers,Independence	Subject to the termsof the Offers,Independence	Relevant interest undersection 608(1) and/orsection 608(8) of theCorporations Act pursuantto acceptances of theOffers. The shares whichare the subject of theacceptances have not yetbeen transferredIndependence’s name.Independence’s power tovote or dispose of theshares the subject ofacceptances of the Offers isqualified since the Offershave not been declaredunconditional and it is notpresently registered as theholder of the shares.	62,909,553 ordinaryshares	62,909,553
5. Changes in associationThe 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 inrelation to voting interests in the company or scheme are as follows:NameandACN/ARSN(ifapplicable)Nature of associationThe companies listed in Annexure AEach company listed in Annexure A is an associate of Independence pursuant to section 12 ofthe Corporations Act as it is controlled byIndependence6. AddressesThe addresses of persons named in this form are as follows:NameAddressIndependence and each company listedin AnnexureASuite 1, 183 Great Eastern Highway, Belmont, Western AustraliaSignatureprint name Kelly RosscapacityDirector
	Name					Address
	Independence and each company listedin AnnexureA					Suite 1, 183 Great Eastern Highway, Belmont, Western Australia
Signature	print name
		print name		Kelly Ross		capacityDirector
		sign here		date04/03/2011

print name Kelly Ross	capacity	Director
sign here	date	04/03/2011

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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.

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

• (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.

• (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) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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Annexure A

This is Annexure A of 1 page referred to in Form 604 – Notice of change of interests of substantial holder signed by me and dated 4 March 2011

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_________________________ Kelly Ross Director Independence Group NL (ACN 092 786 304)

Related bodies corporate of Independence Group NL (ACN 092 786 304)

Lightning Nickel Pty Ltd (ACN 098 270 789) Karlawinda Pty Ltd (ACN 146 899 863) Newsearch Pty Ltd (ACN 142 195 701)

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