MACRO METALS LIMITED — Director's Dealing 2020

Jan 5, 2020

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Nigerian Subsidiary
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6 January 2020

RE-LODGEMENT OF APPENDIX 3Y

Kogi Iron Limited (ASX: KFE) (“Kogi”, “Kogi Iron” or the “Company”) advises that it is re-lodging an Appendix 3Y for Mr Don Carroll. The “Date of Change” shown in the Appendix 3Y has been updated to show the correct date of change of 30 December 2019.

For and on behalf of the Board

Kevin Hart Company Secretary

For more information, please contact: Kogi Iron Limited Tel (office): +61 8 9200 3456 Email: info@kogiiron.com

	KFE Capital Summary Ordinary Shares: 774,061,174 Listed Options: 142,328,948 Performance Rights: 26m Share price: $0.065 Market capitalisation:$50m	Board of Directors Mr Greg Boulton AM –Non-Executive Chairman Mr David Turvey –Managing Director Mr Don Carroll –Non-Executive Director Mr Peter Huljich –Non-Executive Director	Contact Unit 23, 4 Ventnor Avenue, West Perth WA 6005 Tel: +61 8 9200 3456 Email:info@kogiiron.com W: www.kogiiron.com

About Kogi Iron (ASX: KFE)

Kogi Iron Limited is a Perth-based company with the objective of becoming a producer of cast steel billet product that can be sold to fabricators of finished steel products through the development of its 100% owned Agbaja Cast Steel project located in Kogi State, Republic of Nigeria, West Africa (“Agbaja” or “Agbaja Project”).

Nigeria has substantial domestic demand for steel products, which is currently met largely through imports of scrap steel raw materials. The Agbaja project, located on the Agbaja plateau approximately 15km northwest of Lokoja city in Kogi State and 200km southwest of Abuja, the capital city of Nigeria, opens the opportunity for domestic production of steel.

The Company holds a land position which covers a large part of the Agbaja Plateau. The Agbaja Plateau hosts an extensive, shallow, flat-lying channel iron deposit with an Indicated and Inferred Mineral Resource of 586 million tonnes with an in-situ iron grade of 41.3% reported in accordance with the JORC Code (2012). This mineral resource covers approximately 20% of the prospective plateau area within ML24606 and ML24607.

Table 1 – Summary Grade and Tonnage for Agbaja Iron Ore Resource

Laterite (Zone A) and Oolitic (Zone B) Horizons (20% Fe lower cut off is applied) Refer ASX announcement 10 December 2013.

Classification	Tonnes (Mt)	Fe (%)
Zone A(Laterite Mineralisation)
Indicated	147.5	33.2
Inferred	33.9	31.7
Total Indicated + Inferred (Zone A)	181.4	32.9
Zone B(Oolitic Mineralisation)
Indicated	318.7	45.2
Inferred	86.3	44.7
Total Indicated + Inferred (Zone B)	405.0	45.1
Combined Zone A and Zone B
Total Indicated	466.2	41.4
Total Inferred	120.1	41.1
Total Indicated + Inferred	586.3	41.3

The Company confirms that it is not aware of any information or data that materially affects the information included in the original market announcements and, in the case of estimated Mineral Resources, which all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	KOGI IRON LIMITED
ABN	28 001 894 033

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Don Carroll
Date of last notice	3 July 2019

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	DA & LM Superannuation Fund Pty Ltd (the trustee of a superannuation fund of which Mr Carroll is a trustee and beneficiary)
Date of change	30 December 2019
No. of securities held prior to change	Direct: 1,518,013 ordinary shares and 303,603 Listed options exercisable at $0.10 on or before 31 December 2021. Indirect: DA & LM Carroll Superannuation Fund 4,577,777 ordinary shares and 915,556 Listed options exercisable at $0.10 on or before 31 December 2021.
Class	Fully paid ordinary shares
Number acquired	5,952,381
Number disposed	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	4.03 cents per share
No. of securities held after change	Direct: 7,470,394 ordinary shares and 303,603 Listed options exercisable at $0.10 on or before 31 December 2021. Indirect: DA & LM Carroll Superannuation Fund 4,577,777 ordinary shares and 915,556 Listed options exercisable at $0.10 on or before 31 December 2021.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	The shares were issued by Kogi as settlement of overdue director fees owing

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	n/a
Nature of interest	n/a
Name of registered holder (if issued securities)	n/a
Date of change	n/a
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	n/a
Interest acquired	n/a
Interest disposed	n/a
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	n/a
Interest after change	n/a

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above No traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade to n/a proceed during this period?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

If prior written clearance was provided, on what date was this n/a provided?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3