Metals X Limited — Major Shareholding Notification 2016

Nov 28, 2016

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme METALS X LTD ACN/ARSN 110 150 055

1. Details of substantial holder(1)

Name	BlackRock	Group (BlackRock Inc. and subsidiaries named in Annexures	Group (BlackRock Inc. and subsidiaries named in Annexures	Group (BlackRock Inc. and subsidiaries named in Annexures
ACN/ARSN (if applicable)	to this	form)
There was a change in the interests of the
substantial holder on		25	/ / 11	2016
The previous notice was given to the company on		07	/ / 11	2016
The previous notice was dated		03	/ / 11	2016

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)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ord	78,615,447	12.97	84,681,766	13.97

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
	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
	See Annexure B

604 page 2/2 15 July 2001

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:

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Name and ACN/ARSN (if applicable) Nature of association
Name Address
Annexure C
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6. Addresses

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

Signature

print name Kayla Mulvihill capacity *Authorised Signatory sign here date 29 / 11 / 2016

• At a meeting of the Board on 22 November 2013, the Directors resolved to approve the delegation of the preparation and lodgement of substantial shareholder notices on behalf of BlackRock Investment Management (Australia) Limited.

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, becom`e 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.

• (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.

Annexure A

This is Annexure A of 2 pages referred to in form 604 Notice of change of interests of substantial shareholder

Kayla Mulvihill, Authorised Signatory

29-Nov-16 Date

5. Consideration

METALS X LTD (MLX)

Date of Change	Person whose relevant interest changed	Nature of change Consideration given in change (7)	(6) / relation to	CCY	Class and number of securities affected	Class and number of securities affected	Person's votes affected
04-Nov-16	BlackRock Investment Management, LLC	on mkt sell	1.53	AUD	ord	-8,900	-8,900
04-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.50	AUD	ord	6,568	6,568
	Limited
04-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.51	AUD	ord	142,918	142,918
	Limited
04-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.51	AUD	ord	223,913	223,913
	Limited
04-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.51	AUD	ord	464,483	464,483
	Limited
04-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.50	AUD	ord	4,914	4,914
04-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.51	AUD	ord	68,896	68,896
	Limited
04-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.50	AUD	ord	1,639	1,639
04-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.51	AUD	ord	17,200	17,200
04-Nov-16	BlackRock Fund Advisors	in specie	n/a	AUD	ord	17,964	17,964
04-Nov-16	BlackRock Fund Advisors	in specie	n/a	AUD	ord	26,946	26,946
04-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.51	AUD	ord	35,679	35,679
04-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.51	AUD	ord	51,542	51,542
04-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.51	AUD	ord	106,920	106,920
04-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.50	AUD	ord	21,348	21,348
	Limited
07-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	59,647	59,647
07-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	19,904	19,904
07-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	259,120	259,120
	Limited
07-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	79,730	79,730
	Limited
08-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	61,931	61,931
	Limited
08-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	53,424	53,424
08-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	14,256	14,256
08-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	4,757	4,757
08-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	17,828	17,828
08-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	232,086	232,086
	Limited
08-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	19,056	19,056
	Limited
08-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	71,411	71,411
	Limited
09-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	4,781	4,781
09-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.59	AUD	ord	171,959	171,959
	Limited
09-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.46	AUD	ord	171,501	171,501
	Limited
09-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	6,391	6,391
	Limited
09-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.46	AUD	ord	42,818	42,818
09-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.59	AUD	ord	42,932	42,932
09-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.46	AUD	ord	128,303	128,303
09-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.59	AUD	ord	128,645	128,645
09-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.46	AUD	ord	557,378	557,378
	Limited
09-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.59	AUD	ord	558,864	558,864
	Limited
09-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.47	AUD	ord	1,596	1,596
09-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.47	AUD	ord	20,769	20,769
	Limited
10-Nov-16	BlackRock Fund Advisors	in specie	n/a	AUD	ord	24,200	24,200
10-Nov-16	BlackRock Japan Co., Ltd.	on mkt buy	1.59	AUD	ord	25,839	25,839

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Date of Change	Person whose relevant interest changed	Nature of change Consideration given in change (7)	(6) / relation to	CCY	Class and number of securities affected	Class and number of securities affected	Person's votes affected
10-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.59	AUD	ord	103,497	103,497
	Limited
10-Nov-16	BlackRock Japan Co.,Ltd.	on mkt buy	1.59	AUD	ord	77,427	77,427
10-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.59	AUD	ord	336,365	336,365
	Limited
11-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.60	AUD	ord	121,866	121,866
	Limited
15-Nov-16	BlackRock Institutional Trust Company,	on mkt buy	1.43	AUD	ord	12,934	12,934
	National Association
16-Nov-16	BlackRock Institutional Trust Company,	in specie	n/a	AUD	ord	-25,785	-25,785
	National Association
16-Nov-16	BlackRock Fund Advisors	in specie	n/a	AUD	ord	19,360	19,360
16-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.45	AUD	ord	570,000	570,000
	Limited
16-Nov-16	BlackRock Institutional Trust Company,	in specie	n/a	AUD	ord	25,785	25,785
	National Association
16-Nov-16	BlackRock Institutional Trust Company,	on mkt buy	1.42	AUD	ord	12,851	12,851
	National Association
16-Nov-16	BlackRock Fund Advisors	in specie	n/a	AUD	ord	7,260	7,260
17-Nov-16	BlackRock Institutional Trust Company,	on mkt buy	1.46	AUD	ord	13,276	13,276
	National Association
17-Nov-16	BlackRock Investment Management	on mkt sell	1.46	AUD	ord	-127,423	-127,423
	(Australia)Limited
17-Nov-16	BlackRock Institutional Trust Company,	in specie	n/a	AUD	ord	-13,276	-13,276
	National Association
17-Nov-16	BlackRock Investment Management (UK)	on mkt buy	1.45	AUD	ord	500,000	500,000
	Limited
17-Nov-16	BlackRock Institutional Trust Company,	in specie	n/a	AUD	ord	13,276	13,276
	National Association
18-Nov-16	BlackRock Institutional Trust Company,	on mkt buy	1.37	AUD	ord	115,504	115,504
	National Association
22-Nov-16	BlackRock Institutional Trust Company,	on mkt buy	1.39	AUD	ord	3,517	3,517
	National Association
22-Nov-16	BlackRock Advisors,LLC	on mkt sell	1.40	AUD	ord	-10,287	-10,287
23-Nov-16	BlackRock Investment Management, LLC	on mkt buy	1.48	AUD	ord	69,876	69,876
23-Nov-16	BlackRock Investment Management	on mkt buy	1.48	AUD	ord	45,702	45,702
	(Australia)Limited
23-Nov-16	BlackRock Advisors,LLC	on mkt buy	1.48	AUD	ord	151,311	151,311
23-Nov-16	BlackRock Advisors,LLC	on mkt buy	1.48	AUD	ord	34,497	34,497
24-Nov-16	BlackRock Advisors,LLC	on mkt buy	1.47	AUD	ord	20,189	20,189
24-Nov-16	BlackRock Institutional Trust Company,	on mkt buy	1.46	AUD	ord	3,733	3,733
	National Association
24-Nov-16	BlackRock Advisors,LLC	on mkt buy	1.47	AUD	ord	4,603	4,603
24-Nov-16	BlackRock Investment Management, LLC	on mkt buy	1.47	AUD	ord	9,324	9,324
24-Nov-16	BlackRock Investment Management	on mkt buy	1.47	AUD	ord	6,098	6,098
	(Australia)Limited
25-Nov-16	BlackRock Institutional Trust Company,	on mkt buy	1.51	AUD	ord	3,683	3,683
	National Association

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This is Annexure B of 2 pages referred to in form 604 Notice of change of interests of substantial shareholder

Annexure B

29-Nov-16 Kayla Mulvihill, Date Authorised Signatory

4. Details of present registered holders

Holder of Relevant Interests	Registered Holder of Securities	Person entitled to be registered as holder (8)	Nature of Relevant Interest (6)	Class and number of Securities	Class and number of Securities	Person's votes	Nature of Association
BlackRock (Netherlands)	SSB-SSB NEW YORK		Power to control the exercise of a right to vote attached to	ord	51,935	51,935	Subsidiary of
B.V.	INSTITUTIONAL		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock (Singapore)	SSB-STATE STREET		Power to control the exercise of a right to vote attached to	ord	925,600	925,600	Subsidiary of
Limited	SINGAPORE		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Advisors (UK)	STATE STREET BANK,		Power to control the exercise of a right to vote attached to	ord	22,292	22,292	Subsidiary of
Limited	MUNICH, ZURICH		securities and/or the power to dispose of securities as				BlackRock, Inc.
	BRANCH		investment manager or trustee.
BlackRock Advisors, LLC	BBH-BROWN BROTHERS		Power to control the exercise of a right to vote attached to	ord	5,281,537	5,281,537	Subsidiary of
	HARRIMAN & CO - NEW		securities and/or the power to dispose of securities as				BlackRock, Inc.
	YORK		investment manager or trustee.
BlackRock Advisors, LLC	BNYM-THE BANK OF		Power to control the exercise of a right to vote attached to	ord	272,195	272,195	Subsidiary of
	NEW YORK		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Capital	SSB-SSB NEW YORK		Power to control the exercise of a right to vote attached to	ord	185,735	185,735	Subsidiary of
Management, Inc.	INSTITUTIONAL		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Financial	BNYM-THE BANK OF		Power to control the exercise of a right to vote attached to	ord	7,689	7,689	Subsidiary of
Management, Inc.	NEW YORK		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Fund Advisors	SSB-STATE STREET		Power to control the exercise of a right to vote attached to	ord	62,957	62,957	Subsidiary of
	BANK, BOSTON		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Fund Advisors	SSB-STATE STREET		Power to control the exercise of a right to vote attached to	ord	4,162,871	4,162,871	Subsidiary of
	SACRAMENTO		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Institutional	BNYM-THE BANK OF		Power to control the exercise of a right to vote attached to	ord	17,057	17,057	Subsidiary of
Trust Company, National	NEW YORK		securities and/or the power to dispose of securities as				BlackRock, Inc.
Association			investment manager or trustee.
BlackRock Institutional	JPM-JP MORGAN CHASE		Power to control the exercise of a right to vote attached to	ord	81,373	81,373	Subsidiary of
Trust Company, National	- NEW YORK		securities and/or the power to dispose of securities as				BlackRock, Inc.
Association			investment manager or trustee.
BlackRock Institutional	SSB-SSB NEW YORK		Power to control the exercise of a right to vote attached to	ord	425,971	425,971	Subsidiary of
Trust Company, National	INSTITUTIONAL		securities and/or the power to dispose of securities as				BlackRock, Inc.
Association			investment manager or trustee.
BlackRock Institutional	SSB-STATE STREET		Power to control the exercise of a right to vote attached to	ord	1,760,519	1,760,519	Subsidiary of
Trust Company, National	SACRAMENTO		securities and/or the power to dispose of securities as				BlackRock, Inc.
Association			investment manager or trustee.
BlackRock International	BNYM-BANK OF NY		Power to control the exercise of a right to vote attached to	ord	5,528,097	5,528,097	Subsidiary of
Limited	BRUS		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	JPM-JPM CHASE -		Power to control the exercise of a right to vote attached to	ord	25,710	25,710	Subsidiary of
Management (Australia)	SYDNEY		securities and/or the power to dispose of securities as				BlackRock, Inc.
Limited			investment manager or trustee.
BlackRock Investment	NAB-NATIONAL		Power to control the exercise of a right to vote attached to	ord	110,801	110,801	Subsidiary of
Management (Australia)	AUSTRALIA BANK		securities and/or the power to dispose of securities as				BlackRock, Inc.
Limited	LIMITED - MELBOURNE		investment manager or trustee.

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Holder of Relevant Interests	Registered Holder of Securities	Person entitled to be registered as holder (8)	Nature of Relevant Interest (6)	Class and number of Securities	Class and number of Securities	Person's votes	Nature of Association
BlackRock Investment	BNP-BNP PARIBAS		Power to control the exercise of a right to vote attached to	ord	1,486,367	1,486,367	Subsidiary of
Management (UK) Limited	JERSEY		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	BNYM-BANK OF NY		Power to control the exercise of a right to vote attached to	ord	137,827	137,827	Subsidiary of
Management (UK) Limited	BRUS		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	BNYM-BONY EUROPE -		Power to control the exercise of a right to vote attached to	ord	11,912,994	11,912,994	Subsidiary of
Management (UK) Limited	LONDON		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	BNYM-BONY		Power to control the exercise of a right to vote attached to	ord	37,965,805	37,965,805	Subsidiary of
Management (UK) Limited	LUXEMBOURG		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	BOA-MERRILL LYNCH		Power to control the exercise of a right to vote attached to	ord	297,494	297,494	Subsidiary of
Management (UK) Limited	INTL PRIME BROKER -		securities and/or the power to dispose of securities as				BlackRock, Inc.
	NEW YORK		investment manager or trustee.
BlackRock Investment	CITI-CITIBANK, LONDON		Power to control the exercise of a right to vote attached to	ord	1,857,799	1,857,799	Subsidiary of
Management (UK) Limited			securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	HSBC-HSBC		Power to control the exercise of a right to vote attached to	ord	1,527,239	1,527,239	Subsidiary of
Management (UK) Limited	DUSSELDORF		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	BNYM-BONY		Power to control the exercise of a right to vote attached to	ord	1,925,260	1,925,260	Subsidiary of
Management, LLC	LUXEMBOURG		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Japan Co., Ltd.	BBH-BROWN BROTHERS		Power to control the exercise of a right to vote attached to	ord	6,595,607	6,595,607	Subsidiary of
	HARRIMAN & CO - NEW		securities and/or the power to dispose of securities as				BlackRock, Inc.
	YORK		investment manager or trustee.
BlackRock Japan Co., Ltd.	JPM-JP MORGAN CHASE		Power to control the exercise of a right to vote attached to	ord	39,238	39,238	Subsidiary of
	- NEW YORK		securities and/or the power to dispose of securities as				BlackRock, Inc.
			investment manager or trustee.
BlackRock Investment	JPM-JP MORGAN CHASE		Power to control the exercise of a right to vote attached to	ord	1,253,471	1,253,471	Subsidiary of
Management (Australia)	- NEW YORK		securities and/or the power to dispose of securities held in				BlackRock, Inc.
Limited			its capacityas responsible entity.
BlackRock Investment	JPM-JPM CHASE -		Power to control the exercise of a right to vote attached to	ord	760,326	760,326	Subsidiary of
Management (Australia)	SYDNEY		securities and/or the power to dispose of securities held in				BlackRock, Inc.
Limited			its capacityas responsible entity.

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Annexure C

This is Annexure C of 1 page referred to in form 604 Notice of change of interests of substantial shareholder

29-Nov-16

Kayla Mulvihill, Date Authorised Signatory

7. Addresses

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

Name	Address
BlackRock Group
BlackRock Inc.	55 East 52nd Street
	New York NY 10055 USA
BlackRock (Netherlands) B.V.	Rembrandt Tower, 17th floor
	Amstelplein
	Amsterdam Netherlands
BlackRock (Singapore) Limited	20 Anson Road #18-01
	079912 Singapore
BlackRock Advisors (UK) Limited	12 Throgmorton Avenue.
	London, EC2N 2DL,
	United Kingdom
BlackRock Advisors, LLC	1209 Orange Street,
	Wilmington, New Castle County,
	Delaware 19801,United States
BlackRock Capital Management, Inc.	1209 Orange Street,
	Wilmington, New Castle County,
	Delaware 19801,United States
BlackRock Financial Management, Inc.	1209 Orange Street,
	Wilmington, New Castle County,
	Delaware 19801,United States
BlackRock Fund Advisors	400 Howard Street
	San Francisco, CA, 94105
	United States
BlackRock Institutional Trust Company, National	1225 17th Street,
Association	Suite 300,
	Denver,CO 80202(Colorado,USA)
BlackRock International Limited	Exchange Place One,
	1 Semple Street,
	Edinburgh, EH3 8BL,
	United Kingdom(Scotland, United Kingdom)
BlackRock Investment Management (Australia) Limited	Level 26, 101 Collins Street
	Melbourne VIC 3000
	Australia(Victoria,Australia)
BlackRock Investment Management (UK) Limited	12 Throgmorton Avenue
	London EC2N 2DL
	United Kingdom
BlackRock Investment Management, LLC	1209 Orange Street,
	Wilmington, New Castle County,
	Delaware 19801,United States
BlackRock Japan Co., Ltd.	Marunouchi Trust Tower Main,
	1-8-3 Marunouchi,
	Chiyoda-ku,Tokyo 100-8217(Japan)

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