METRO MINING LIMITED — Major Shareholding Notification 2012

Jul 16, 2012

Form 604

Corporations Law Section 671B

Notice of change of interests of substantial holder

To: Company Name/Scheme	Metrocoal Ltd
ACN/ARSN	117 763 443
1. Details of substantial holder
Name		Bank of America Corporation and its related bodies corporate
ACN/ARSN (if applicable):
There was a change in the interests of the substantial holder on		12 July 2012
The previous notice was given to the company on		14 May 2012

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		Present Notice
	Person's Votes	Voting Power (5)	Person's Votes	Voting Power (5)
Ordinary	21,510,000	10.30%	13,900,723	6.65%

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
Please see Annexure A.

4. Present relevant interests

Holder of relevant interest	Registered holder of securities	Person entitled to be registered holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Merrill Lynch International (Australia) Ltd	MLEQ Nominees Pty Limited	Merrill Lynch International (Australia) Ltd	Borrowing of securities pursuant to a Prime Brokerage Agreement (see Appendix)	Ordinary 12,390,723	12,390,723
Merrill Lynch (Australia) Futures Ltd	Merrill Lynch (Australia) Nominees Pty Ltd	Merrill Lynch (Australia) Futures Ltd	Beneficial Owner	Ordinary 1.510.000	1.510.000

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

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 fo

Name and ACN/ ARSN (if applicable)	Nature of association
N/A	N/A

6. Addresses

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

Name	Address
Bank of America Corporation	100 North Tryon Street, Charlotte, North Carolina, 28255, USA
Merrill Lynch (Australia) Futures Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000, Australia
Merrill Lynch International (Australia) Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000. Australia
Merrill Lynch International	2 King Edward Street, London EC1A 1HQ, United Kingdom
Merrill Lynch (Australia) Nominees Pty Ltd	Level 19, 120 Collins St, Melbourne Vic 3000, Australia
MLEQ Nominees Pty Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW
	2000. Australia

SIGNATURE

	Print Name: Fiona Cheng	Capacity: Authorised signatory
Sign Here:	$\mathscr{L}$	Date: 16 July 2012

Annexure A

Date of change Person whose relevant interest changed	Nature of change (4)	Consideration (5)	Class (6) of securites	Securities affected	Person's votes latfected
16-May-12 Merrill Lynch International	Securities borrowed	N/A	IOrdinary	6,716,000	6 716,000
16-May-12 Merrill Lynch International	Securities returned l	N/A	Ordinary	(540,000)	(540,000)
18-May-12 Merrill Lynch International	Securities borrowed	N/A	IOrdinary	540,000	540,000
21-May-12 Merrill Lynch International	Securities borrowed	N/A	IOrdinary	6,716,000	6716,000
21-May-12 Merrill Lynch International	Securities returned	N/A.	IOrdinary	(6, 176, 000)	(6.176,000)
21-May-12 Merrill Lynch International	Securities returned		N/A Ordinary	(540,000)	(540,000)
23-May-12 Merrill Lynch International	Securities returned		N/A lOrdinarv	(540.000)	(540,000)
31-May-12 Merrill Lynch International	Securities returned		N/A (Ordinary	(6, 176, 000)	(6, 176, 000)
12-Jun-12 Merrill Lynch International	Securities borrowed		N/A Ordinary	20,000,000	20,000,000
15-Jun-12 Merrill Lynch International	Securities returned	N.A	Ordinary	(20,000,000)	(20,000,000)
16-May-12 Merrill Lynch International (Australia) Ltd	Securities borrowed	N/A	Ordinary	540,000	540,000
16-May-12 Merrill Lynch International (Australia) Ltd	Securities returned	N/A	Ordinary	(6.716.000)	(6.716,000)
31-May-12 Merrill Lynch International (Australia) Ltd	Securities borrowed	N.A	Ordinary	6,176.000	6,176,000
12-Jun-12 Merrill Lynch International (Australia) Ltd	Securities returned		N/A Ordinary	(13,284.000)	(13.284,000)
12-Jun-12 Merrill Lynch International (Australia) Ltd	Securities returned	N.A	Ordinary	(540,000)	(540,000)
12-Jun-12 Merrill Lynch International (Australia) Ltd	Securities returned	N/A	Ordinary	(6, 176, 000)	(6, 176, 000)
15-Jun-12 Merrill Lynch International (Australia) Ltd	Securities borrowed		N/A Ordinarv	20,000,000	20,000,000
12-Jul-12 Merrill Lynch International (Australia) Ltd	Securities returned		N/A Ordinary	(7.609.277)	(7.609.277)

Appendix: Prescribed information

Type of agreement	Prime Brokerage Agreement / Global Master Securities Lending Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Mathews Capital Partners Pty Limited as Trustee of the Sabre Fund	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Mathews Capital Partners Pty Limited as Trustee of Velocity Fund	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Mathews Capital Partners Pty Limited as Trustee of The Peak Energy and Global Resources Fund
Transfer date	For the period from 11 May 2012 to 12 July 2012.
Holder of voting rights	on securities.		Securities borrower. Securities lender may instruct the registered holder to vote
Are there any restrictions on voting rights?	No.
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail		Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail		Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	$\overline{\text{Yes}}$
If yes, detail any exceptions	N/A