MGX RESOURCES LIMITED — Director's Dealing 2008

Sep 21, 2008

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 30/9/2001.

Name of entity	MOUNT GIBSON IRON LIMITED
ABN	87 008 670 817

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	Luke Tonkin
Date of last notice	23 April 2008

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	Not applicable
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change
No. of securities held prior to change
Class
Number acquired
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

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	Mount Gibson Iron Limited Performance Rights Plan
Nature of interest	Rights granted pursuant to the Rules of the Mount Gibson Iron Limited Performance Rights Plan. If Rights vest, the Director is entitled to be allocated one ordinary share for each Right.
Name of registered holder (if issued securities)	Not applicable
Date of change	22 September 2008
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	None
Interest acquired	66,077 Rights which may vest from 30 June 2010 or 31 December 2010 on the satisfaction of certain performance conditions, based on the company’s performance relative to comparator companies, as summarised in the notice for the 2007AnnualGeneral Meeting.
Interest disposed	Not applicable
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Nil – Shareholders approved the grant of Rights at the 2007 Annual General Meeting.
Interest after change	227,758 Rights which may vest from 30 June 2010 or 31 December 2010.

• See chapter 19 for defined terms.

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