MGX RESOURCES LIMITED — Major Shareholding Notification 2003

Feb 16, 2003

page 1/2 15 July 2001 69.7

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Mount Gibson Iron Limited
ACN/ARSN	87 008 670 817
1 Details of substantial bolder (1)

$T$ Deville in succession nomes (c)	---- _
Name	Chemco Pty Ltd &
ACN/ARSN () applicable)	। WG & BM Martin <chemco a="" cs<="" fund="" super="" u=""> .

$14/02/03$ The holder became a substantial holder on

2. Datails of voting power

k.

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 on the cate the substantial holder became a substantial holder are as follows:

----- Class of securities (4)	. . Number of securities	Person's voice 60 1.101 .	Victing power (6) . $\cdots$
Ordinary fully paid	232,302,4	78.847 -----	4% 9. .
	----	10.000

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the Tollowing voting securities on the date the substantial holder became a substantial holder are as follows:

. Holder of relevant interest	Nature of relevant interest (i)	Class and number of securities
Chemco Pty Ltd	Ordinary fully paid	20,878,847
WG & BM Martin	shares	2,200,000
kChemco Super Fund A/C>.

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be egistered as folder 贷	Class and number of securities ---
As per 3 above
	$11 - 12$ $-$	.	.

5. Consideration

The consideration paid for each referant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant	Date of acquisition	Consideration (9)		Class and number of securities.
Interest		التلما	WW ask
	All shares acquired for 9 cents cash on 14 February 2003			23,078,847
	.

$\frac{1}{2}$

الموارد والمتواطن

ł,

$603$ – page $2\bar{\imath}2/15$ July $7001$

	Name and ACN/ARSN (if applicable)	Nature of association
		Chemco Pty Ltd is owned and controlled by WG & BM Martin
		ETT METAL & JA MAKTIN
7. Addresses
	The addresses of persons named in this form are as follows:
	Name	Address
	Chemco Pty Ltd	2 Bishop Road
	$\overline{\mathsf{W}}\mathsf{G}$ & BM Martin	Dalkeith WA 6009
	Signature	DIRECTOR CHEMICO P(C capacity
	sman anna	MARTIN
	sign here	date $i4^{12}$ /03
		DIRECTIONS 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
	form.	equity trust, the names could be included it 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 hand group if the numbership of each group, with the names and addresses of manufact is clearly set out in paragraph ? of the
Ø	See the definition of "associate" in section 9 of the Corporations Act 2001.
G
		See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
阐	The voting shares of a company constitute one class unless thicked into separate classes.
Э	interest in	The total munice of votes attached to all the voting shares in the company or waing interests in the scheme (if any) that the person or an associate has a relevant
锕		The person's vates divided by the total voics in the body corporate or scheme multiplied by 100.
O.	include details of: ω	ary relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 621BM applies, a copy of any document setting out the terms of any retervent agreement, and a statement by the person giving full and accurate details of any contract. Scheme or arrangement, must accompany
	傡	this form, together with a written statement certifying this contrast, scheme or arrangement; and any qualification of the power of a person to exercise, control the exercise of, or industrie 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 socian 9 of the Corporations Act 2001.
-91		if the substantial holder is widthe to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown". Details of the consideration must include any and all benefits, manage and other, that any person from whom a relevant interest was acquired has, or mer, become entitled to renewe in relation to that acquisition. Details must be inducted even if the benefit is conditional on the hoppening or not of a contingency. Details must be