MGX RESOURCES LIMITED — Major Shareholding Notification 2004

Dec 28, 2004

604 page 1/2 24 December 2004

Corporations Act 2001

Saction 671B

Notice of change of Interests of substantial holder

Ϊo	Company Name/Scheme	Mount Gibson Iron Limited
AON/ARSN		008 670 817
1.	Datalle of substantial holder (1)
Name		Sinom (Hong Kong) Limited Group (see Annexure A)
	ACNIARSN (if applicable)	Not Applicable,
holder on	There was a change in the interests of the substantial	22/12/04
	The previous notice was given to the company on	18/10/04
	The previous notice was dated	12/10/04

Provious and present voting pawer $\mathbf{2}$

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) nod a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or schame, are as follows:

Oasa of securities (4)	Previous notice		Present notice
	Person's voles	Voting power (5)	Person's votes	Voling power (8)
Ordinary Shares	21.840.000	8,00%	31.027.200	10.69% of 290,260,266
				aharea

Changes in relevant interests 3.

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an accociate 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 tollows:

Date of change	Person whose relevant interest changed	Neture of change (6)	Consideration given in relation to change(7)	Class and number of securities affacted	Person's votes affected
22/12/04	Sinom (Hong Kong) Limited Group	Power to control the exercise of a pawer to dispose of crdinary shares	Security for loan granted by Sinom Investments Limited to Asia Iron Holdings Limited	10,000,000 ordinary ahares	Sinom (Hong Kong) Limited Croup

Present relevant interests 4,

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

Holder of relavant interest	Registered holder of securities	Person entitled to be registered as holder (0)	Nature of relevent interest (6)	Clase and number of securites	Porson's votes
Sinom (Hong Kong) Limited Grup	Asia Iron Holdings Limited	Sinom Investmenta Limited	Power to control the exercise of a power to dispose of ordinary chares.	10,000,000 ordinary shares	10.000,000
Sinom (Hong Kong) Limited Grana	Sinom (Hong) Kong Limited	٠		21,027,200	21.027.200

$\blacksquare$ Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have ohenged the nature of their association (8) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

__ . Амылфсы іу Name - - - - - .	. ------- _____ ١m in Admin. лπ	---- ------- --- . ---	--- $$
--------------------------------------- ________	Minexure A 506 ----------	----	----------- -----

Addresses ₿.

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

Name	Address
Sinom (Hong Kong) Limited Group	680 Annoxura A
Asia iron Holdings Limited	Unit 1301, 13/F, Shui On Centre, 6-8 Harbour Road, Wanchai, Hong Kong

Sinnature

print namo	$Z$ HANG CHI		oapacity	Director
sign here	Amhythang		delle		24, 204
		DIRECTIONS

• $(1)$ lf ther ahi in of an equity truet), the names could be included in an annexure to the form. If the relevant interests of a group of persone are essentially similar, they may be referred to throughout the form as a specifically nemed 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 essociate' in section 9 of the Corporations Law.
• ß) See the definition of 'relevent interest' in eactions 608 and 671B(7) of the Corporations Law.
• 14 The voting shares of a company constitute one class unless divided into separate classes.
• $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• (6) Include details of:
• (9) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a sistement by the person giving full and accurate detaile of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• Ы. any qualification of the power of a parson to exercise, control the exercise of, or influence the exercise of, the voting powers or dispossi of the securities to which the relavant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of irelevant agreement in section 9 of the Corporations Low.

• Detalls of the consideration must include any and oil benefits, money and other, that any person from whom a relevant interest was acquired has, or may.
  become entitled to receive in relation to that acquisition. Details m $\left{ \mathcal{D}\right}$ 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 accuired.
• 側 If the substantial helder is unable to determine the identity of the person (eg if the relevant interest arises because of en option) write 'unknown'.
• Give details, if eppropriate, of the present association and any change in that association since the lost substantial holding notice. (0)

MOUNT GIBSON IRON LIMITED ACN 008 670 817

This is Annexure A of 1 page referred to in Form 604, Notice of Change of Interests of Substantial Holder being the members of the Sinom (Hong Kong) Limited Group having a relevant interest in shares in Mount Gibson Iron Limited under section 608 of the Corporations Act 2001.

Name	Address	Nature of relevant interest
Sinom (Hong Kong) Limited	Room 606, Tower One, Lippo Centre, 89	Holder of shares in Mount Gibson Iron Limited
	Queensway, Hong Kong	Associate of Smom Investments Limited
Sinom Investments Limited	Room 606, Tower One, Lippo Centre, 89 Queensway, Hong Kong	Power to control the exercise of a power to dispose of ordinary shares in Mount Gibson Iron Limited
		Associate of Sinom (Hong Kong) Limited
Zhang Chi	Room 606, Tower One, Lippo Centre, 89 Queensway, Hong Kong	Controlling entity - holds 99% of Sinom (Hong Kong) Limited and 100% of Sinom Invostments Limited

24 December 2004

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Signed by: $[ZHANG $CH1$ ]$ Director Sinom (Hong Kong) Limited Date