MGX RESOURCES LIMITED — Major Shareholding Notification 2005

Oct 3, 2005

FORM 604 Corporations Act 2001 Section 671B

NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

To:	Company Name/Scheme		Mount Gibson Iron Limited
	ACN/ARSN	008 670 817
1.	Details of Substantial Holder(1)
	Name		Acorn Capital Limited
	ACN/ARSN (if applicable)	082 694 531
	There was a change in the interests of the subsfantial holder on		03-10-05
	The previous notice was given to the company on		17-06-05
	The previous notice was dated		17-06-05

$\overline{2}$ . 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)
Ordinarv	26.816.286	7.31%	22.666.286	6.07%

$\overline{3}$ 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 follows:

Date of Chande	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
17-06-05 to 04-10-05	Acom Capital	Sale	\$3.156.607.70	4.150.000	4.150.000

$\overline{4}$ . Present relevant interests

Particulars of each relevant interests 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
Queensland Investment Corporation	Queensland Investment Corporation			680,795	680.795
Military Superannuation & Benefits Board	National Nominees			722,823	722.823
Catholic Superannuation Fund	National Nominees			1,013,969	1,013,969
Sunsuper Fund	National Nominees			1.227.200	1,227,200
Queensland Local Government Superannuation	JP Morgan Chase Nominees			1,470,485	1,470,485
Health Super	Health Super			1.895.525	1,895,525
Qantas Superannuation	National Nominees			2.705.502	2,705,502
Commonwealth Bank Officers' Superannuation Fund	Citicorp Nominees			3,272,902	3,272,902
UniSuper	National Nominees			4,730,592	4,730,592
Acorn Capital Microcap Trust	National Nominees			4,966,493	4,966,493

$\overline{5}$ . Changes in Associates

The persons who have become associates (2) of, ceased to be associates, or have change the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follow

Name and ACN/ARSN (if applicable)	Name of Association

6, Addresses

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

Name	Address
Queensland Investment Corporation	C/O Acom Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Military Superannuation & Benefits Board	C/O Acorn Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Catholic Superannuation Fund	C/O Acorn Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Sunsuper Fund	C/O Acom Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Queensland Local Government Superannuation	C/O Acom Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Health Super	C/O Acom Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Qantas Superannuation	C/O Acorn Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Commonwealth Bank Officers' Superannuation Fund	C/O Acorn Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
UniSuper	C/O Acom Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000
Acorn Capital Microcap Trust	C/O Acorn Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000

Signature

Print Name

DOUGLAS LOH

Capacity Portfolio Manager

Sign Here

Date 04-10-05