MGX RESOURCES LIMITED — Major Shareholding Notification 2005

Mar 30, 2005

$\overline{1}$

Link Traders (Aust) Pty Ltd

ABN 40002065849 Suite 405 25 Lime Street Sydney NSW 2000

Tel: 02 8235 1111 - Fax: 02 8235 1122

23 March 2005

Australian Stock Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

Please find attached the Notice of ceasing to be a substantial holder - Form 605 - required by the Corporations Act 2001 Section 671B for the holding of Link Traders (Aust) Pty Limited with respect to Mount Gibson Iron Limited.

I apologise for the incorrect submission of a Form 604 instead of the correct Form 605.

Yours sincerely

Laurence Freedman

$\overline{1}$

Form 605

Corporations Act Section 671B

Notice of ceasing to be a substantial holder

Mount Gibson Iron Limited To ABN 87 008 670 817

14 Outram Street West Perth Western Australia 6005

1. Details of substantial holder (1)

Link Traders (Aust) Pty Ltd

ABN 40 002 065 849

The holder ceased to be a substantial holder on 15/3/2005 2/10/2002 The previous notice was given to the company on 2/10/2002 The previous notice was dated

1. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 (4)	Consideration ' given in relation to change $(5)$	Class(6) and number of securities aifected	Person's votes affected
-------------------	-------------------------------------------	------------------------------	---------------------------------------------------------	--------------------------------------------------------	----------------------------

See Annexure A

1. 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 follows:

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

None

$\hat{\mathbf{v}}$

$\overline{\phantom{a}}$

$\begin{array}{c} \hline \end{array}$

$\begin{array}{c} \hline \end{array}$ $\mathbf{r}$

$\bar{z}$

$\bar{1}$

٦

$\overline{\phantom{a}}$

$\mathbb{I}$

$\overline{1}$

$\mathcal{L}$

1. Addresses

The addresses of persons named in this form are:

Name	Address
Link Traders (Aust) Pty Ltd	$= \cdot$ $\overline{\dashv}$ $\mid$ Unit 405, 25 Lime St, Sydney, 2001______

Signature

Print name Laurence S. Freedman

Capacity Director

Sign here

23/3/2005 Date

Amnexure A								Page 1
	ACQUISITION / DISPOSAL OF MOUNT GIBSON IRON LIMITED ORDINARY SI	HARES
	Person whose relevant interest changed Date of Change	Nature of Change	Number of Ordinary shares affected	given in relation Consideration	Holding	% Holding	Person's Voles attecled
reported on record with ASX Previous shareholding	2/10/2002 Link Traders (Aust) Phy Ltd				6,725,000	5.33%
Change in holding	10/03/2005 Link Traders (Aust) Ply Ltd 1/03/2005 Link Traders (Aust) Pty Ltd 5/03/2005 Link Traders (Aust) Pty Ltd 4/03/2005 Link Traders (Aust) Pty Ltd 7/03/2005 Link Traders (Aust) Ply Ltd 203/2005 Link Traders (Aust) Pty Ltd 3/03/2005 Link Traders (Aust) Pty Ltd 23/02/2005 Link Traders (Aust) Pty Ltd 2/03/2005 Link Traders (Aust) Ply Ltd 2/03/2005 Link Traders (Aust) Ply Ltd 23/10/2002 Link Traders (Aust) Ply Ltd 21/01/2003 Link Traders (Aust) Pty Ltd 25/02/2003 Link Traders (Aust) Pty Ltd Ξ 20/10/2003 Link Traders (Aust) Ply	market acquisition market disposal Rights Issue 1 for 1 Off market acquisiti Acquisition on ASX posal on ASX Disposal on ASX Disposal on ASX Disposal on ASX Disposal on ASX Disposal on ASX Disposal on ASX Disposal on ASX Disposal on ASX Disposal on ASX $\overline{5}$ å	500,000 500,000 -250,000 -500,000 $-1,000,000$ $-1,000,000$ -200,000 $-1,000,000$ -300,000 1,000,000 7,331,940 80,000 500,000 GDS.340	\$223,762.50 \$382,002.50 \$394,816.50 \$700,713.10 \$662,512.69 \$701,122.50 \$338,130.00 \$217,795.50 \$145,197.00 \$18,800.00 \$6,567.29 \$542,002.50 \$659.874.50 \$97,644.51	7,993,860 8743,880 8,243,880 9,243,880 11,243,880 10,243,880 12,943,880 13,243,880 12,743,880 11,743,880 14,243,880 14,063,880 7,331,940 14,743,880	231% 2.61% 2.52% 236% 3.39% 3.24% 2.95% 3.67% 3.82% 3.73% 4.25% 4.11% 4.23% 2.11%	0.07% $-0.14%$ 0.29% $-0.14%$ $-0.29%$ $-0.14%$ $-2.2\%$ 0.09% $-0.00%$ $-0.14%$ -0.29% 0.02% 2.11% 3.22%
Total Holding					7 993,880		$-3.02%$
Current Total Issued Share Capital					346,803,093
% Holding					2.31%
	This is Annexure A of 1 page referred to in Form 605 - Notice of ceasing to be a substantial holder		Dale: 23 March 2005

$\tilde{\mathbf{v}}$

$\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\bar{\$

$\bar{\rm I}$

$\bar{\alpha}$

$\bar{1}$

$\overline{\phantom{a}}$

$\bar{1}$

l.

$\frac{1}{4}$

$\bar{\rm T}$