MGX RESOURCES LIMITED — Major Shareholding Notification 2006

Nov 30, 2006

04	nage 2/2	15 July 2001

	Form 604 Corporations Act 2001 Section 671B
Notice of change of interests of substantial holder Mount Gibson Iron Limited (MGI) 008 670 817 Shougang Holding (Hong Kang) Limited (Shougang Holding) ACN/ARSN (If applicable)
To Company Name/Scheme
ACN/ARSN
1. Details of substantial holder (1)
Name
There was a change in the interests of the
substantial holder on	28/11/2006
The previous notice was given to the company on	15/11/2006
The previous notice was dated	15/11/2006

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:

____	Previous notice		Present notice
Class of securities (4)	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary	68,127,843	112.22	96.127.843	115.85
----	___

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 a substantial holding notice to the company or scheme are as follows:

Date of change	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
28/11/2006	Shougang Holding	lissue of shares on acceptance of a Resources Limited	3 Aztec Resources Limited Itakeover bid for Aztecishares for each MGI share	128,000,000 ordinary Jahares	Merrill Lynch (Australia) Nominees Ltd
27/11/2006	Shougang Holding	Reduction in relevant interest as a result of the dilutive impact of lthe 41,986,285 Ishares Issued by MGII	IN/A	Shougang Holding's lentire relevant interest was affected. by the dilution	New Fortress linvestments Limited. Honest Opportunity Limited, Citigroup Nominee Pte Limited

4. Present relevant interests

Particulars of each relevant interest 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 vates
Shougang iHoldina	Citigroup Nominee Pte Timely Rich Limited Part Limited		A holder of more than 20% 19,754,646 ordinary 18,754,646 of Timely Rich Limited	Ishares

Shougang lHolding.	New Fortress ilnvestments Limited land Honest Copportunity Limited (in (in respect of land Merrill Lynch l(Australia) Nominees Ltd (in respect of 128.000.000)	iFortune Desire linvestments Limited Success Investments and Net Success Limited (in respect of linvestments Limited, (28,000,000)	1A holder of more than 20% lof Shanghai Merchants Holdings Limited, Fortune respect of 48,373,197) 48,373,197) and Net Desire Investments Limited, (Section 608(3)(a))	(76,373,197 ordinary 1 75,373,197 Ishares

5. Changes in association

The persons who have become associates (2) of, caased 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
___
_____	-- _ -- ---	. ____

6. Addresses

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

Name	Address
Shougang Holding (Hong Kong) Limited land Timely Rich Limited	7 th Floor, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong
All other parties	Ct- Shanghal Merchants Holdings Limited, Roome 2808-10, 28th Floor, 71 Des Voeux Road Central, Hong Kong ۰.

Signature

print name	Carmen Cheng for and on behalf of Sheugang (Hong Kong) Finance Company _mited w	capacity	Secretary
sign hare	⊸ ų Section	date	30/11/2006
	- 12 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 are a number of substantial metrics was seminar or tended relevant the tend reg. a corporation and to receive applicability, or the manager and
  trustee of an equity trust), the names could be included in an enmeavi is clearly set out in paragraph 6 of the form.
• See the definition of "associate" In section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $\left($ 3)
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ Include details of:

$\mu\bar{\nu}$ .

55.

• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $\boldsymbol{\mathrm{(i)}}$ of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the $(b)$ securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification appiles).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

Details of the consideration must include any and all 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 $\sigma$ are not paid directly to the person from whom the relevant interest was acquired.

$\ddot{\phantom{a}}$

If the substantial holder is unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write "unknown", $\left(8\right)$

Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $\boldsymbol{\Theta}$