MGX RESOURCES LIMITED — Major Shareholding Notification 2007

Jul 30, 2007

605 GUIDE.	page 1/1 - 13 March 2000 -

Company Secretary

свресту

	Form 605 Corporations Act 2001 Section 671B
	Notice of ceasing to be a substantial holder
To Company Name/Scheme	Mount Gibson Iron Limited
ACN/ARSN	008 670 817
Details of substantial holder (1)
Name ACN/ARSN (if applicable)	Shougang Holding (Hong Kong) Limited (Shougang)
The holder ceased to be a substantial holder on The previous notice was given to the company on The previous notice was dated	20/07/2007 02/05/2007 02/05/2007

2. 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 apsociate (3) in voting securities of the company or
acheme, since the substantial holder was test required

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)		Class (6) and Inumber of securities affected	Person's votes affected
120/07/2007	Shougang	Shougang's relevant interest ceased by reason of its interest in APAC Resources. Limited falling below l20% due to dilution following the issue of 665,000,000 shares try APAC on 20 July 12007.	N/A		150.083.521 Ordinary Shares	150 083 521

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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 $\cdots$	__ ____
------------
.

The address

es of defsorts named in this form are as follows:
Name	Address
Shougang ----	Wanchai, Hong Kong		7 th Floor, Bank of Asia Harbour View Centre, 56 Gloucester Road,

Signature

1. Addresse

print name Carmen Cheng

$(1)$

$(2)$

$(3)$

$(4)$

sign here		date	31/07/2007
	DIRECTIONS
is clearly set out in paragraph 4 of the form.	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 equity trust), the names could be included in 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 named group if the membership of each dridup, with the names and addresses of members
	See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
See the definition of "associate" in section 9 of the Corporations Act 2001.
include details of:

$\mathbf{I}^{\dagger}$

• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy
  of any document setting out the terms of any relevant agreement, and a statemen $(a)$
• $(b)$

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

• Details of the consideration must include any and all benefits, moneys and other, that any person from whom a relevant interest was acquired has, or
  may, become entitied to receive in relation to that acquisition. Details $(5)$ are not paid directly to the person from whom the relevant interest was acquired.
• The voting shares of a company constitute one class unless divided into separate classes. $(5)$
• $(7)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.