MGX RESOURCES LIMITED — Major Shareholding Notification 2007

Feb 13, 2007

604 page 2/2 15 July 2001

Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder
To Company Name/Scheme		Mount Gibson Iron Limited (MGI)
ACN/ARSN	008 670 817
1. Details of substantial holder (1) Name		Shougang Holding (Hong Kong) Limited (Shougang Holding)
ACN/ARSN (if applicable)
There was a change in the interests of the aubstantiel holder on The previous notice was given to the company on The previous notice was dated		6/2/2007 19/12/2006 19/12/2006

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:

Class of securities (4)	Previous notice _________		Present notice
	Person's votes i	Vating power (5)	Person's votes	Voting power (5)
l Ordinan	96.127.843	har:	149.583.521	18.99
__

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 aubatantial 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
12/2007	Shougang Holding	On market purchase of shares in Mount Giharm	\$82,000.00	100.000	100.000
6/2/2007	Shougang Holding	lOn market purchase of shares in Mount Gibson	\$33,501,169.85	40,125,967 ordinary 40,125,967 Ishares
6/2/2007	Shougang Holding	Entitlement to Mount Gibson shares bursuant to compulsory acquisition proceedings in respect of shares in Aztec Resources Limited	39,889,135 shares in Aztec 13,229,711 ordinary Resources Limited	Istranes	13.229.711
9/2/2007	N/A (change in the Agreement for the nature of a relevantisale of shares (yet to \$16,791,449.10 interest)	be completed)		19,754,646	19,754,646

$\mathcal{L}^{\pm}$

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	Ferson entitled to be registered as holder (8)	Nature of relevant interest (B)	Class and number of securities	Person's votes
Shougang Holdino	Citigroup Nominee Pte Timely Rich Limited		A holder of more than 20% of Timely Rich Limited (Section 608(3)(a))	19.754,646 ordinary 19,754,646 Ishares
Shougang iHolding	Sun Hung Kai Investment Servicea Limited (in respect of 48,373,197), Meall Lynch (Australia) Nominees Ltd (in respect of 63,225.987) (in respect of Citigroup Nominee Pte 13,229,711) Limited (in respect of 19,754,646) and Aztec (in respect of 13,229,711)	Net Success Investments Limited	A holder of more than 20% of APAC Resources Limited Sectlon 608(3)(a))	149.583.521 ordinary shares	149.583.521

5. 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 apolicable) ---------	------ -------------- Nature of association
	----------- --- _
	. __
_ _ ----	. _ _ _ __ ------ ___ --

6. Addresses

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

Name	Address
Shougang Holding (Hong Kong) Limited and Timaly Rich Limited	7 th Floor, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchal, Hong Kong
All other carties	C/- APAC Resources Limited, Rooms 2808-10, 28 th Floor, 71 Dea Voeux Road Central, Hong Kong

Signature

print name	Carmen Cheng for and on behalf of Shougang (Hong Kong) Finance Company Limited	capacity	Secretary
sign here	$\cdot$ . ъ	date	13/2/2007
$\sim$

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 of an equity trust), the names could be included in an ann $(1)$
• 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. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $\langle 4 \rangle$