ORA BANDA MINING LTD — Director's Dealing 2003

Aug 3, 2003

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity:	Monarch Resources Limited
ABN:	69 100 038 266

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director:	Phillip Peter Botsis
Date of last notice:	27 February 2003

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest	Methuen Nominees Pty Ltd - financial interest
Date of change	31 July 2003
Number of securities held prior to change	1,500,000 ordinary fully paid shares 750,000 listed 20 cent options (31 July 2006)
Class	Listed 20 cent options (31 July 2006)
Number acquired	250,000
Number disposed
Value/consideration Note: If consideration is non-cash, provide details and estimated valuation	\$10,000

⁺ See chapter 19 for defined terms.

Number of securities	1,500,000 ordinary fully paid shares
held after change	$1,000,000$ listed 20 cent options $(31 \text{ July } 2006)$
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market trade

Part 2 - Change of director's interests in contracts

Details of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
Number and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.