ORA BANDA MINING LTD — Director's Dealing 2004

Dec 22, 2004

62 Colin Street, West Perth, Western Australia 6005 Telephone: 61-8 9481 6422 Facsimile: 61-8 9481 6433

23 December 2004

Manager Announcements Company Announcements Office Australian Stock Exchange Limited Level 4 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

APPENDIX 3Y NOTICES

In accordance with ASX Listing Rule 3.19A.2, please find enclosed Appendix 3Y notices on behalf of Mr Michael Kiernan and Mr Phillip Botsis.

Yours faithfully

FRANK CAMPAGNA Company Secretary

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:	Michael Laurence Kiernan
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	Direct and indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest	Michael Laurence Kiernan Crawley Investments Pty Ltd – financial interest
Date of change	23 December 2004
Number of securities held prior to change	13,030,002 ordinary fully paid shares 6,515,001 listed 20 cent options (31 July 2006)
Class	Fully paid shares and options
Number acquired	1,900,000 shares (i)
Number disposed	1,250,000 shares (ii) (iii) 1,900,000 options (exercise into fully paid shares)
Value/consideration Note: If consideration is non-cash, provide details and estimated valuation	\$380,000 (i) Nil (ii) (iii) Nil (exercise of options)

⁺ See chapter 19 for defined terms.

Number of securities	13,680,002 ordinary fully paid shares
held after change	4,615,001 listed 20 cent options (31 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	(i) and (iii) exercise of options into fully paid shares (ii) off-market transfer

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.

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:	19 November 2004

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	23 December 2004
Number of securities held prior to change	1,531,250 ordinary fully paid shares 1,015,625 listed options (31 July 2006)
Class	Fully paid shares
Number acquired	1,250,000
Number disposed
Value/consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

⁺ See chapter 19 for defined terms.

Number of securities	2,781,250 ordinary fully paid shares
held after change	$1,015,625$ listed 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	Off-market transfer

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.