ORA BANDA MINING LTD — Director's Dealing 2007

Jan 10, 2007

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 Gold Mining Company 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:	7 August 2006

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 Imperial Resources Pty Ltd – financial interest
Date of change	10 January 2007
Number of securities held prior to change	18,501,000 ordinary fully paid shares 10,000,000 unlisted options (31.12.10)
Class	Fully paid shares
Number acquired	13,999,000
Number disposed
Value/consideration Note: If consideration is non-cash, provide details and estimated valuation	\$3,074,508

⁺ See chapter 19 for defined terms.

Number of securities	32,500,000 ordinary fully paid shares
held after change	10,000,000 unlisted options (31.12.10)
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 purchase

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.