ORA BANDA MINING LTD — Major Shareholding Notification 2002

Dec 5, 2002

MONARCH RESOURCES LIMITED

62 Colin Street West Perth, Western Australia 6005 Telephone: 61-8 9321 3633 Facsimile: 61-8 9321 3644

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6 December 2002

Company Secretary Anzoil NL Suite 6 29 Ord Street WEST PERTH WA 6005

BY FACSIMILE: 9226 1432 $(3 PAGES)$

Dear Sir

ŧ

Please find enclosed a Notice of Initial Substantial Holder on behalf of Monarch Resources Limited.

Yours faithfully

FRANK CAN Company Secretary

Company Announcements Office $cc$ : Australian Stock Exchange Limited Facsimile: 1300 300 021

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

Company ΙQ	ANZOIL NL
Name/Scheme
ACN/ARSN	009 171 046
1. Details of substantial holder (1)	MONARCH RESOURCES LIMITED
Name	100 038 266
ACN(if applicable)
The holder became a substantial holder on	04 / 12 / 2002

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities 14	Number of securities	Persons' votes (5)	Voting power (6)
Ordinarv	22,000,000	22.000.000	19.73%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of
		securities
Monarch Resources Limited	Holder	Ordinary - 22,000,000

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
Monarch Resources Limited	Monarch Resources ∟imited	Monarch Resources Limited	Ordinary - 22,000.000

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Monarch Resources Limited	02/12/2002	\$2,888,00		Ordinary - 100,000
Monarch Resources Limited	04/12/2002	\$722.604.31		Ordinary $-21,900,000$

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

7. Addresses

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

Name	Address
' Monarch Resources Limited	1 Ground Floor, 62 Colin Street, West Perth, Western Australia.

Signature

print name	FRANK CAMPAGNA	Capacity COMPANY SECRETARY
sign here	aurog	date 06 / 12 / 2002
	DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ 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 group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• (2) See the definition of "associate" in section 9 of the corporations Law.
• (3) See the definition of "relevant interest" in sections 608 and 617B(7) of the Corporations Law.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an $(5)$ associate has a relevant interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• $(7)$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any $(a)$ document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of $(b)$ the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

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

• If the substantial holder is unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write "unknown". $(8)$
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, $(9)$ or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.