ORBMINCO LIMITED — Capital/Financing Update 2007

Mar 4, 2007

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

MONARO MINING NL

ABN

99 073 155 781

We (the entity) give ASX the following information.

securities.

conversion price and dates

the

for

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+ Class of + securities issued or to be issued	Ordinary Fully Paid Shares Consultant Options
2	Number of $\dot{\tau}$ securities issued or to be issued (if known) or maximum number which may be issued	15,000 Shares 50,000 Options
3	Principal terms of the securities (eg, if options, exercise price and date; if partly paid expiry securities, the amount outstanding and due dates for payment: if	Options – Exercise Price \$1.75, Expiry 31 December 2008 converting into a share and an option exerciseable at \$2.50 within three years of issue.

*convertible

conversion)

⁺ See chapter 19 for defined terms.

4	Do the securities rank equally in all respects from the date of allotment with an existing class of quoted *securities? If the additional securities do not rank equally, please state: the date from which they do which the extent to l they ۰ participate for the next dividend, of (n) the case a. trust. distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment	$Shares - Yes$ Options $-$ the consultants options are the same class as an existing class of unlisted options and will not be listed.
5 6.	Issue price or consideration	Shares - \$1.20 per share Options – Issued in consideration for corporate marketing services. No cash consideration
	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Shares - Exercise of 15,000 listed 31 July 2007 options into fully paid shares. Options: see note 5 above.
7	Dates of entering $\text{*securities}$ into 2 March 2007 uncertificated holdings or despatch of certificates	$+C$ lass Number
8	Number + class of and all quoted *securities ASX on (including the securities in clause 2 if applicable)	23,670,350 ORD 4,854,775 31 July 2007 Options

⁺ See chapter 19 for defined terms.

		Number	+ Class
9	Number class $\circ$ f and aIl securities not quoted on ASX (including the securities in clause 2 if applicable)	5,200,000	Restricted Part-Paid (paid to 0.001 cent, 19.999c unpaid)
		1,200,000	Options Expiry 30/06/07 (MROAK)
		1,800,000	Options Expiry 31/12/08 (MROAM)
		350,000	Employee Options Expiry 19/04/11 (MROAO)
		750,000	Options Expiry 31/12/08 (MROAO)
10	Dividend policy (in the case of a trust, distribution policy) on the	Not applicable

Part 2 - Bonus issue or pro rata issue

security $11$ $Is$ holder required?

Items 11 to 33 are Not Applicable

Part 3 - Quotation of securities

increased capital (interests)

You need only complete this section if you are applying for quotation of securities

approval

• 34 Type of securities (tick one)
• Securities described in Part 1 $(a)$
• $(b)$

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of conve

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

⁺ See chapter 19 for defined terms.

• 35 If the "securities are "equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders
• If the "securities are "equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1.000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over

37

A copy of any trust deed for the additional *securities

Entities that have ticked box 34(b)

38 Number of securities for which Items $38 - 42$ Not Applicable ⁺quotation is sought

39 Class of *securities for which quotation is sought

$N/A$

41 Reason for request for quotation now Example: In the case of restricted securities, end of

restriction period (if issued upon conversion of another security, clearly identify that

other security)

Number *Class Number and ⁺class of all ⁺securities $N/A$ 42 $N/A$ quoted on ASX (including the securities in clause 38)

$+$ See chapter 19 for defined terms.

Quotation agreement

• *Ouotation of our additional *securities is in ASX's absolute discretion. ASX may $\mathbf{I}$ quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the "securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any "securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• $\overline{3}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\boldsymbol{\Delta}$ information or document not available now, will give it to ASX before *quotation of the 'securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

$\ldots$

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Sign here:

(Company Secretary)

Date: 2 March 2007

Print name: June Atling

⁺ See chapter 19 for defined terms.