QX RESOURCES LIMITED — Major Shareholding Notification 2012

Apr 4, 2012

Form 603

Corporations Act 2001

Section 671B

NOTICE OF INITIAL SUBSTANTIAL HOLDER

To BLACK MOUNTAIN RESOURCES LIMITED (ASX:BMZ)

ABN/ARSN 55 147 106 974

1. Details of substantial holder (1)

SFG Australia Limited controls Mosaic Portfolio Advisers Limited (the responsible entity Name of Emerging Resources Company Share Fund ARSN 118 630 541)

ABN 81 006 490 259

The holder became a substantial holder on 05/04/12

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 relevant interest (3) in on the date the substantial holder are as follows:

Class of securities (4)	Number ofsecurities	Person's votes (5)	Voting power (6)
Ordinary Shares	3,296,233	3,296,233	5.05%

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 relevantinterest	Nature of relevant interest (7)	Class and number ofsecurities
	SFG Australia Limited controls Mosaic
	Portfolio Advisers Limited (the responsible
SFG Australia Limited	entity of the Emerging Resources Company	3,296,233 ordinary units
	Share Fund ARSN 118 630 541)

4. Details of present registered holders

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

Holder ofrelevant interest	Registered holder ofsecurities	Person entitled to be registeredas holder (8)	Class andnumber ofsecurities
SFG AustraliaLimited	Bond Street CustodiansLimited as Custodian of theEmerging Resources CompanyShare Fund ARSN 118 630 541	Mosaic Portfolio Advisers Limitedas Responsible Entity of theEmerging Resources CompanyShare Fund ARSN 118 630 541	3.296,233ordinary units

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 the substantial holder is as follows:

Holder of relevantinterest	Date ofacquisition	Consideration (9)		Class and number ofsecurities
		Cash	Non-cash
SFG AustraliaLimited	12/01/2012	$500,000		2,500,000
	28/02/2012	$21,034.65		75,000
	29/02/2012	$28,046.20		100,000
	23/03/2012	$38,858.57		121,233
	30/03/2012	$72,118.80		200,000
	05/04/2012	$107,396.91		300,000

6. Associates

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

Name and CAN/ASRN (if applicable)	Name of association

7. Addresses

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

Name	Address
Black Mountain Resources Limited	Ground Floor, 1 Havelock Street, WEST PERTH,WA 6005
SFG Australia Limited ABN 81 006 490 259 and itscontrolled entities	100% owner of Mosaic Portfolio Advisers LimitedSuite 1, Level 18, 50 Bridge Street, Sydney, NSW2000
Mosaic Portfolio Advisers LimitedABN 13 108 747 637	Responsible Entity of the Emerging ResourcesCompany Share Fund ARSN 118 630 541Suite 1, Level 18, 50 Bridge Street, Sydney, NSW2000
Bond Street Custodians LimitedACN 008 607 065	Custodian for the Emerging Resources CompanyShare Fund ARSN 118 630 541Level 20, 1 Martin Place, Sydney, NSW 2000

Signature

Print name LINDA wind YEUME FOX capacity Company Secretory
Signature	Date	1412013