RAMELIUS RESOURCES LIMITED — Major Shareholding Notification 2017

Oct 10, 2017

Form 604 Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme		Ramelius Resources Limited
ACN/ARSN	001 717 540
Details of substantial holder (1) 1. Name		Van Eck Associates Corporation (and its associates referred to in paragraph 6).
ACN/ARSN (if applicable)	N/A
There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated		06/10/2017 21/06/2017 20/06/2017

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary shares	31.314.882	5.95%	36.614.638	6.95%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	[Van Eck Associates] See Annexure A Corporation (VEAC)

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered	Person entitled	Nature of	Class and	Person's votes
relevant	holder of	to be registered	relevant	number of
interest IVEAC	securities IBank of New York Mellon as custodian lfor VanEck Vectors Uunior Gold Miners IETF	as holder (8) lVanEck Vectors Uunior Gold Miners ETF (GDXJ)	interest (6) IVEAC holds its relevant linterest by having the power to exercise, control the exercise of, or linfluence the exercise of. the voting powers or disposal of the securities Ito which the relevant linterest relates in the ordinary course of investment management lbusiness.	securities Ordinary shares 36,060,995	6.845%

VEAC	Bank of New York Mellon as custodian lfor VanEck Vectors Uunior Gold Miners IUCITS ETF	VanEck Vectors Junior Gold Miners IUCITS ETF (UCTGDXJ)	ISame as above.	Ordinary shares 553,643	0.105%
-------------	------------------------------------------------------------------------------------------------------------------	-------------------------------------------------------------------------------	-----------------	----------------------------	--------

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

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

6. Addresses

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

Name	Address
VEAC	666 Third Avenue, New York, NY 10017
Van Eck Securities Corporation	666 Third Avenue, New York, NY 10017
Van Eck Absolute Return Advisers, Inc.	666 Third Avenue, New York, NY 10017
VanEck Australia Pty Ltd	Level 4 Aurora Place, 88 Phillip Street, Sydney NSW 2000
VanEck Investments Limited	Level 4 Aurora Place, 88 Phillip Street, Sydney NSW 2000

Signature

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and $(1)$ 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 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $(a)$ of any 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 the $(b)$ 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 Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, $(7)$ 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 on 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.
• 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". $(8)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$

Holder of relevant			Consideration	Consideration
interest	Date of Acquisition	B/S	Cash	Non-Cash	Number of Securities
GDXJ	06/16/2017B			In-Kind	1,162,200
GDXJ	06/16/2017 S		15,797,615.19		32,240,031
GDXJ	06/19/2017 S		360,532.06		765,289
GDXJ	06/21/2017B			In-Kind	1,285,148
GDXJ	06/22/2017 B			In-Kind	698,400
GDXJ	06/26/2017B			In-Kind	279,320
GDXJ	06/30/2017B			In-Kind	419,040
GDXJ	08/01/2017B			In-Kind	279,320
GDXJ	08/08/2017 S			In-Kind	251,406
GDXJ	08/25/2017 S		26,040.00		66,816
GDXJ	09/06/2017B			In-Kind	110,576
GDXJ	09/13/2017B			In-Kind	221,360
GDXJ	09/15/2017B			In-Kind	207,585
GDXJ	09/15/2017 B		192,716.81		481,455
GDXJ	09/19/2017 B			In-Kind	141,440
GDXJ	09/22/2017 B			In-Kind	141,410
GDXJ	09/25/2017 B			In-Kind	99,106
GDXJ	09/26/2017B			In-Kind	820,062
GDXJ	09/27/2017B			In-Kind	367,640
GDXJ	10/03/2017 B			In-Kind	113,136
GDXJ	10/05/2017B			In-Kind	367,666
GDXJ	10/06/2017B			In-Kind	282,820
UCTGDXJ	06/16/2017S		371,661.08		758,492
UCTGDXJ	06/19/2017 S		3,974.10		8,280
UCTGDXJ	06/27/2017 B		5,365.97		11,657
UCTGDXJ	07/14/2017B		4,549.02		11,656
UCTGDXJ	07/21/2017B		4,781.89		11,655
UCTGDXJ	07/26/2017B		4,723.17		11,654
UCTGDXJ	07/28/2017B		4,664.86		11,654
UCTGDXJ	08/10/2017 S		566.34		1,318
UCTGDXJ	08/25/2017 S		1,953.31		5,012
UCTGDXJ	09/07/2017B		4,668.67		11,527
UCTGDXJ	09/15/2017B In-Kind transactions result from UCTGDXJ receiving a basket of securities (including RAMELIUS		5,039.53		12,590

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

$Ar$

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