Resolute Mining Limited — Major Shareholding Notification 2009

Nov 5, 2009

Fax To: Australian Stock Exchange

Company Announcements Office Attention:

00 612 9347 0005 / 9778 0999 Fax No:

No. of pages: (including cover) 4

4th November 2009 Date:

Sender: Tino Isnardi

In the event of any query, please call the sender on +44 (0)20 7389 0009

Dear Sir,

Please find enclosed completed Form 604 Notice of Change of Interests of Substantial Holder relating to our group holding in Resolute Mining Limited.

A copy has also been sent directly to the company.

Please advise if you have any queries regarding this notice,

Regards,

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name / Scheme	RESOLUTE MINING LTD
ACN/ARSN
1. Details of substantial holder (1)
NameACN/ARSN (if applicable)			BAKER STEEL CAPITAL MANAGERS LLP (CLIENTS OF AND ASSOCIATED OR CONNECTED PARTIES)
There was a change in the interests of the substantial holder on		30-Oct-09		$\bullet$
The previous notice was given to the company on		17-Feb-09
The previous notice was dated		17-Feb-09

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)	___IPrevious notice		IPresent notice
	Person's vote	Voting power (5)	Person's vote	Voting power (5)---
Ordinary Shares	28,560,379	19.18%	33,695,518	8.81%_____
.	$\begin{array}{cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc$

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:

lDate of Change	Person whose relevant interest changed	Nature of change (6)	Consideration given inrelation to change (7)	Class and number ofsecurities affected	Ferson's votes affected
	refer to schedule 1 attached
Inote, change in notification due to change in number of shares in Issue

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	[Person entitled to beregistered as holder (8) linterest (6)	Nature of relevant	Class and number of securities	Person's vote
(Genus Dynamic Gold Fund	HSBC Custody Nomineus (Australia) Ltd	las previous column	registered holder	ordinary5,563.241	5.563.241
CF Ruffer Baker Steel Gold Fund	National Nominees Ltd	las previous column	registered holder	lordinarv /20,339,596	20,339,596
RKIT Capital Partners PLC	National Nominees Ltd	las previous column	registered holder	lordinary/2,516,101	2,516,101
l Select Gold Fund	Citibank Pty Ltd	las previous column	registered holder	lordinary/3,476,5801	3,476.580
Genus Natural Resources Master Fund	HSBC Custody Nominees (Australia) Ltd	las previous column	Iregistered holder	ordinary /1,800,000	1,800,000

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:

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

6. Addresses

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

l Name	l Address___
for all entities listed	c/o Baker Steel Capital Managers LLP
—----	186 Jermyn Street, London, SW1Y 6JD------______

Signature

print name	Tino Isnardi	capacity	Head of Trading and Operations
sign here	---T-Isnande	date.	04-Nov-09.

DIRECTIONS

(1) 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 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.

(3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

(4) The voting shares of a company constitute one class unless divided into separate classes.

(5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

(6) Include details of:

(a) any relaxant and anomal or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy 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

(b) 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 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.

(7) 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, become entitled to receive in relation to that acquisition. Details must be included even if the banafit is conditional on the happening or not of a confingency. 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.

(8) 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".

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

05.NOV.2009 18:39 02073898222

BAKERSTEEL

SCHEDULE 1

Date ofChange	Person whose relevant interest changed	Nature of change (6)	Consideration given inrelation to change (7)	Class and number ofsecurities affected	Person's votes affected
	16-Sep-09 Genus Natural Resources Master Fund	market purchase	449,464-AUD	ordinary	710,000
	21-Aug-09 Genus Natural Resources Master Fund	market purchase	163,485-AUD	ordinary	275,000
	30-Jun-09 Baker Steel Gold Fund	free receipt	AUD	ordinary	72,136
		free receipt	AUD۰	ordinary	54,101
	30-Jun-09 RIT Capital Partners PLC	free receipt	AUD$\blacksquare$	ordinary	254,596
	30-Jun-09 CF Ruffer Baker Steel Gold Fund	free receipt	AUD	ordinary	92,291
	30-Jun-09 Genus Dynamic Gold Fund	market purchase	167,824-AUD	lordinary	267,000
	29-Jun-09 Genus Dynamic Gold Fund01-Jun-09 Genus Natural Resources Master Fund	market purchase	81,772-AUD	lordinary	115,000
	28-May-09 Genus Natural Resources Master Fund	market purchase	214,822QUA-	ordinary	300,000
		placing	70,000-AUD	ordinary	100,000
	15-May-09 Baker Steel Gold Fund	placing	245.100-AUD	iordinary	350,143
	15-May-09 Genus Dynamic Gold Fund	placing	1,684,900-AUD	ordinary	2,407,000
	15-May-09 CF Ruffer Baker Steel Gold Fund24-Apr-09 Genus Natural Resources Master Fund	market sale	217 300AUD	ordinary	-276.316
		lmarket sale.	AUD101.454	ordinary	-123.684
	23-Apr-09 Genus Natural Resources Master Fund	market purchase	231,000-AUD	ordinary	282,872
	31-Mar-09 Genus Dynamic Gold Fund	market purchase	208.239-AUD	lordinary	255.000
	31-Mar-09 CF Ruffer Baker Steel Gold Fund

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