Resolute Mining Limited — Major Shareholding Notification 2014

Jul 17, 2014

a I

Date: July 16,2Ol4

Australia Securities Exchange Ltd Exchange Centre 20 Bridge Street Sydney NSW 2000 Australia

Subject: Revised Form 603 - Resolute Mining Limited ACN 097 088 6E9

As a resnlt of enqr.riries made, please find attached a revised Form 603 (Revised Form) for Van Eck Associates Corporation (Van Eck). This replaces the Form 603 previously lodged on 2l March 2013 showing Van Eck's holding of 5.247o in Resolute Mining Limited (Previous f'orm).

The Revised Form:

• (a) amends the date on whioh Van Eck became a substantial holder fiom l8 March 2Ol3 to 15 March 2Ol3:
• (b) includes details of a number of transactions that were inadvertently missing by mistake from Annexure A of the Previous Form;
• (c) removes details of a number of transactions that were inadvertently added in by mistake tiom Annexure A o1ìthe Previous Form; and
• (d) arnends details of a number of transactions that were inadvertently entered inconectly by mistake tiom Annexure A of the Previous Form.

Yours sincerely, Q,-

Russell Brennan Assist¿urt Treasurer and Assistant Vice President Van Eck Associates Corporation

Van Eck Assoclales Corporation Van Eck Securilies Corporation 335 Madison Avenue, 19'n Floor NewYork, NY 10017-4632 Tel 2122532000 E^! o1aq0zO^ O

٦

Form 603 Corporations Act 2001Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Resolute Mining Limited
ACN/ARSN	097 088 689
1. Details of substantial holder (1)
Name	Van Eck Associates Corporation (and its associates as referred to in paragraph 6).
ACN/ARSN (if applicable)	N/A
The holder became a substantial holder on	15/03/2013
.

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 (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary shares	33,691,540	33,691,540	5.24%

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:

Nature of relevant interest (7)	Class and number of securities
VEAC holds its relevant interest by havingthe power to exercise, control the exerciseof, or influence the exercise of, the votingCorporationAssociatesEckIVan.powers or disposal of the securities to which 33,691,540(VEAC)the relevant interest relates in the ordinarycourse of investment managementbusiness,

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 relevantinterest	Registered holder ofsecurities		Class and numberof securities
VEAC	Bank of New York Mellon ascustodian forMarket Vectors Trust - Junior GoldMiners ETF	Market Vectors Trust - Junior(Gold Miners ETF (GDXJ)	Ordinary shares33,433,521
VEAC	lBank of New York Mellon ascustodian for Market Vectors Trust-Africa ETF	Market Vectors Trust - AfricaETF (AFK)	Ordinary shares243,652
VEAC	Market Vectors Australia	Aii S&P/ASX 200 Resources(ASX:RSR)	Ordinary shares8,708
VEAC	Market Vectors Australia	Aii S&P/ASX 200 Resources(ASX:MAM)	Ordinary shares5,659

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 relevantDate of acquisitioninterest	Consideration (9)	Class and numberof securities
-------------------------------------------------------	-------------------	-----------------------------------

ME_104728418_1 (W2003x)

nexure	Cash	Non-cash$\sim$
2.8 . 2.9 S. L. L.B. E. (1990) 1991 1991 1991 1991 1991
____	the property of the con-	the control of the control of	Contract Contract

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
VEAC	Associate under section 12(2) of the Corporations Act.
Van Eck Securities Corporation	Associate under section 12(2) of the Corporations Act.
Van Eck Absolute Return Advisers, Inc.	Associate under section 12(2) of the Corporations Act.

7. Addresses

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

Name	Address
VEAC	335 Madison Avenue, New York, NY 10017
Van Eck Securities Corporation	335 Madison Avenue, New York, NY 10017
Van Eck Absolute Return Advisers, Inc.	335 Madison Avenue, New York, NY 10017

Signature

Assistant VP capacity print name Russell Brennan date July 15, 2014 sign here

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 andtrustee of an equity trust), the names could be included in an ann $(1)$ is clearly set out in paragraph 7 of the form.

• 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 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 associate has a $(5)$ relevant interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• Include details of: $(7)$
  • 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 c
  • 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 qualilication applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• 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, moneys and other, that any person from whom a relevant interest was acquired has, or $(9)$ and the bandit is conditional of the second the product of the second the bandit is conditional on the happening or not of acontingency. Details must be included of any benefit paid on behalf of the substantial holder or

$(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.

This guide does not form part of the prescribed formand is included by ASIC to assist you in completing and GUIDE lodging form 603.

Signature			This form must be signed by either a director or a secretary of the substantial holder.
Lodging period	Nil
Lodging Fee	Nil
Other forms to becompleted	Nil
Additional information	(a)		If additional space is required to complete a question, the information may be included on a separate plece ofpaper annexed to the form.
	(b)		This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme.A copy of this notice must also be given to each relevant securities exchange.
	(c)		The person must give a copy of this notice:
		(i)	within 2 business days after they become aware of the information; or
		(ii)	by 9.30 am on the next trading day of the relevant securities exchange after they become aware of theinformation if:
			a takeover bid is made for voting shares in the company or voting interests in the scheme; and(A)
			the person becomes aware of the information during the bid period.(B)
Annexures			To make any annexure conform to the regulations, you must
	1		use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides
	2		show the corporation name and ACN or ARBN
	З		number the pages consecutively
	4		print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied
	5		identify the annexure with a mark such as A, B, C, etc.
	6		endorse the annexure with the words:This is annexure (mark) of (number) pages referred to in form (form number and title)
	$\tau$		sign and date the annexure.
			The annexure must be signed by the same person(s) who signed the form.

$\overline{w}$

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

$\tilde{\mathcal{A}}$

$\frac{1}{2}$

a/ zræ

This is Annexure to in Form 603

	Date ofAcquisit¡on/		Consideratio	Consideration Non	Number of
Holder of relevantinterest	Disposal	Bls	n Cash	cash	Securities
	71/L6/2012 Buy			ln-Kind	62,365
GDXJ	1-L/27/2012 Buy		s	ln-Kind	37,392
GDXJAFK	t2/17/20t2	Buv	$	ln-Kind	3,493
GDXJ	t2ltgl20L2		s	ln-Kind	274,208
GDXJ	L2h9/20L2	BUVBuv	s	ln-Kind	49,852
	12/20/2012 BUV		s	ln-Kind	249,280
GDXJAFK	72/2L/20L2 Buy		sSs,ors	s	6,240
GDXJ	12/2L/201.2	Sell Long	s 3,8L2,776	s	2,474,1.89
GDXI	12/27/2012 Buy			ln-Kind	37,392
GDXJ	L2/24/2OL2	Sell Long	s5 L90,151	s	723,233
AFK	L2/28/2012 Buy		s	ln-Kind	7,238
GDXJ		Buy	s	ln-Kind	297,986
GDXJ	L/4/20L3 Buy		s	1n-Kind	22,924
GDXJ	1./7/2013 BUV		5	ln-Kind	Lr4,620
GDXJ	L/8/ZOL3 Buy		s	ln-Kind	527,252
GDXJ	r/9/20L3	Buv	s	ln-Kind	80,234
GDXJ	t/10/2oL3	Buv	s	ln-Kind	Lt4,620
GDXJ	t/77/2013	BUV	s	ln-Kind	45,844
GDXJ	t/1.7/2ot3	Buy	s	ln-Kind	45,844
GDXI	t/71.12013 Buy		s	ln-Kind	45,844
GDXJ	L/7u2073	Buy	s	ln-Kind	45,844
GDXJ	Ll17/2013 Buv		5	ln-Kind	L37,532
AFK	UL4/2oL3 Buy		s	ln-Kind	7,242
GDXJ	1./L4/2OL3 Buv		s	ln-Kind	91,688
GDXJ	LlLT/20L3 Buy		s	ln-Kind	80,220
GDXJ	tlL8/2OL3 Buy		s	ln-Kind	57,295
GDXJ	L/22/2013 Buy		s	ln-Kind	492,s6s
GDXJ	1./23/20L3	Buy	$	ln-Kind	34,383
GDXJ	7/2412013 Buy		s	ln-Kind	22,922
GDXJ	1-/2s/2013 Buv		s	ln-Kind	LL4,620
GDXJ	1./28/2013 Buv		5	ln-Kind	45,852
AFK	L129/2O!3	Buv	s	ln-Kind	7,238
GDXJ	r/2s/2073	Buv	s	ln-Kind	1,I,463
GDXJ		Buv	s	ln-Kind	22,936
GDXJ	2/7/20L3 Buy		5	ln-Kind	57,330
AFK	2/s/2013 Buy		$	ln-Kind	7,238
GDXJ	2/6/2013 Buy		s	ln-Kind	4s,860
AFK	2/Lt/20L3	Buv	s733	s	529
GDXJ	2/ttl2013	Buy	s		34,398
GDXJ	2h2/2073	Buv	s	ln-Kind	24O,786
GDXJ	2/73/2013 Buv		s	ln-Kind	22,932

GDXJ	2/rs/2013	BUV	s	ln-Kind	737,580
AFK	2/te/20t3	Buy	s	ln-Kind	7,246
GDXJ	2/20/2073 Buy		s	ln-Kind	45,868
GDXJ	2/2L120L3 Buy		$	ln-Kind	22,938
GDXJ	2l2s/20L3 Buy		s	ln-Kind	34,401
GDXJ	2126/20L3 Buy		$	ln-Kínd	22,930
GDXJ	2127/20L3 Buv		s	ln-Kind	1.
GDXJ	2/27/20t3	Buv	s	ln-Kind	2
GDXJ	2127/2073 BUV		s	ln-Kind	rt,465
GDXJ	2127/2Or3 Buy		s	ln-Kind	1
GDXJ	2/27/20L3 Buy		s	ln-Kínd	1
GDXJ	2/28/2OL3	Buy	s	ln-Kind	22,928
AFK	3/4/20L3 Buy		$	ln-Kind	3,622
GDXJ	3/4/20L3 Buy		s	ln-Kind	22,936
GDXJ	3/6/20t3	BUV	$	ln-Kind	137,6L6
GDXJ	3/7120L3 Buy		s	ln-Kind	L26,t26
GDXJ	3/8/20L3 Buv		s	ln-Kind	309,582
GDXJ	3/LLl20L3 Buv		s	ln-Kind	194,973
GDXI	3/12/2Ot3 Buv		s	ln-Kind	68,802
GDXJ	3/L3/2013 Buv		s	ln-Kind	L03,L85
AFK	3/Lsl2O73 Buv		s15,790	s	77,645
GDXJ	3/ts/2073	BUV	S 3,328,329	s	2,456,331
GDXJ	3hsl2173	Buv	s	ln-Kind	45,832

ln-Kind transact¡ons result frorn the ETF receiving a basket of securities (including Resolute Mining) in exchange for securities in the ETF.

ln-Kind transactions refers to how market makers can reconcile the differences between net asset value (NAV) and market values when shares of the ETF5 are bought and sold. The market maker can arbitrage the ETF shares w¡th the shares that make up the underlying portfolio, by creating or redeeming lots of the ETF shares. This structure causes ETFS to be treated as "in kind" transactions where investors only pay capital gains like wlth stocks, as to other fees associated ur¡th mutual funds. of exchange traded funds