Resolute Mining Limited — Major Shareholding Notification 2021

Jun 17, 2021

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name / Scheme

RESOLUTE MINING LTD

ACN/ARSN

097 088 689

1. Details of substantial holder (1)

Name BAKER STEEL CAPITAL MANAGERS LLP (CLIENTS OF AND ASSOCIATED OR CONNECTED PARTIES) ACN/ARSN (if applicable)

The holder became a substantial holder on

15-Jun-21

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)
OrdinaryShares	55,231,287	55,231,287	5.003%

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 relevant interest	Nature of relevant interest(7)	Class and number of securities
Baker Steel Precious Metals Fund	Beneficial Holder	ordinary/52,855,287
Baker Steel Resources Trust Ltd	Beneficial Holder	ordinary/1,230,000
Baker Steel UK Gold & Precious Metals Fund	Beneficial Holder	ordinary/1,146,000

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 relevant interest	Registered holder ofsecurities	Person entitled to beregistered as holder(8)	Class and numberof securities
Baker Steel Precious Metals Fund	BNP Paribas Securities Services Sydney	asprevious column	ordinary/52,855,287
Baker Steel Resources Trust Ltd	HSBC CustodyNominees(Australia)Ltd	asprevious column	ordinary/1,230,000
Baker Steel UK Gold & Precious Metals Fund	CITIGROUP PTY LIMITED	asprevious column	ordinary/1,146,000

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 relevant interest|Date of acquisition|Consideration (9)Cash |Non-cash|Class and numberof securities| |---|---|---|---| |refer to schedule 1 attached|||| |||||

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
Baker Steel Precious Metals Fund	discretionarymandate of investment manager
Baker Steel Resources Trust Ltd	discretionarymandate of investment manager
Baker Steel UK Gold & Precious Metals Fund	discretionarymandate of investment manager

7. Addresses

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

Name	Address
for all entities listed…	c/o Baker Steel Capital Managers LLP
	34 Dover Steet,London W1S 4NG

Signature

	print name	Tino IsnardicapacityHead of Trading	Tino IsnardicapacityHead of Trading	Tino IsnardicapacityHead of Trading	Tino IsnardicapacityHead of Trading
	sign here			date	17-Jun-21

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 7 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 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 relevant interest in.

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

(7) Include details of:

(a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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.

(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) 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 benefit is conditional on the happening or not of a contingency. 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.

SCHEDULE 1

Date ofChange	Person whose relevant interestchanged	Nature of change (6)	Consideration givenin relation to change(7)	Class and number ofsecurities affected	Person's votes affected
15-Jun-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 729,420	odinary	1,300,000
11-Jun-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 1,562,650	odinary	2,855,287
11-Jun-21	Baker Steel UK Gold & Precious Metals F	umarketpurchase	AUD 90,582	odinary	164,700
04-Jun-21	Baker Steel UK Gold & Precious Metals F	umarketpurchase	AUD 60,640	odinary	111,000
13-May-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 1,861,142	odinary	3,200,000
12-May-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 2,304,812	odinary	4,000,000
11-May-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 1,630,140	odinary	3,000,000
11-May-21	Baker Steel UK Gold & Precious Metals F	umarketpurchase	AUD 91,075	odinary	167,800
10-May-21	Baker Steel UK Gold & Precious Metals F	umarketpurchase	AUD 92,300	odinary	169,500
07-May-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 1,312,769	odinary	2,453,403
06-May-21	Baker Steel Resources Trust Ltd	marketpurchase	AUD 55,406	odinary	107,450
06-May-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 2,065,250	odinary	4,000,000
05-May-21	Baker Steel UK Gold & Precious Metals F	umarketpurchase	AUD 71,384	odinary	140,000
05-May-21	Baker Steel Precious Metals Fund	marketpurchase	AUD 1,810,715	odinary	3,546,597
05-May-21	Baker Steel Resources Trust Ltd	marketpurchase	AUD 138,970	odinary	272,550
16-Apr-21	Baker Steel UK Gold & Precious Metals F	umarketpurchase	AUD 89,959	odinary	173,000