TITANIUM SANDS LIMITED — Major Shareholding Notification 2007

Feb 12, 2007

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To_Company Name/Scheme	Preclous Metals Australia Limited
ACN/ARSN	009 131 533
1. Details of substantial holder (1)
Name	The Goldman Sachs Group, Inc. on behalf of Itself and Its subsidiaries ("GSGI"), being the bodies corporate listed in Annexure A
	Not applicable

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)	r of securities Number $-$	Person's votes (5)	Voting power (6)
Ordinary Shares	5,128,206	5.128.206	5.03%

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
GSGI	GSGI has a relevant interest in these shares by virtue of section 608(3) of the Corporations Act 2001	5,128,206 ordinary fully paid shares
Goldman Sachs (Asia) Finance ("GSAF")	Power to control voting and disposal of securities	5,128,206 ordinary fully paid shares

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	Registered holder of	Person entitled to be	Class and number
interest	securities	registered as holder (8)	of securities
GSAF	HSBC Custody Nominees Australia Limited	GSAF	5,128,206 ordinary fully paid shares

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)	Class and number of securities
GSAF	22 December 2006	\$1.95	2,335,641 ordinary fully paid shares
GSAF	9 February 2007	\$1.95	2,792,565 ordinary fully paid shares

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
GSAF	GSAF is a limited company incorporated in Mauritius which holds proprietary positions in securities. It is ultimately owned by GSGL

7. Addresses

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

Name	Address
GSGI	Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, U.S.A.
GSAF	68th Floor, Cheung Kong Center, 2 Queen's Road Central, Hong Kong
HSBC Custody Nominees Australia Limited	GPO Box 5302, Sydney NSW 2001

Signature

Annexure A

Significant Subsidiaries of The Goldman Sachs Group, Inc.

The following are significant subsidiaries of The Goldman Sachs Group, Inc. as of November 25, 2005 and the states or jurisdictions in which they are organized. Indentation indicates the principal parent of each subsidiary. Except as otherwise specified, in each case The Goldman Sachs Group, Inc. owns, directly or indirectly, at least 99% of the voting securities of each subsidiary. The names of particular subsidiaries have been omitted because, considered in the aggregate as a single subsidiary, they would not constitute, as of the end of 2005, a "significant subsidiary" as that term is defined in Rule 1-02(w) of Regulation S-X under the Securities Exchange Act of 1934.

Name	State or Jurisdiction of
	Entity
The Goldman Sachs Group, Inc.	Delaware
Goldman, Sachs & Co.	New York
Goldman Sachs Paris Inc. ET CIE	France
Goldman Sachs (Asia) Finance Holdings L.L.C.	Delaware
Goldman Sachs (Asia) Finance	Mauritius
GS Global Funding Hong Kong Trust II	Hong Kong
GS Global Funding Hong Kong Partnership	Hong Kong
GS Power Holdings LLC	Delaware
Goldman Sachs (UK) L.L.C.	Delaware
Goldman Sachs Group Holdings (U.K.)	United Kingdom
Goldman Sachs International Bank	United Kingdom
Goldman Sachs Holdings (U.K.)	United Kingdom
Goldman Sachs International	United Kingdom
Goldman Sachs Asset Management International	United Kingdom
J. Aron & Company (U.K.)	United Kingdom
GS Linden Power Holdings LLC	Delaware
Goldman Sachs Mortgage Company	New York
GS Financial Services L.P. (Del)	Delaware
GS Diversified Holdings II LLC	Delaware
Chiltern Trust GS Global Funding, Inc.	Isle of Jersey Delaware
NJLQ (Ireland) Limited	Ireland
Goldman Sachs Capital Markets, L.P.	Delaware
William Street Equity LLC	Delaware
William Street Funding Corporation	Delaware
GS Global Investments, Co.	Delaware
GS Global Investments UK, Inc.	Delaware
GSFS Investments I Corp.	Delaware
Goldman Sachs Japan Co., Ltd.	Japan
J. Aron Holdings, L.P.	Delaware
J. Aron & Company	New York
Goldman Sachs (Asia) Securities Limited	Hong Kong
Goldman Sachs Asset Management L.P.	Delaware
Goldman Sachs Asset Management Co., Ltd.	Japan
Goldman Sachs Hedge Fund Strategies LLC	Delaware
GSEM (DEL) Inc.	Delaware
GSEM (DEL) LLC	Delaware
GS Equity Markets, L.P. (Bermuda)	Bermuda
Goldman Sachs (Cayman) Holding Company	Cayman Islands
Goldman Sachs (Asia) L.L.C.	Delaware
MLQ Investors, L.P.	Delaware
Jupiter Investment Co., Ltd.	Japan
Goldman Sachs Realty Japan Ltd.	Japan
GSCP (DEL) Inc.	Delaware
Goldman Sachs Credit Partners L.P.	Bermuda
Goldman Sachs Financial Markets, L.P.	Delaware

Name	State or Jurisdiction of Entity
MTGLO Investors, L.P.	Delaware
ELO Investors, LTD	United Kingdom
GS European Opportunities Investment Fund B.V. (1)	Netherlands
GS European Strategic Investment Group B.V. (1)	Netherlands
SSIG SPF ONE LQ, LLC	Delaware
GS Mehetia LLC	Delaware
Mehetia Holdings Inc.	Delaware
Mehetia Inc.	Delaware
SLK LLC	New York
Goldman Sachs Execution & Clearing, L.P.	New York
Spear, Leeds & Kellogg Specialists LLC	New York
GS European Performance Fund Limited	Ireland

(1) These entities are 25% owned by The Norinchukin Trust & Banking Company Ltd.

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