TIVAN LIMITED — Major Shareholding Notification 2007

Feb 18, 2007

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Tennant Creek Gold Limited
ACN/ARSN	000 817 023
1. Details of substantial holder (1)
Name	RAB Special Situations (Master) Fund Limited
ACN/ARSN (if applicable)	(A Cayman Islands Registered Company)
There was a change in the interests of the substantial holder on	18/01/2007
The previous notice was given to the company on	29/11/2007

2. Previous and present voting power

The previous notice was dated

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:

$27/11/2007$

Class of securities (4)	Previous notice		Present notice
	Person's votes Voting power (5)		Person's votes	Voting power (5)
Ordinary shares	11,927,138	11.74%	10,605,338	9.51%

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
SEE SCHEDULE ATTACHED

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 be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
RAB Special	Westpac	Westpac
Situations	Custodian	Custodian	Beneficial	10,605,338 ordinary	10,605,138
(Master) Fund	Nominees Limited	Nominees Limited	holder	shares
Limited

________
		THE PRIME EX INVESTIGATION CONTINUES. THE CONTINUES OF A CONTINUES AND LODGED ASSOCIATES	________		-------------------------------------- WARRANT MAGAZINE ****
PERMITTEN WILLYWANNAM ANNANA ANAILA LA LA LUI		.	,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,	________
					PERSONAL PROPERTY AND ADDRESS
---------------------------------------	--------------------------------------		_________

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
	,,,,,,,,,,,,,,,,,,,,,,,,

6. Addresses

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

Name	Address
Westpac Custodian Nominees Limited	275 Kent Street, Sydney, Australia
RAB Special Situations (Master) Fund Limited	C/O RAB Capital plc, 1 Adam Street, London, WC2N 6LE, UK

Signature

print name		capacity
	________ --------------------------------------	--------------------------------------			________
sign here		date

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ 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.
• 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) $(a)$ 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
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ 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 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.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$

"unknown".

$\langle 9 \rangle$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. Schedule to form 604 in respect of RAB Special Situations (Master) Fund Limited's shareholding in Tennant Creek Gold Limited.

$\mathbf{r}$ . . . . . . . .

Date οf change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change (AS)	Class and number of securities affected	Person's votes affected
28/11/06	RAB Special Situations (Master) Fund Limited	Sale of 50,000 ordinary shares	26946	50,000 ordinary shares	RAB Special Situations (Master) Fund Limited
30/11/06	RAB Special Situations (Master) Fund Limited	Sale of 165,000 ordinary shares	82335	165,000 ordinary shares	RAB Special Situations (Master) Fund Limited
01/12/06	RAB Special Situations (Master) Fund Limited	Sale of 335,000 ordinary shares	167730.02	335,000 ordinary shares	RAB Special Situations (Master) Fund Limited
04/12/06	RAB Special Situations (Master) Fund Limited	Sale of 250,000 ordinary shares	134730	250,000 ordinary shares	RAB Special Situations (Master) Fund Limited
05/12/06	RAB Special Situations (Master) Fund Limited	Sale of 50,000 ordinary shares	26946	50,000 ordinary shares	RAB Special Situations (Master) Fund Limited
06/12/06	RAB Special Situations (Master) Fund Limited	Sale of 110,000 ordinary shares	60379	110,000 ordinary shares	RAB Special Situations (Master) Fund Limited
12/12/06	RAB Special Situations (Master) Fund Limited	Sale of 58,911 ordinary shares	31748.32	58,911 ordinary shares	RAB Special Situations (Master) Fund Limited

13/12/06	RAB Special Situations (Master) Fund Limited	Sale of 31,089 ordinary shares	16754.48	31,089 ordinary shares	RAB Special Situations (Master) Fund Limited
16/01/07	RAB Special Situations (Master) Fund Limited	Sale of 212,686 ordinary shares	108751.94	212,686 ordinary shares	RAB Special Situations (Master) Fund Limited
17/01/07	RAB Special Situations (Master) Fund Limited	Sale of 17,314 ordinary shares	8812.48	17,314 ordinary shares	RAB Special Situations (Master) Fund Limited
18/01/07	RAB Special Situations (Master) Fund Limited	Sale of 41,800 ordinary shares	21275.36	41,800 ordinary shares	RAB Special Situations (Master) Fund Limited
TOTAL		Sale of 1,321,800 ordinary shares	686408.60	1,321,800 ordinary shares