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## INTERESTS IN THE SHARES OF THE COMPANY 

As at the date of this report, the interests of the Directors in the shares and options of Metals X Limited were: 

<img src='content_image/263547.jpg'>

(1) Mr Zhang is a director of Jinchuan Group Limited which holds 176,000,000 fully paid ordinary shares in the Company. 

## COMPANY SECRETARY 

Fiona Van Maanen - Company Secretary 

Mrs Van Maanen is a CPA, holds a Bachelor of Business (Accounting) degree and a Graduate Diploma in Company Secretarial Practice. She has many years of accounting and financial management experience in the mining and resources industry and has been with the Company since incorporation. 

## DIVIDENDS 

No dividends have been paid or declared by the Company during the financial period or up to the date of this report. 

Refer to note 10 for available franking credits. 

## PRINCIPAL ACTIVITIES 

The principal activities during the year of entities within the Consolidated Entity were: 

• exploration for and the mining, processing, production and marketing of tin concentrate in Australia; 

• exploration for nickel in Australia; 

• exploration for phosphate in Australia; 

• development of nickel projects; and 

• exploration and mining for precious and base metals through significant shareholdings in Westgold Resources Limited, Independence Group NL, Mongolian Resource Corporation Limited and Aziana Exploration Corporation. 

There have been no significant changes in the nature of these activities during the year. 

## EMPLOYEES 

The Consolidated Entity employed 87 employees at 30 June 2011 (2010: 81). 

## OPERATING AND FINANCIAL REVIEW 

A full review of the operations of the Consolidated Entity during the year ended 30 June 2011 is included on pages 3 to 20. 

