quarterly activities report due, page-5

Just so you are aware he has a large option interest. From the company announcements below.



INITIAL DIRECTOR'S INTEREST NOTICE

Name of Company Mount Gibson Iron Limited

ABN 87 008 670 817

We (the entity) give the ASX the following information under listing
rule 3.19A.1 and as agent for the director for the purposes of section
205G of the Corporations Act.

Name of Director Brian Godfrey Johnson

Date of Appointment 21/12/2001

Part 1 - Director's relevant interests in securities of which the
director is the registered holder

Number & class of securities

Nil

Part 2 - Director's relevant interests in securities of which the
director is not the registered holder

Name of holder & Number & class
nature of interest of securities

Western Ventures Pty Ltd 42,588 ordinary shares
of which BG Johnson is a 825,000 options exercisable
Director and >20% shareholder on or before
31 December 2003 at
25 cents
3,000,000 options exercisable
between 1 January
and 31 December 2003
at 25 cents

Part 3 - Director's interests in contracts

Detail of contract Nil

Nature of interest Nil

Name of registered holder
(if issued securities) Nil

No. and class of securities
to which interest relates Nil