RNS Number:3701L
Consolidated Minerals Limited
08 January 2008



9 January 2008


Consolidated Minerals Limited (ASX:CSM, AIM:CNM, FSE:CMN) advises that Palmary
Enterprises (Australia) Pty Limited ("Palmary") has lodged a notice of change of
interests of substantial holder.

The notice discloses that Palmary has a 91.48% shareholding in Consolidated
Minerals, represented by 241,639,795 fully paid ordinary shares. This is a
reduction from the previously announced holding of 95.37% as a result of failed
trade settlements of on-market purchases of 12,110,691 CSM shares.

Palmary has also advised that:

(a)   its offer for all the ordinary shares in CSM closed at 7.00pm (Melbourne
time) on 8 January 2008;

(b)   it is entitled to proceed with compulsory acquisition. As set out in
Palmary's Third Supplementary Bidder's Statement dated 24 December 2007, Palmary
will decide whether to exercise compulsory acquisition rights following the
expiry of its offer. If Palmary decides to proceed with compulsory acquisition,
it will dispatch a compulsory acquisition notice within one month after the end
of the offer period.

A copy of Palmary's announcement is available on the ASX website www.asx.com.au



John Abbott
Company Secretary


The Company's nominated adviser is RFC Corporate Finance Ltd - contact 
Stephen Allen +61 8 9480 2507.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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