::: MvM Commodity Group :::

🕐26.10.10 - 07:27 Uhr

EXS: Quarterly Activities & Cashflow Report

ASX Quarterly Report

Exco has released its latest Quarterly Activities and Cashflow Report for the period ending 30 September 2010.

Highlights include:

White Dam Gold Project, South Australia

Gold production and sales ahead of expectations: JV production (100%) for the quarter of 17,524 ounces.

Exco’s sales were 13,335 ounces, @ average price of A$1,345/oz.

On-track for early repayment of Barclays facility:Exco delivered 7,348oz to Barclays in the quarter.

On target to pay the financing off by December 2010, more than six months ahead of schedule.

Near mine exploration & resource development: Drilling completed at Vertigo, White Dam North & South and Ambush prospects.

Indicated Resource for Vertigo in Q4/2010 & Reserve Statement to follow.

Cloncurry Copper Project (CCP), NW Queensland

DFS update:The DFS continues to progress well with work commencing on preparation of the mineable reserve for the project & finalisation of a processing flowsheet for the standalone option.

EIS Update: The approvals process continues with preparation of the Environmental Management Plan (EMP) for the Project, with submission to DERM planned for Q4/2010.

Development Strategy: The Board & Management are proactively engaged in a review of development strategies for the CCP, with a view to selecting a definitive option in the coming months.

Exploration Activities

High grade intersections at Salebury demonstrate resource potential:ECDD002 intersected 48m @ 2.18% Cu & 1.97 g/t Au incl 32m @ 2.87% Cu & 2.76 g/t Au suggesting significant new resource potential.

Further positive Cu-Au-Co results at Tanbah: Latest results include 23m @ 1.52% Cu, 0.75 g/t Au & 206ppm Co in ECDT341 and 202m @ 0.32% Cu, 0.32 g/t Au and 676ppm Co in ECDT345.

Hazel Creek Project:Visual confirmation of mineralisation in initial drill programs at Turpentine and Eight Mile Creek East.

Assays awaited and further drilling underway.

Corporate

Initial Share Placement: Placement to Sin-Tang Development Pte Ltd on 17/8/10.

Exco & Sin-Tang will use best endeavours to reach agreement on a strategic investment by Sin-Tang in the CCP.

To download a full copy of the report, please click on the following link: