🕐25.10.12 - 08:27 Uhr

QUARTERLY REPORT



Dear Subscriber,

the Reed Resources September 2012 Quarterly Report has been released today.

Highlights include:

Meekatharra Gold Project
* Mill Refurbishment 90% complete
* Final project capital expenditure estimated to be below $23.8 million budget
* Primary crusher installation commenced
* Accommodation Village upgrade and refurbishment completed
* Mining Contractor mobilising to site
* Mining commenced subsequent to the end of the quarter

Mt Marion Lithium Project
* Materially completed an evaluation of higher-margin lithium battery feed stocks and subsequent release of PFS results endorsing Reed’s integrated down-streaming strategy to maximise the Project’s value
* Evaluating timing/production profile

Barrambie Fe-Ti-V Project
* Completed proprietary hydrometallurgical test work to recover high purity titanium product with quality parameters pending further test work

Corporate
* As of 30 September 2012, Reed had $26.9 million in cash and term deposits, including $14.8 million in restricted use term deposits supporting performance bonds and other contractual obligations
* Appointment of Credit Suisse to act as arranger for a debt facility of $19 million for the working capital requirements for the Meekatharra Gold Project
* Subsequent to the quarter, the completion of an $8 million placement and $2m underwritten share purchase plan to augment working capital as company enters the mining and commissioning phase of the Meekatharra Gold Project

You can download the complete reports from http://www.reedresources.com/quarterly-reports.php

regards
The Reed Resources Team
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