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REED RESOURCES LTD - ASX: RDR
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Reed Resources Ltd acquired the 2.5million oz Meekatharra Gold Project in January 2011 and is currently carrying out a BFS with the intention of recommencing operations in 2012.
Reed plans on being one of the world's largest producers of lithium bearing spodumene through the development of the Mt Marion Lithium Project. Production is anticipated to commence in 2011.
Reed owns Australia's highest-grade vanadium reserve and is currently seeking construction finance.
Meekatharra Gold
The Meekatharra gold project, which is located in central Western Australia, is a wholly owned entity of Reed Resources Ltd and was acquired in January 2011. The existing resources of 2.5Moz @ 1.7g/t and 0.5Moz @ 3.5g/t reserves were last calculated at a gold price of $750-$800/oz. The mining and geology team are re-modelling and re-optimising the main resources at current economics with a view to targeted resource conversion and expansion.
Mt Marion Lithium
Resource of 10.5 million tonnes @ 1.4% Li2O for 146,500 tonnes of contained Li2O. The resource is open along strike and down dip. The Joint Venturer Partners expect to mobilise a processing plant and related equipment with a production rate of 17,000 tonnes per month of +6.5% Li2O concentrate in 2011.
Barrambie Vanadium
Definitive Feasibility Study into the production of ferrovanadium was completed in May09. An MOU for the offtake of the entire production during the first ten years has been signed with a major commodity trader.
Comet Vale Gold
Operations currently on hold while appropriate ore treatment options are sourced. The total Indicated and Inferred Mineral Resource now comprises 534,000 tonnes at an average grade of 10.8g/t Au for 186,000 ounces of gold.
Mt Finnerty Iron
Cliffs Natural Resources has earned an eighty per cent interest in Reed Resources' Mt Finnerty Iron Ore project. Cliffs are targeting an initial resource of 5-10Mt of DSO to complement their Koolyanobbing operations.
Mt Finnerty Nickel
Previous exploration in the area by Western Mining Corporation (WMC) during the 1970s discovered a gossan; and two vertical drill holes in a subsequent drilling program intersected 1.34% Ni (BRFP28) and 1.14 % Ni (BRFP21) each over an interval of 3 metres. In addition, four highly anomalous soil geochemical anomalies have been identified that are coincident with the basal ultramafic/basal contact, spread over 10km of strike.
Bell Rock Range
Bell Rock Range is highly prospective for several commodities, particularly Ni-Cu sulphide and PGE mineralisation. Inability to gain access agreements have resulted in major delays to serious exploration work.
Comet Vale Nickel
Low intensity exploration.
Mine For
gold, lithium, vanadium, iron ore, nickel, copper
Location of operation(s)
Western Australia
Address
Level 1 672 Murray St
WEST PERTH, WA, AUSTRALIA
Phone
(61 8) 9322 1182
Website
Last Updated
16/08/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
