Metals X Limited — Major Shareholding Notification 2012

Dec 26, 2012

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme Reed Resources Limited

ACN/ARSN 099 116 631 1. Details of substantial holder (1)

Name METALS X LIMITED (“METALS X”) and its related bodies corporate listed in “Annexure A” to this notice (“Metals X Group Entities”)

ACN (if applicable) 110 150 005

The holder ceased to be a substantial holder on 22 / 11 / 2012

The previous notice was given to the company on 27 / 08 / 2012

The previous notice was dated 27 / 08 / 2012

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person’s votes affected
22/11/2012	Metals X Limited and each Metals X Group Entity	Issue of 11,110,046 ordinary shares pursuant to share placement resulting in dilution of relevant interest	N/A	N/A	N/A
25/10/2012	Metals X Limited and each Metals X Group Entity	Issue of 44,444,445 ordinary shares pursuant to share placement resulting in dilution of relevant interest	N/A	N/A	N/A
25/10/2012	Metals X Limited and each Metals X Group Entity	Acquisition of 1,944,446 ordinary fully paid shares	$350,000.28	Ordinary shares 1,944,446	1,944,446

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN (if applicable)	Nature of association
N/A	N/A

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Metals X Limited	Level 3, 123 Adelaide Terrace, EAST PERTH WA 6004

Signature
	print name	Fiona Van Maanen	capacityCompany Secretary
	sign here		date24 / 12 / 2012

DIRECTIONS

(1)	If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an
	equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to
	throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the
	form.
(2)	See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.

(3) See the definition of “associate” in section 9 of the Corporations Act 2001.

(4)	Include details of:	Include details of:
	(a)	any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any
		document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or
		arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
	(b)	any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to
		which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
	See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

(5)	Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become
	entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be
	included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom
	the relevant interest was acquired.

(6) The voting shares of a company constitute one class unless divided into separate classes.

(7) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure “A”

This Annexure “A” of 1 page referred to in the Form 605 (Notice of Ceasing to be a Substantial Holder), signed by me and dated 24 December 2012.

Signed: Fiona Van Maanen

The following bodies corporate are related bodies corporate of Metals X Limited:

• Bluestone Australia Pty Ltd;

• Bluestone Nominees Pty Ltd;

• Bluestone Mines Tasmania Pty Ltd;

• Metals Exploration Pty Ltd;

• Metex Nickel Pty Ltd;

• Hinckley Range Pty Ltd;

• Austral Nickel Pty Ltd; and

• Chinggis Metals Pty Ltd; and

• Mad Metals Pty Ltd; and

• Westgold Resources Limited; and

• Aragon Resources Pty Ltd; and

• Castile Resources Pty Ltd; and

• Big Bell Gold Operations Pty Ltd; and

• Fulcrum Resources Pty Ltd.