NEOMETALS LTD — Interim / Quarterly Report 2012

Apr 29, 2012

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

	Name of entity
	Reed Resources Ltd
	ABN 89 099 116 631 Consolidated statement of cash flows
			31 March 2012
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows		Current quarter $A’000		Year to date (9months) $A’000
		- (1,316) - - (1,887) - 21 (85) - -		- (9,228) - - (5,593) - 176 (164) - -
		(3,267)		(14,809)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets (d) subsidiaries 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (Option Fee for Tenements) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		- - (12) - 1,306 - - - - -		- - (5,410) - 1,306 10 3,134 - - (148)
		1,294		(1,108)
		(1,973)		(15,917)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(1,973)	(15,917)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (capital raising costs) Net financing cash flows	- - 300 (71) - (60)	- - 300 (71) - (60)
	169	169
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(1,804) 11,728 -	(15,748) 25,672 -
	9,924	9,924

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A
		231,375
		-
1.25	Explanation necessary for an understanding of the transactions
	Directors’ fees and superannuation: $218,020 Rent & Service charge:$13,355

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

n/a

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest n/a

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities (Standby debt facility with the Executive Chairman) 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	1,500	300
	-	-

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	1,500
	2,000
	-
	1,000
Total	4,500

Reconciliation of cash

Total Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (term deposits)	768	2,579
	-	-
	-	-
	9,156	9,149
Total: cash at end of quarter(item 1.22)	9,924	11,728

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	L51/57 L51/58 P15/4446 P16/2113 P16/2114	Relinquished 27/03/2012 Relinquished 27/03/2012 Expired 28/03/2012 Expired 13/03/2012 Expired 28/03/2012	100% 100% 100% 100% 100%	0% 0% 0% 0% 0%
	E29/787	Granted 08/03/2012	0%	100%

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	264,742,501	264,742,501
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted

• See chapter 19 for defined terms.

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7.7 Options Exercise price Expiry date
(description and 1,800,000 Nil $0.85 31/12/2012
conversion 1,850,000 Nil $1.20 30/06/2013
factor) 2,450,000 Nil $0.80 31/12/2013
4,500,000 Nil $0.80 30/06/2012
3,000,000 Nil $1.00 01/07/2013
4,000,000 Nil $1.00 01/07/2012
500,000 Nil $1.00 01/07/2014
7.8 Issued during
quarter
7.9 Exercised during
quarter
7.10 Expired during
quarter
7.11 Debentures
(totals only)
7.12 Unsecured
notes (totals
only)
----- End of picture text -----

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does ~~/does not*~~ (delete one) give a true and fair view of the matters disclosed.

==> picture [95 x 46] intentionally omitted <==

Sign here: ............................................................ Date: 30 April 2012 Company secretary

Print name: Jason Carone

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

== == == == ==

• See chapter 19 for defined terms.

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