Diversified resources company Reed Resources (ASX:RDR) has requested the ASX, and been granted, a temporary suspension to extend the trading halt requested on Thursday 7 October.
Reed stated, 'RDR has received potentially significant assay results of costean sampling of alluvial mineralisation for which check assays are currently being conducted for integrity and verification at other laboratories with Australia prior to release of this information to the market.'
Reed continued, 'RDR is also concerned that confidentiality of this information, or aspects of it, may have been lost to the market, or a segment of it.'
Reed anticipates the shares to resume trading on Monday 18 October, one week from now, allowing the company time to make a more informed announcement to the ASX.
The company has recently devised a corporate strategy to resume gold production from its gold assets, in Western Australia.
An exploration program involving RC and diamond drilling is aimed at expanding the existing resource base at Comet Vale and define sufficient reserves to resume production at the Sand Queen Gold Mine as a mechanised decline operation.