Reed Resources Limited (ASX:RDR) has advised 8.5 million unlisted options have now expired and were not exercised.
The gold producer recently raised $40 million for the development of its Meekatharra gold project in Western Australia.
Focused on commencing production in the December quarter, Reed announced a board refreshment program last week, that included the appointment of Luke Tonkin as CEO and managing director and David Lim as chief financial officer.
Two director’s also resigned from the board.
In the first half of 2012 financial year, Reed Resources reported a net loss $2.3 million.
