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Ausmelt Provide Exclusive Due Diligence Period for Prospective Buyer

Oct 22 2009

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Further to the Company's announcement on 19 October 2009 of the receipt of an indicative non binding offer, Ausmelt has provided an exclusive due diligence period and entered into a "No Shop No Talk" obligation.

Discussions are at a preliminary stage, are subject to due diligence and the Board does not expect to be in a position to provide any further update until early December 2009. The price is subject to various conditions and due diligence and is in the range of $0.60 to $0.70 per share.

There is no guarantee that discussions will result in a binding commitment nor that any offer would be made at a price or within a range which would be recommended by the Ausmelt Board.

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