Republic Gold Limited (ASX:RAU) Quarterly Report For The Period Ending 30 September 2009

Brisbane, Nov 2, 2009 AEST (ABN Newswire) - Republic Gold Limited (ASX:RAU) is pleased to provide to shareholders the September 2009 Quarterly Report which provides a summary of the progress made by the company.

On 7th May 2009 the Company announced that it closed a Placement and signed an Underwriting Agreement for a 1-for-4 renounceable Rights Issue to all shareholders also at a price of 2.0 cents per share. The Rights Issue was fully underwritten by Patersons Securities Limited. The funds raised from this financing will enable the Company to complete feasibility studies for its Amayapampa Gold Project in Bolivia and its Tregoora and Northcote Gold Projects in Far North Queensland. Both the Placement and sub-underwriting of the Rights Issue have been completed with Patersons' institutional and high net worth clients.

The terms of the Placement and renounceable Rights Issues were as follows: -

- 47,250,000 placement shares placed at 2.0 cents per share to raise A$945,000 before costs.

- Each placement share has two free attaching listed options. One option is exercisable at 3.0 cents by 5 June 2010. The second option is exercisable at 4.0 cents by 5 June 2011.

- Pro-rata 1-for-4 issue at 2.0 cents to all shareholders on the Company's share register at 4.00pm on the Record Date which is 18 May 2009.

- The Rights Issue was fully underwritten and resulted in the allotment of 197,229,291 New Shares to raise A$3,945,000 before costs.

- Each New Share has two free attaching listed options. One option is exercisable at 3.0 cents by 5 June 2010. The second option is exercisable at 4.0 cents by 5 June 2011.

At the close of the Issue approximately 80% of all shareholder entitlements were taken up. Applications from shareholders for additional shares resulted in the Issue being heavily over-subscribed, with an excess of the total issue of shares available being subscribed for, therefore these applications were scaled back.

Directors' Shareholdings

As a result of the 1-for-4 rights Issue, each director increased his holding in the Company during the Quarter.

At the end of the Quarter each director had the following interest in the Company: -

- Mr PA Wicks - Interest in 2,750,000 ordinary shares, 5,000,000 options exercisable at 6.25 cents by 10 October 2010, 1,350,000 options exercisable at 3 cents by 5 June 2010 and 1,350,000 options exercisable at 4 cents by 5 June 2011 held by Kinetic Investment Co. Pty Ltd.

- Mr JP Kelly - 1 ordinary share, 3,825,000 ordinary shares held by the Possum Superannuation Fund, interest in 64,397,099 ordinary shares, 13,074,392 options exercisable at 3 cents by 5 June 2010 and 13,074,392 options exercisable at 4 cents by 5 June 2011 held by Zeus Gold Pty Ltd, 2,000,000 options exercisable at 6.25 cents by 10 October 2010 held by the Possum Superannuation Fund and 10,000,000 options exercisable at 6.25 cents by 10 October 2010 held by John Kelly.

- Mr GJ Barns - 30,001 ordinary shares, interest in 64,397,099 ordinary shares, 13,074,392 options exercisable at 3 cents by 5 June 2010 and 13,074,392 options exercisable at 4 cents by 5 June 2011 held by Zeus Gold Pty Ltd and 4,000,000 options exercisable at 6.25 cents by 10 October 2010.

- Mr N Zurkic - 160,000 ordinary shares and 10,000,000 options exercisable at 6.25 cents by 27 October 2011 and 115,000 options exercisable at 3 cents by 5 June 2010 and 115,000 options exercisable at 4 cents by 5 June 2011.

- Dato BK Choo - 18,175,000 ordinary shares, 3,635,000 options exercisable at 3 cents by 5 June 2010 and 3,635,000 options exercisable at 4 cents by 5 June 2011 held through Nefco Nominees P/L and 6,000,000 options exercisable at 6.25 cents by 27 October 2011.

Initial Exercise of Options

During the Quarter approximately 14,900,000 June 2010 3-cent options were exercised raising A$450,000 in cash.

Cash Assets

Cash on hand at the end of the September Quarter was approximately A$2,692,000.

For the complete Republic Gold Quarterly Report for the period ending 30 September 2009, please click the link below:

http://www.abnnewswire.net/media/en/docs/61690-ASX-RAU-327236.pdf

Contact

John Kelly Managing Director Republic Gold Limited Mob: +61-418-577-759