Gippsland Limited - (Sydney ASX ticker: GIP)
website: www.gippslandltd.com.au



2009
Gippsland is an Australian-based international resource company that focuses on projects that have been overlooked by major producers, having undergone detailed exploration and offer the potential of early production. Its Egyptian ventures are held 50:50 with the Egyptian government but with its Board having a casting vote.

Its prime assets are tantalum-tin projects in the Central Eastern desert of Egypt adjacent to the Red Sea, and notably include the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi projects. The Abu Dabbab project, with an annual mill-feed rate of 2 million tonnes for a production level in excess of 650,000 lbs of tantalum pentoxide, a likely 20 year mine-life, and a resource base in excess of 140 million tonnes, will rank Gippsland as the world’s largest producer of tantalum. Negotiations on the forecast project financing need of US$173 million based on 80% debt and 20% equity have taken longer than planned to complete. A 10 year off-take has been agreed with the German HC Starck group for the future annual supply of 600,000 lbs. Gippsland has undertaken exploration drilling within the Wadi Allaqi region where it has obtained highly encouraging gold results, and a copper-nickel deposit. Gippsland also has a 40% free-carried interest in the Tasmanian Queen Hill tin deposit, with an indicated and inferred resource of 7.3 million tonnes, and its wholly-owned subsidiary Nubian Resources has been granted three prospecting licences covering 300 sq. km in North Eritrea, in an area that has had minimal previous exploration but has the potential to host high-grade gold and base metal deposits.

In March 2009 Gippsland withdrew from AIM following the resignation of its Nomad and its joint brokers, and to be solely listed on the Sydney ASX, thereby enabling clear cost savings.

2008
Gippsland is an Australian-based international resource company with its prime assets being tantalum-tin projects in the Central Eastern desert of Egypt adjacent to the Red Sea, and notably include the 44 million tonne (73% measured and indicated) Abu Dabbab and the 98 million tonne Nuweibi projects, where its 50% interest is matched by an Egyptian State partner. The Abu Dabbab project, with an annual mill-feed rate of 2 million tonnes for a production level in excess of 650,000 lbs of tantalum pentoxide, will rank Gippsland as the world’s second largest producer. Capital cost is estimated at US$125 million, with funding planned on an 80% debt and 20% equity basis. A 10 year off-take has been agreed with the German HC Starck group for a major part of the production; negotiations on both project financing with the German State-owned KfW Group, and on the engineering, procurement and construction management contract are both nearing conclusion. Also, Gippsland has undertaken exploration drilling within the Wadi Allaqi region where it has obtained highly encouraging gold results in three of its eight separate tenements, together with a copper-nickel deposit. Gippsland controls its Egyptian 50:50 joint ventures through its Board’s casting vote. Gippsland also has a 50% interest in the Tasmanian Zeehan tin deposit, with an indicated and inferred resource of 7.3 million tones.

2007
Gippsland is an Australian-based international resource company with its prime assets being tantalum-tin projects in the Central Eastern desert of Egypt adjacent to the Red Sea, and notably include the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi projects, where its 50% interest is matched by an Egyptian State partner. The recently completed Abu Dabbab feasibility study, based on an annual mill-feed rate of 2 million tonnes for a production level in excess of 650,000 lbs of tantalum pentoxide, will rank Gippsland as the world’s second largest producer. Current spot market prices for tantalum pentoxide are approaching US$ 50 per lb. However, several years of production has been already pre-sold. In addition, Gippsland has been undertaking exploration drilling within the Wadi Allaqi region and has obtained highly encouraging gold results in three separate tenements.