Gippsland Limited
Gippsland focuses on world-scale projects which have been over-looked by major resource groups. Projects which have undergone detailed exploration and which have the potential to be brought into production quickly are a prime target for the Company. Gippsland's success in this area is due in part to the Company's philosophy of entering into equitable joint venture arrangements with overseas nationals. The Company's prime assets are the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi tantalum-tin projects located in the Central Eastern Desert of Egypt, adjacent to the western shore of the Red Sea.
Gippsland secures A$800,000 loan
Gippsland Ltd (AIM, ASX: GIP) said it has secured a A$800,000 loan from Abbotsleigh Pty Ltd, a company associated with Melbourne businessman Ian Gandel for working capital purposes.
The 12 months facility will be made available in two tranches, the first being A$439,695 and the second A$360,305.
The loan may at the election of the lender be converted into shares in the company at a conversion rate of one share for every A$0.01 of the amount outstanding under the facility.
Other Gippsland Limited articles
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13/11/09 Gippsland aims high for Egypt tantalum projects
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06/10/09 Gippsland targets base metals, gold in Eritrea - shares jump
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18/08/09 Gippsland raises equity capital from European investors for Abu Dabbab tantalum-tin project
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15/01/09 Gippsland Gets Approval to use Portsite for Abu Dabbab Tantalum Project
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27/11/08 Wodgina – A surprise closure by Talison Minerals
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01/09/08 Gippsland – all set to be the world’s second largest tin and tantalum producer from 2010
Other Gippsland Limited news
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28/07/10 Gippsland continuing tantalum offtake negotiations with HC Starck
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08/07/10 Gippsland to obtain Canadian resource estimates for tantalum deposits in Egypt
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17/06/10 Gippsland encouraged by early copper mineralisation found at Adobha
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16/06/10 Tantalum spot price rise encourages Gippsland Ltd
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30/04/10 Gippsland notes rising tantalum prices as constraints on ‘conflict tantalum’ supply tighten
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19/04/10 Gippsland reports Stellar Resources to drill Heemskirk tin deposit
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28/01/10 Gippsland still sees tantalum shortage by 2011, expects offtake agreements for Abu-Dabbab project soon
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06/01/10 Gippsland announces encouraging results from geochemical survey in Eritrea
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30/10/09 Gippsland foresees tantalum shortage, seeks more funding for Abu Dabbab
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05/10/09 Gippsland secures three prospecting licenses in Eritrea, plans sampling programme this year
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