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Additional Information

Market:	ASX FRA
Sector:	General Mining
EPIC:	GIP
Latest Price:	0.02 (10.00% )
52-week High:	0.05
52-week Low:	0.01
Market Cap:	17.88M

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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.

Tantalum spot price rise encourages Gippsland Ltd

Wednesday, June 16, 2010

UK based Metal-Pages group has reported the new tantalum spot price (as tantalite - Ta2O3), has increased by 8.77% from US$50 - 54 to US$54 - 60 per pound, an increase of some 70% since December 2009.

This price increase has followed similar increases that have occurred during the past six months, reflecting the widely predicted shortage and consequence strong demand of supply of this highly strategic metal during the next two years and beyond.

ASX and Frankfurt-listed Gippsland (ASX: GIP; FRA: GIX) with its 142.5 million tonne Abu Dabbab-Nuweibi projects, containing approximately 56 million pounds of contained tantalum (as Ta2O3), would have to come into calcuations in terms of potential long term supply of tantalum upon development of its projects.

The directors of Gippsland view the company's Abu Dabbab Tantalum-Tin-Feldspar Project as "the most advanced new tantalum project, with JORC Code Resources and Reserves that exceed competitors by a significant margin".

"Abu Dabbab will become the world's largest single producer of tantalum feedstock, an opinion that is supported by an increasing number of leading tantalum refiners and electronics industry majors seeking a stable, long-term and conflict-free supply of this vital strategic raw material."

The past quarter has seen continued and increased international focus on the problems associated with Conflict Tantalum being produced in Central Africa, predominately in the Democratic Republic of Congo.

Tantalum metal powder is used in the production of capacitors for cell phones, laptops and flat screens.

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