Description
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.
Share Price
In-depth Gippsland Limited Proactive Investors Articles
- 13/11/2009 Gippsland aims high for Egypt tantalum projects
- 06/10/2009 Gippsland targets base metals, gold in Eritrea - shares jump
- 18/08/2009 Gippsland raises equity capital from European investors for Abu Dabbab tantalum-tin project
- 15/01/2009 Gippsland Gets Approval to use Portsite for Abu Dabbab Tantalum Project
- 27/11/2008 Wodgina – A surprise closure by Talison Minerals
Recent Gippsland Limited news
- 28/01/2010 Gippsland still sees tantalum shortage by 2011, expects offtake agreements for Abu-Dabbab project soon
- 06/01/2010 Gippsland announces encouraging results from geochemical survey in Eritrea
- 30/10/2009 Gippsland foresees tantalum shortage, seeks more funding for Abu Dabbab
- 05/10/2009 Gippsland secures three prospecting licenses in Eritrea, plans sampling programme this year
- 28/08/2009 Gippsland loan converted into ordinary shares
Presentations & Company Media
Related Research & Media
No Documents available.
Company Statement:
Gippsland Limited is an Australian based international resource company listed on the Australian Stock Exchange where it trades under the codes "GIP" (Shares) and "GIPO" (Options).
Gippsland is managed by Directors who provide a complimentary blend of technical and commercial skills, and having a long history in the successful running of technically complex private and ASX listed companies.
Because of the Directors' international experience, 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.
An Environmental Impact Assessment (EIA) completed to World Bank standards has been approved by the Egyptian Environmental Affairs Agency. A Bankable Feasibility Study undertaken by Lycopodium Engineering Ltd determined that the Abu Dabbab project has the potential to become a major tantalum supplier to the steadily expanding global tantalum industry. The Lycopodium BFS indicated that the project will produce in excess of 650,000 pounds of tantalum pentoxide per year over a likely mine-life of 20 years. The Company has executed an offtake agreement with the tantalum major HC Starck GmbH of Germany for the sale of 600,000 pounds of tantalum pentoxide per year for a 10 year period.
The company is presently negotiating with the German government owned KfW Bankengruppe for project finance which is anticipated will be arranged on a most favourable 80% debt and 20% equity basis.
Tantalum metal powder is an indispensable intermediate for the production of capacitors without which modern cell phones, laptops or flat screens would not be possible. HC Starck in particular is a specialist for high capacitance tantalum powders which are above all indispensable for the latest generation of modern electronic appliances. Tantalum metal is also an essential metal in the production of high temperature applications such as jet engine turbine blades. Tantalum has a high level of bio-acceptability which makes it the preferred metal of medical implants (orthopaedics). Due to its extreme resistance to acid corrosion it is used in chemical plant and equipment.
The Company’s gold exploration of the Wadi Allaqi area located to the south-east of Aswan in Egypt has yielded highly encouraging results. High-grade gold mineralisation has been delineated in places up to 80 metres wide and in excess of 2.2km long. The limited amount of drilling undertaken to date has provided a first-pass inferred resource of 1.1Mt at 2.3g/t (uncut) and 2.0g/t (10g/t cut) for 85,000oz Au.
The Company holds 40% free-carried interest in the Tasmanian Queen Hill tin deposit containing 7.3Mt at 0.69% Sn. The Company’s Queen Hill JV partner Stellar Resources Ltd is presently considering an accelerated exploration programme for the project.
Current Operations:
Abu Dabbab - Tantalum-Tin-Feldspar (50% Gippsland)
The Abu Dabbab tantalum-tin-feldspar deposit is located within the Central Eastern Desert in Egypt. The deposit is located about 16km inland from the western shore of the Red Sea. The deposit is covered by two Exploitation Leases (1658 & 1659) granted in the name of Tantalum Egypt JSC, a company incorporated in Egypt and owned 50% by the Egyptian Government via the Egyptian Mineral Resources Authority (EMRA) and 50% by Tantalum International Pty Ltd which is a 100% owned subsidiary of Gippsland Ltd. The proposed plant site located 6km from the Red Sea coast has been secured under Ministerial Decree No. 11/2003 and provides for an area of 14km².
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Abu Dabbab Tantalum Deposit
3D Image Map, of the Abu Dabbab Project
To view more on the Abu Dabbab Project, please click here
Nuweibi – Tantalum, Niobium, Feldspar (Gippsland 50%)
Nuweibi is located 17km to the south-southwest of the Abu Dabbab deposit and 30km inland from the western shore of the Red Sea. Tin mineralisation was first discovered at Nuweibi in 1944 but it was not until 1970 that tantalum was recognised. The deposit was the subject of detailed exploration by the same joint Soviet-Egyptian team that explored Abu Dabbab. The work included 23 diamond drill holes totalling 2,746m, four surface trenches and four bulk samples for metallurgical testwork.
To view more information on the Nuweibi Project - Please click here
Wadi Allaqi Project
Wadi Allaqi Project
Gippsland has the right to explore nine tenement areas located in the Wadi Allaqi region of South-eastern Egypt. Eight of the areas contain historical gold workings with the ninth containing a copper-nickel deposit
The Wadi Allaqi region is located to the southeast of Aswan in the south-western part of the Eastern Desert of Egypt covering an area of about 12,000km2. The area, which is bounded to the west by Lake Nasser and to the east by the Red Sea is accessible via an asphalt road from Aswan located to the northwest. Elsewhere access is available by 4-wheel drive vehicles along the wadis.
Egypt has a long history of gold mining with the earliest references to gold mining in the pre-4,000 BC period. It is estimated that up to 3,000t of gold could have been mined by the Pharaohs from lands held under their control. Within the Wadi Allaqi region the earliest reference to mining is the Twelfth Dynasty of the Middle Kingdom (1991-1786 BC) when the area was known as the region of Akita in the Land of Wawat. Mining probably continued in episodes during the Pharaonic period. Further mining took place during the Roman era from 181 BC to 5 AD and then again during Islamic times from the ninth century up until the fourteenth century. In the early 1900s the area was explored and mined by British and South African companies, principally the Nile Valley Company Ltd at Um Garayat and Haimur, through to the 1920s. Some small time mining continued through to the early 1950s.
The ancient historical mining was focused entirely on the near-surface high grade quartz veins and alluvial gold. Evidence of the historical mining activity is clearly seen in stoped out quartz veins at shallow depths by means of shafts and adits and the presence of numerous stone tools used in crushing the gold ore. Waste dumps and tailing are present at a number of these deposits indicating that they were sites of significant mining activity by the ancients.
Apart from limited regional exploration during the 1960s and 70s under the auspices of the United Nations there has been no significant exploration or mining since the early 1950s when Egypt became a republic.
The nine Wadi Allaqi prospects, each 16km2 in area, include:
| Gold | Copper-nickel | |
| Um Garayat | Um Garayat regional | Abu Swayel |
| Nile Valley Block A | Nile Valley Block E | |
| Seiga | Um Tiur | |
| Haimur | Um Shashoba | |
Wadi Allaqi Project Map of Areas, on a Topographic Image
To view more in depth information on Wadi Allaqi Project please click here
ZEEHAN – Tin (Gippsland 40%)
The Zeehan tin (Sn) deposit is located within a major tin province in the northwest of Tasmania approximately 15km from the large Renison tin deposit. Tin mineralization occurs as cassiterite and stannite in four deposits; Queen Hill, Severn, Montana and Golf Course.
Past drilling totalling 23,000m has established the presence of a substantial tin resource. The Severn deposit, the largest of the four, is located approximately 120m below the surface and is considered to be open at depth. To a depth of 500m below surface, the inferred resources include 5.1Mt at 0.6% Sn within the 1% mineralised envelope. At Queen Hill the mineralization outcrops on a hill approximately 300m due west of the Severn deposit and contains indicated resources of 1.8Mt at 0.82% Sn. The mineralisation includes minor amounts of copper, lead, zinc and silver
To View more information on the Zeehan Project, please click here
Management
Ian J Gandel (Non-Executive Chairman), LLB, BEc, FCPA, FAICD
Robert John (Jack) Telford (Director & Chief Executive Officer), A.W.A.I.T (Chem.) M.R.A.C.I.
Jon Starink (Executive Director) BSC (Hon1), BChemE(Hon1), MApplSc, F AusIMM, FIEAust, FIChemE, MRACI, MTMS, CPEng, CChem, CSci
John Stuart Ferguson Dunlop (Non-Executive Director) BE, M Eng Sc, P Cert Arb, CP, F AusIMM, F IMMM, M SME, M CIMM, M MICA
John Damian Kenny (Non-Executive Director) B. Com (Hons), LLB
John Morrison Chisholm (Chief Geologist) B.Sc (Hons), PhD., FAusIMM, F.AIG
To view more Information on Gippsland Management, please click here
Major Shareholders
|
Shareholder Name |
No. of Shares |
Relevant Percentage |
|
Mr RWB Beale, Situate Pty Ltd, Taveroam Pty Ltd |
25,700,000 |
9.90% |
|
International Finance Corp |
25,000,000 |
9.63% |
|
Euroclear Nominees Ltd |
19,328,333 |
7.45% |
|
Mr RJ Telford, Eco International Pty Ltd |
13,568,124 |
5.23% |
|
Smith & Williamson Nominees Ltd |
12,450,000 |
4.80% |
|
ANZ Nominees Ltd |
11,343,470 |
4.37% |
|
King Town Holdings Pty Ltd |
9,351,000 |
3.60% |
|
Total significant shareholders |
116,740,927 |
44.98% |
Contact Information
Registered Office
Suite 4, 207 Stirling Highway
Claremont WA 6010
Australia
Postal Address
PO Box 352
Nedlands WA 6909
Australia
Telephone
+61 8 9340 6000
Facsimile
+61 8 9340 6060
Email
info@gippslandltd.com
Website
www.gippslandltd.com
Corporate Information
Share Registry
Security Transfer Registrars Pty Ltd
Alexandrea House
Suite 1, 770 Canning Hwy
Applecross WA 6153
Australia
PO BOX 535
Applecross WA 6953
Australia
Telephone: +61 8 9315 2333
Facsimile: +61 8 9315 2233
Email: registrar@securitytransfer.com.au
Associated Brokers
WH Ireland Limited (UK)
24 Martin Lane
London EC4RODR
United Kingdom
DJ Carmichael Pty Ltd
Level 11, 77 St Georges Terrace
Perth 6000
Western Australia
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