gippies should read-re mil, page-2

Thanks Scarva.

It appears there are multiple ways to raise finance with the usual route of carrying out a Bfs not necessarily crucial to getting agreements on finance.More who you know.

Also the Australian market interest,or the lack thereof, is similar.

" .....it(Mil) had a very checkered career in Australia thanks to the vagaries of the government of South Australia, competition from Australian Magnesium and indecision over where to site the magnesium plant which were all well documented on Minesite. Second, investors Down Under never cottoned onto the ultimate strength of the company once Thyssen Krupp became involved with an offtake agreement for 100 per cent of production."

Just as the Australian investment community continues to be slow on the uptake with Gip(perhaps still blinded by the Sgw spectre?) attaining the large tantalum off-take in January 2005.The UK appears to be not quite so slow.It was the dual Jan 2005 annmnts(off-take confirmation/5% royalty abolition) that pushed the UK market up so strongly.

"Offtake was agreed, but ThyssenKrupp bought no shares in the company. What it did was promise that it would help with the equity funding on which it has to embark, as well as lining up banks for the development finance."

Whether this has(or will turn out to be)the case with Gip and their large off-taker is hard to know.I'm thinking that this is not the case atm as we have not seen a commensurate increase in Gip's market cap which one would expect if a large off-take customer was to do similar for Gip.However this may all turn around if Gip attain the debt finance portion required for the project off their own back.It should certainly give the sp a boost.It was one of the main factors that the H&B report required to see a re-rating of Gip on the UK markets,for obvious reasons.

Egypt definitely continues to go from strength to strength in the worlds financial/economic eyes as they continue to attract high powered delegations/ invitations and investments from the worlds current major economic players.This should certainly lessen any associated soveriegn risk(always a factor with African projects)as the Egyptian Government continues to give investment the priority over any bureacratic doubts that would have stalled any promising projects.One only has to refer to the current investment/expansion in Egypts energy sector.The changed Egyptian attitude towards Cnt's project is probably a good barometer in this regard as well.

So - we continue to wait with some of the most important factors that relate to attaining finance skewed in Gips direction.With no further delay annmnt from the company and only continually positive comments(to holders) from Gip management on finance/project progress we can only expect to hear something quite soon.

d.