SALTY the intrest will be here very soon i think. Gippsland...

SALTY the intrest will be here very soon i think. Gippsland Limited has began trading on the Alternative Investment Market (AIM) i

The emerging tantalum (high performance metal) and feldspar (used in the production of ceramic tiles) producer, raised £0.7m (€1.04m) through the issue of 25 million shares at 2.8 pence to institutional and other investors.


Gippsland has a market capitalisation at the admission price on commencement of trading of GBP5.3 million (A$13 million). Gippsland is the first ASX listed company to admit to AIM under the "fast track" AIM Designated Market Rules.
3.75 closed :)


This was done in conjunction with UK based broker Hoodless Brennan & Partners plc, while Grant Thornton is acting as the Company’s Nominated Adviser.

Gippsland has a market capitalisation at the admission price on commencement of trading of £4.6m (€6.84m).

The company has a 50% joint venture with the Egyptian Government on the 40Mt Abu Dabbab and the 98Mt Nuweibi tantalum deposits located in Egypt.

The company will use the funds raised to finalise the Abu Dabbab bankable feasibility study which is scheduled for completion during June 2004.

The project will be afforded tax-free status for the first 20 years of operation.

Gippsland has concluded a Heads of Agreement with a major European group for the off-take of 2.65 million tonnes of feldspar over a five-year period.

Speaking today at the AIM admission ceremony Jack Telford, Executive Chairman said: "The recently executed off-take agreements for tantalum and feldspar together with Gippsland’s admission to AIM will greatly assist the Company in gaining international recognition for our two world class tantalum resources.

"We are progressing well with our Abu Dabbab bankable feasibility study which, based on a scheduled mill feed-rate of one million tonnes per annum, will make us the world’s third largest producer of tantalum," Telford added.
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