Gippsland Limited is an Australian based international resource company listed on the Australian Stock Exchange where it trades under the code "GIP". These shares also trade on the Frankfurt Deutsche Börse using the code "GIX".
Gippsland is managed by Directors who provide a complementary 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 44.5 million tonne Abu Dabbab Tantalum-Tin-Feldspar Project and the 98 million tonne Nuweibi Tantalum Project located in the Central Eastern Desert of Egypt, adjacent to the western shore of the Red Sea.
Following detailed evaluation of alternative production profiles for the Abu Dabbab Project, the Company has proceeded with a change of scope for the Abu Dabbab Project from 2 million tonnes per annum “Mtpa” of Run-of-Mine ore “ROM” to 3 Mtpa of ROM.
Revised pit optimisation studies suggest a mine life of 13.5 years. The Company has completed Whittle pit re-optimisations at both 2 and 3 Mtpa based on both Measured and Indicated Mineral Resources and Measured, Indicated and Inferred Mineral Resources. In each case a number of scenarios over a range of metal price assumptions were performed. The results indicate that the 3 Mtpa ROM option is superior to the 2 Mtpa ROM case on technical, economic and commercial (marketing) grounds.
At this expanded rate of production, the average annual output of products is estimated to be approximately:
• 925,000 pounds of tantalum oxide Ta2O5 in slag;
• 2,200 tonnes of tin as tin metal; and
• up to 2.4 Mtpa of feldspar.
Tantalum metal powder is a vital component in the production of capacitors without which modern cell phones, laptops or flat screens would not be possible. High capacitance tantalum powders are indispensable for the production of 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 has an interest in eight gold prospects and one copper-nickel prospect located in the Wadi Allaqi region situated to the south-east of Aswan in Egypt. Exploration of the current Wadi Allaqi Exploration Licences will re-commence following the granting of tenements under application.
Gippsland’s 100% owned subsidiary Adobha Resources (Eritrea) Pty Ltd, formerly Nubian Resources Pty Ltd, has been granted two 2,200km2 Exploration Licences in the Adobha region of The State of Eritrea. The tenements cover ground that is highly prospective for volcanogenic massive sulphide (VMS) mineralisation and structurally controlled gold mineralisation in a geological setting similar to the Bisha gold-base metal deposit located some 174 km to the south that contains 1.6 Moz Au and 0.45 Mt Cu. The structural setting of the area covered by the Licences is also similar to that found at the 0.84 Moz Zara gold project located some 65 km to the south.
The Company holds a 40% free-carried interest in the Heemskirk Tin Project in Tasmania containing 4.4Mt at 1.1% Sn. The Company’s JV partner Stellar Resources Ltd is presently undertaking a drilling programme to upgrade and expand the tin resource.