Loan conversion / Rights issue

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Development of the 44.5 million tonne Abu Dabbab and 98million tonne Nuweibi tantalum-tin projects plus exploration for gold, copper, nickel in Egypt abd Eritrea.

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Clavis

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Loan conversion / Rights issue

posted on Oct 02, 2009 06:07AM

Please see

www.gippslandltd.com

I am pleased to provide you with a copy of the attached announcement relating to the conversion of the loan facility provided by Abbotsleigh Pty Ltd and the subsequent announcement relating to a fully underwritten 2 for 7 renounceable rights issue.

Following an extremely challenging twelve months, this capital raising will now enable the Directors to focus on the Company's prime aim; to develop the JORC compliant 44.5 million tonne Abu Dabbab tantalum-tin project into the leading supplier of feedstock to the global tantalum industry

Kind regards

Jack Telford
Executive Director
Chief Executive Officer
www.gippslandltd.com
jtelford@gippslandltd.com

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