Gippsland Ltd (GIP) – Project Update

Highlights

• Review of definitive feasibility study completed
• Capital expenditure of US$173 million
• Production of 55% tantalum synthetic concentrate (SynCon)
• Project finance progress
• Completion of independent technical review
• Lycopodium appointed as Engineering, Procurement & Construction Management (EPCM) contractor
• Environmental & Social Impact Assessment (ESIA) completed & submitted to project finance banks
• Port Turumbi application for feldspar export
• World scale resource base – 142.5 million tonnes

Jack Telford,  Executive Chairman of Gippsland said, “The production of this 55% SynCon at Abu Dabbab is a groundbreaking change for the industry as mining companies have traditionally produced a relatively low value, low grade, impure tantalum mineral concentrate. This significant change to the global tantalum supply chain results directly from the Board’s practical industrial experience and depth of knowledge in fields of chemistry, chemical engineering and metallurgy.”