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Message: Re-rating of Gippsland share price target

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Re-rating of Gippsland share price target

posted on Mar 12, 09 01:32PM


Abu Dabbab Tantalum-Tin project - Re-rating of Gippsland share price target

Saturday, June 14, 2008

Please find attached a copy of Gippsland's ASX & AIM announcement relating to the use of raw seawater for the Abu Dabbab process plant and the move of the plantsite to within 1km of the open pit mine. The Directors estimate that these changes will result in annual operating cost saving of approximately US$5 million per year over the likely mine life of 20 years.

As a consequence of the above, London based broker Fox-Davies Capital issued the attached note which maintains a BUY recommendation while increasing the Gippsland share target price from UK29p to UK31p (or approx A$0.64 per share).

Gippsland Directors look forward to providing further news about the Abu Dabbab project as it develops into a major supplier to the global tantalum industry.

Kind regards
Jack Telford
Executive Chairman
Gippsland Limited
www.gippslandltd.com
jtelford@gippslandltd.com

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