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article in the age newspaper

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    http://www.theage.com.au/articles/2003/09/22/1064082929320.html




    Home > Business > News > Article
    Gippsland gains licence for Egyptian resource
    September 23, 2003

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    Gippsland's 50 per cent owned Tantalum Egypt joint venture has had its resource reserves tripled with the granting of a licence to explore the mothballed Nuweibi tantalum deposit.

    The Perth-based junior miner said yesterday the licence would increased the venture's resource base to 122 million.

    The Nuweibi deposit, 15 kilometres from Tantalum Egypt's 40 million tonne Abu Dabbab project, was first discovered in the '70s. The project was interrupted due to low tantalum prices.

    Gippsland called a trading halt on September 18 before releasing details of the new permit to the Australian Stock Exchange yesterday.

    The halt was lifted yesterday and Gippsland shares closed ahead 2.5¢ at 8.5¢ - a 42 per cent gain. Gippsland chairman Robert Telford said the permit gave Tantalum Egypt the sole right to convert to a mining licence during its four-year life.

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