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GPN Gladstone Pac

14.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gladstone Pac LSE:GPN London Ordinary Share AU0000XINAC5 ORD SHS NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 14.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 14.50 GBX

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Date Time Title Posts
12/7/201107:02Gladstone P Ni= 10% of world Ni supply capability?260
14/5/200619:13Gladstone Pacific Nikel - A potential monster play in Oz122

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Posted at 09/2/2010 14:40 by jackandflash
So what do you think of this news? Palmer buy out at very low price.
Posted at 15/10/2009 14:08 by ceckyspunt
i need to keep away from shares i dont know about...

i have an interest in another Ni play called AFE, who are years ahead of GPN, but they never have liquidity problems, and actually most shares dont... just these muppets!
Posted at 15/10/2009 13:06 by spectoacc
Cecky, bad luck - tiny NMS allows RSPs to bend you over on stocks like GPN.

Long term, GPN will come good IMO - though long term we're all dead of course.. Whatever you do, don't "route to dealer" when it comes to selling again.
Posted at 15/10/2009 12:58 by ceckyspunt
i cant understand how TDW can get away with charging DOUBLE their indicated price...

wtf am i going to do now?

should i bail out (some), or hold?
Posted at 15/10/2009 12:56 by spectoacc
Read my many posts over ages on this thread; currently flat, the MMs are particular mfs on GPN.
Posted at 15/10/2009 12:47 by r3covery
currently capped at 22mill. what price estimation has anyone got. was at £1.40 18 months ago now with an MOU for this new project.
Posted at 15/10/2009 12:24 by spectoacc
Great news from GPN, though sold all my holding on the rise. Will buy back in when it drifts back again on no news.

This is the biggest hidden gem on AIM IMO, look at the longer chart compared to every other smallcap miner. (Eg TMC, another Nickel play). But I can't deny they're probably still a number of years away from the sort of newsflow that'll take them back into the £'s.

Good luck holders - I'll be back..
Posted at 15/10/2009 11:51 by safman
TIDMGPN

RNS Number : 8448A
Gladstone Pacific Nickel Limited
15 October 2009

?
15th October 2009


GLADSTONE PACIFIC NICKEL LTD
ACN: 104 261 887
("GPNL" or "the Company")


GPNL Signs MOU for a Feasibility Study on the Development of a Heap Leach
Project at Marlborough
Gladstone Pacific Nickel Ltd announces the Company has today executed a
Memorandum of Understanding ("MOU") for the development of a heap leach project
at Marlborough ("MHLP" or the "Project") with China Tianchen Engineering Corp
("TCC"). The MOU is subject to a number of conditions including the
satisfactory conclusion of a feasibility study, entering into an engineering
procurement and construction contract with TCC, the identification of an equity
partner and an offtake partner for the Project.
The Marlborough ore resource, which is 100% owned by GPNL, has a JORC compliant
resource of 71 million tonnes of laterite nickel ore at 0.91% nickel and 0.06%
cobalt. The resource is based on only five of the thirteen deposits on the
Marlborough tenements. The Company believes that there is sufficient ore
resource at Marlborough for it to supply 100% of the feed for a standalone heap
leach operation in addition to providing partial feed to the Company's proposed
high pressure acid leach plant at Gladstone.
The development of the MHLP would establish the Company as a nickel producer.
The Directors believe that the Project has the potential to provide up to 24,600
tonnes/annum of contained nickel and 1,700 tonnes/annum of contained cobalt in
intermediate product. Initially the product is expected to be sold to nickel
refiners for further processing.
The Company has undertaken four column tests (150mm wide and 4 m high) on the
Marlborough ore. These tests indicate high extraction of between 75-88% Ni over
a relatively short period of 165 days with sulphuric acid consumption of 300-550
kg/tonne of ore, which compares favorably to other proposed heap leach projects.
Testing has shown extractions of up to 80% within 126 days with sulphuric acid
consumption of 261 kg/tonne from areas which are likely to be mined early in the
Project.
TCC, formerly known as China Tianchen Chemical Engineering Corporation, was
established in 1953 and is an engineering services company based in Tianjin,
China. TCC is well placed to provide support for the project due to their
involvement as the engineering, procurement and construction contractor for
European Nickel PLC's project in Çaldag, Turkey which is expected to be the
world's first commercial scale nickel laterite heap leach operation.
Mr Henderson, the Company's Chairman, said "We are very pleased to be working
with a company like TCC which is at the forefront of nickel heap leach
engineering. TCC has a worldwide reputation for supply of chemical plants with
particular expertise in building large scale acid plants as required for heap
leach operations."
Mr Henderson further added "The Company remains committed to the Gladstone
Nickel Project, but delays to the project due to the global financial crisis
have required the Company to pursue other value adding options. The heap leach
project at Marlborough has valuable synergies with the Gladstone Nickel Project
in that much of the infrastructure for the heap leach project could be utilised
by the Gladstone Nickel Project at very little additional capital cost".
Highlights of the MOU
* TCC has confirmed it is prepared to provide a commercial offer for the turn key
construction of the MHLP and will send its technical team to Australia to
undertake an infrastructure and site review with the view to agreeing the scope
of the Feasibility Study.
* TCC will be commissioned by GPNL to undertake the Engineering Study ("ES") to a
standard acceptable to Chinese banks and investors.
* TCC and GPNL will set up a special team to finalise the commercial terms of the
turn-key Engineering Procurement and Construction ("EPC") Agreement. The EPC
offered by TCC shall be commercially competitive and provide guarantees for the
construction price and process for the MHLP.
* TCC will assist with a targeted debt financing of 70% of the Project which is
expected to be provided through Chinese banks.
* TCC will work with GPNL to secure funding or to identify potential strategic
Chinese partners for the remaining equity funding required for the MHLP, and to
arrange an off take agreement for the sale of MHLP nickel intermediate to China.



ENDS

Enquiries:
James Henderson, Chairman - Gladstone Pacific Nickel Ltd Tel: +61 (0) 2 9252
8455
Gerry Beaney/Robert Beenstock - Grant Thornton Corporate FinanceTel: +44
207 383 5100
John Prior - Arbuthnot SecuritiesTel: +44 207 012 2000


Web: www.gladstonepacific.com.au
Email: info@gladstonepacific.com.au
Background
Gladstone Pacific Nickel Ltd
Gladstone Pacific Nickel Limited is a publicly-listed, Australian mining
development company, whose main aim is to establish a US$3.65 billion long-life,
nickel and cobalt refinery at the Gladstone State Development Area in Central
Queensland, Australia.
GPNL is planning to build the refinery at the deepwater Port of Gladstone,
treating high-grade nickel laterite ores from New Caledonia and other south-west
Pacific Islands, underpinned by beneficiated ores from its own Marlborough
deposits. The Project has the potential to be one of the largest of its type in
the world.
In addition, the Company is seeking to develop a heap leach project at its 100%
owned Marlborough deposits in Queensland, Australia.
Gladstone Pacific Nickel Ltd is listed on AIM in London, code: GPN.
China Tianchen Engineering Corp


China Tianchen Engineering Corp ("TCC") is a leading Chinese multidisciplinary
company, engaged in Engineering, Procurement and Construction activities. TCC
undertakes project planning, feasibility study, engineering design, equipment &
materials procurement, construction management and project supervision in the
fields of petrochemical, fine chemical, organic & inorganic chemical, coal
chemical, pharmaceutical and light & textile industries.


TCC has been continuously listed as one of the top 225 Global International
Contractors in American "Engineering News Records" (ENR).
TCC is currently undertaking 22 projects outside of China and clients include
Exxon Mobil, Sinopec, Shell, Dow, DuPont, GE, Procter & Gamble, Mitsubishi Heavy
Industries and many others.


This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this news release, other than
statements of historical facts, that address future exploration drilling,
exploration activities and events or developments that the Company expects, are
forward looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include metal prices, exploration success,
continued availability of capital and financing, and general economic, market or
business conditions.



This information is provided by RNS
The company news service from the London Stock Exchange
END

MSCUVOARKBRRAAA
Posted at 08/8/2008 13:18 by smiler 0
GLADSTONE PACIFIC NICKEL LTD

ACN (104 261 887)

('GPNL'' or 'the Company')




Resource Development International Limited to acquire
Gladstone Pacific Nickel Limited

RDI to acquire GPNL by scheme of arrangement for scrip consideration of £2.20 for each GPNL share, based on RDI's IPO share price.

The proposed acquisition is conditional on RDI listing on the HKSE or the ASX and raising a minimum of A$1 billion in cash.

Details of the timing of the proposed acquisition and the listing of RDI have yet to be determined, however, it is proposed that the acquisition and the listing would be completed by late 2008.

If the GPNL scheme is approved, GPNL will become a 100% owned subsidiary of RDI. The assets of GPNL would form part of RDI's asset base.



Scheme Implementation Agreement

Further to its announcement on 30 July 2008 regarding the receipt of a proposal for a merger, Gladstone Pacific Nickel Limited ('GPNL' or the 'Company') (AIM:GPN) announces that the non-associated Directors of the Board have unanimously approved the entry into a Scheme Implementation Agreement (SIA) with Resource Development International Limited ('RDI').

The SIA signed today, 8 August 2008, provides for GPNL to propose a scheme of arrangement (the GPNL Scheme) under which RDI will acquire all of the shares in GPNL for scrip consideration of £2.20 for each GPNL share based on RDI's IPO share price.

The value of GPNL shares on the AIM at market close, 7 August 2008 was £0.70.

In addition to GPNL Shareholder and Court approval, the GPNL Scheme will be dependent on certain conditions including:

1. approvals for RDI to list and have its shares quoted on the Hong Kong Stock Exchange ('HKSE') and/or Australian Securities Exchange ('ASX') being obtained on or before 31 March 2009 and a cash raising of at least US$1 billion; and

2. GPNL receiving a satisfactory independent expert's report.

RDI may terminate the SIA if GPNL decides to pursue a competing proposal. Either party may terminate the SIA if the GPNL Scheme is not effective before 31 March 2009.

It is expected that the GPNL Scheme will satisfy the requirements for scrip for scrip roll-over relief from Australian capital gains tax ('CGT') under Subdivision 124-M.

Following the GPNL Scheme, RDI will own 100% of GPNL.

The GPNL Scheme participants will include all GPNL shareholders in Australia and any other jurisdiction in which RDI shares may be issued without unduly onerous regulatory requirements. Other foreign shareholders will have their allocation of RDI shares sold as soon as practicable and the proceeds (less brokerage, duty, taxes, expenses and other charges) paid to them.

If required by the HKSE and/or the ASX to obtain approval to list, the provision of RDI shares to GPNL Shareholders will be conditional upon them first agreeing to any restrictions on the RDI Shares (and executing any required documents).

RDI must use its reasonable endeavours to investigate the possible establishment of a share sale facility by which GPNL Shareholders who would receive less than A$5,000 worth of RDI shares under the GPNL Scheme can elect to sell the RDI shares they receive as soon as practicable after the GPNL Scheme is effected, without brokerage being payable.

RDI must also make an offer to GPNL option holders for their GPNL options to be transferred or cancelled in consideration for either RDI options on equivalent terms or a cash amount based on the value of the consideration provided to GPNL shareholders and the terms of the options.

RDI

RDI is a company which has recently been formed to acquire substantial iron ore, nickel, exploration and energy interests, including rights to extract 20 billion tonnes of iron ore from the Balmoral tenements held by Mineralogy Pty Ltd. RDI has appointed Macquarie Bank and UBS to manage a proposed US$5 billion IPO and listing on the HKSE, which is being planned by RDI for late 2008.

RDI is currently controlled by Mr Clive Palmer. Mr Palmer holds 13.95% of the shares in GPNL.

Effect on EGM to be held on 14 August 2008

On 22 July 2008, GPNL gave notice of an Extraordinary General Meeting ('EGM') to be held on 14 August 2008.

Resolution 3 in the Notice of Meeting sent to shareholders on 22nd July 2008 was referred to in the announcement of the EGM as follows:




'Shareholder approval is being sought for the introduction of an alternative event to trigger Mr Palmer's entitlement to a 25% interest in Marlborough Nickel Pty Ltd ('MPNL'). This possible future event being the making of an unconditional takeover bid or the completion of a takeover via a scheme of arrangement, by Resource Development International Limited, a Company associated with Mr Palmer and Mr Martino, at a minimum price of £2.20.'




The proposed alternative milestone for Mr Palmer's company, Dasines Pty Ltd ('Dasines'), to convert its converting shares in Marlborough Nickel Pty Ltd ('MNPL') to ordinary shares is contained in Resolution 3 of the Notice of Meeting. The milestone, for a scheme of arrangement, has the following conditions:

Approval by a meeting of GPNL shareholders and by a court of competent jurisdiction under section 411(6) of the Corporations Act, of a scheme under which RDI will acquire all of the issued Shares in GPNL in which it does not already have a relevant interest in exchange for shares in RDI, at a value equal to or exceeding £2.20 per GPNL share (which will be calculated according to a formula which values the RDI shares at their cash issue price under its intended IPO prospectus, converted to UK pounds sterling at the then prevailing exchange rate); and

RDI raises at least US$1 billion in cash and RDI's shares are quoted on the Hong Kong Stock Exchange (or such other recognised stock exchange of a size and liquidity acceptable to GPNL); and

The scheme is approved by a court of competent jurisdiction on or before 31 December 2008 or, at the absolute discretion of GPNL, a date no later than 90 days after 31 December 2008.

If shareholders approve Resolution 3 and the GPNL Scheme meets all of the above conditions, Mr Palmer would be entitled to convert the convertible shares in MNPL held by Dasines into ordinary shares in MNPL. This would in turn result in the completion of the acquisition of Dasines by GPNL, subject to that transaction being approved by shareholders at the EGM by the approval of resolution 2. Full details of these transactions are contained in the Notice of Meeting and Explanatory Memorandum sent to shareholders.

The GPNL shares issued to Mr Palmer would then participate in the GPNL Scheme and be acquired by RDI, if the GPNL Scheme is approved.

Shareholders should consider this information when deciding how to vote on Resolution 3 and also refer to the information in section 3 of the Explanatory Memorandum. Shareholders should also note that, even though RDI has made this proposal, there is no certainty that the GPNL Scheme will be approved or that a control transaction will occur.

Review of GPNL Scheme

GPNL intends to appoint an Independent Expert to advise on whether the GPNL Scheme is in the best interests of all GPNL Shareholders. A copy of the Independent Expert's Report will be included in the GPNL Scheme Booklet which will be sent to shareholders before the meeting to approve the GPNL Scheme.

The SIA requires RDI to provide assistance to GPNL to carry out due diligence on RDI which GPNL will now commence.

The non-associated directors committee formed to review the SIA, comprising Mr John Downie, Mr Benjamin Hill and Mr James Henderson, have considered the advantages and disadvantages of the RDI proposal. In the absence of a superior proposal and subject to the results of the due diligence and Independent Expert's Report, the committee unanimously recommend that the GPNL shareholders vote in favour of the GPNL Scheme. Reasons for this include:




The offer under the GPNL Scheme provides a substantial premium over the market price of GPNL shares. The offer is 3.14 times the AIM closing price of GPNL shares on 7 August 2008.
The GPNL Scheme will remove the single asset risk and corporate structure which may have adversely impacted the share price of GPNL and its ability to grow and develop as a company.
The GPNL Scheme will provide GPNL shareholders with exposure to a broader portfolio of assets with upside potential from other projects of RDI. Shareholders will maintain their exposure to the Marlborough Nickel Project.
RDI will be more likely to offer increased diversity, scale and market liquidity.
Next steps

GPNL will now appoint an Independent Expert and commence preparation of the Scheme Booklet. GPNL will also conduct due diligence on RDI and include relevant information from that due diligence in the Scheme Booklet.

Once approved by the Court, the Scheme Booklet will be dispatched to GPNL shareholders.

The GPNL Scheme will then require the approval of GPNL Shareholders and the Court, together with satisfaction of other conditions customary for a transaction of this nature. These conditions are included in the SIA, a summary of which is attached as Annexure A to this announcement.

Cancellation of GPNL's listing on AIM

Should the implementation of the GPNL Scheme be successful, GPNL will become a 100% owned subsidiary of RDI and it is the intention of the board of RDI that they will cancel the admission of GPNL's securities to AIM on the GPNL Scheme implementation date, expected at this stage to be during December 2008.

Further information

This announcement is available on GPNL's website www.gladstonepacific.com.au.


Lets Hope GCM GET A MOVE ON KP !!
Posted at 30/7/2008 12:08 by spectoacc
SIGNIFICANT PROPOSAL RECEIVED

To enter into discussions regarding a merger

GPNL has received a proposal to enter into discussions regarding a merger with Resource Development International Ltd ("RDI"), an unlisted company controlled by GPNL's chairman, Clive Palmer (the "Proposal").

Under the Proposal, GPNL shareholders would exchange their shares in GPNL for shares in RDI valued at 2.20 per GPNL share, based on RDI's IPO share price. The Proposal envisages that the merger would be implemented by way of a scheme of arrangement under the Corporations Act which would, amongst other things, require GPNL shareholder approval.
Gladstone Pac share price data is direct from the London Stock Exchange

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