Gippsland Share Discussion Threads

[marksnsparkle] 28/8/2009 11:55

chipperfrd ... no problem, glad to be of help and it was actually your original post that tipped me off

robjm66 the peoples champion and prolific poster of links seems to have missed this useful stuff :-)

[chipperfrd] 28/8/2009 11:48

mark,

As usual you have been most helpful to this board - thank you for the Prospectus.

[chipperfrd] 28/8/2009 11:47

Interesting that GIP appears to be taking advantage of the Euro 2.5m 'loophole' that was recently used by AFE for a rights issue. AFE apparently saved a significant amount of expense by exploiting a little-known Brussels ruling that allowed them to proceed without involving the usual large kick-backs to the financial community in the city.
Chip

[marksnsparkle] 28/8/2009 11:17

I think I am going to pass on the rights issue, I noticed this in the prospectus ...

GIP have effectively defaulted on the offtake agreement with HC because GIP did not meet various agreed milestones, so in essence they don't have a offtake agreement with HC and need to negotiate a new one

Also KfW's mandate as lead arranger for the financing terminates on the 31st December 2009

See the pages numbered 20 and 21 on the prospectus for details

Basically the conclusion I have drawn is the reason GIP don't have the financing from KfW is because they don't have an offtake agreement to sell the tantalum ... and basically GIP have until end December to negotiate one if they want the finacing from KfW

However on a positive note it could also mean that it is GIPs intention to secure a new offtake agreement and the financing by the end of December ... but that's not a risk I am prepared to take

My prompt to buy more shares would be when GIP announce they have a new offtake agreement ... I will have to pay a higher price for those shares but the risk will be a lot less

[marksnsparkle] 28/8/2009 10:55

Bottom of page 10 (numbered 9) and top of page 11 (number 10) also has some more info for UK investors

[marksnsparkle] 28/8/2009 10:52

Here is the prospectus for the rights issue page 6 (numbered page 5) has some brief instructions on what you need to do ...


The offer closes on 28th September 2009

Joan of Arc ... in theory you should get a prospectus in the post including instructions on how to take part ... however in practice I would contact your broker(s) and get them to help you get the process moving asap as you only have 1 month

[joan of arc] 28/8/2009 10:25

These due diligence costs seem to go on forever without any result! That said I fully intend to take up my rights issue.

A couple of questions for MS who seems to be well informed on process. I guess us 'Issue Sponsored' holders in the UK will receive some notification of the offer through the post - do you think so too? When it comes to paying would we have to find some way of effecting an AUS$ money transaction to some bank with some reference being quoted? I don't know how many of you are in the same situation but it might be worth us firing off a request to JT to explain in detail how we poor UK cousins (and those like me who also hold GIP in a SIP - excuse the pun) should go about it - especially as the delisting last time caused such consternation for us.

[chipperfrd] 28/8/2009 10:22

mark,

Sounds like we have a real topic of direct interest to discuss over the next few days/weeks!

My 'gut' feeling is to stick with it and my earnings model still predicts a decent return, although I probably need to re-test a load of my assumptions before committing even more to this project.

Suggest we need to do a bit of mulling over.
Chip

[marksnsparkle] 28/8/2009 10:04

chipperfrd ... I'm considering taking part, but my thoughts are ...

1) Are they just raising money to button down the hatches for another year in the confident hope that the economy has improved by then and they will get the financing

or

2) Are they raising money to genuinely progress the due dilligence and secure the financing in say 3-6 months time

I suppose what I am saying is ... is Ian Gandel Confident because he knows something we don't or is his confidence misplaced

[chipperfrd] 28/8/2009 09:57

Thanks Mark, I had missed that one!

I will have to have a close look at this situation and see if I want to take the 'rights' option. Pity they did not do something like this 18 months ago - I did ask JT to consider it !!

[marksnsparkle] 28/8/2009 09:35

chipperfrd ... It would seem that Gandel's motivation to convert his loan was so that he could take part in the rights issue that has just been announced ...


Anybody here going to take part in the rights issue, you can buy 2 shares for every 7 shares you already hold and the price you get them at is 3.2 cents (1.65p)

Either you buy the shares allotted to you or you get diluted a bit more

I calculate after the rights issue we will be up to 540M shares in issue

Gandel has underwritten the rights issue and has also indicated he will be buy all the shares allotted to time ... which is very encouraging as he should know how well placed GIP is to succeed and obviously thinks it worth buying more shares

[shadowchaser] 28/8/2009 09:09

To Rob ,Chip and Mark ---I for one should be grateful for all your contributions to this board with even the most tenuous connections to GIP.

Please keep them coming ----MORE from you ,Chip and Mark ,especially,

NOT less from Robin !

Although I have ceased any further contributions pro-tem ,I still retain a large stake in this firm and am, as I'm sure you are all aware ,
a supporter of the project from way back,and still read all the comments.

Regards to all

-SC

[chipperfrd] 28/8/2009 07:55

I see Gandel has converted his loan to 80m shares.
I actually feel this is a positive as he could well have left it right up to the deadline next spring. So he appears to be fully committed to the company.
I assume that now that his loan is converted there will cease to be interest (10%) payable!
Chip

[robjm66] 28/8/2009 01:47

Rapinvest will post any thing that is more directly about Gip not a lot to post though at the moment. All we can figure out is they have hit some kind of delay. What the delay could be would be pure guess work.

if you use this link you can find out Quickly what is in the public domain about Gippsland.

You could also try the gip thread but no one seems to be any the wiser there than here about what is going on.

You may have a point about too much information however so i could move the majority of information i post onto a new thread. Guess could move all the tin information and "dirty" tantalum posts there as people seem to be not interested in them.

Could also move Gandel information there as people should have a general idea about him by now and anything more will be shown by how successful he is with Gippsland.

As for the rest of the information if anyone wants anything else moved speak up. Maybe i could make this new thread information only to save splitting debate as i do not want to end up arguing on anymore threads!

Robert

[robjm66] 28/8/2009 01:34

Hello Joan of Arc usually just copy the link onto my office document or straight onto my post. Use open office and firefox so i do not know if it is different for you. Mind your link seems to work fine for me.

Would say the German economy is in a lot better shape than ours which can be seen by the exchange rate.

Do keep a bit of a eye on Germany this from wallstreet online.

Robert

Industry fears raw material shortages
von Andreas Rinke

The industrial country, Germany could continue to be deprived of its foundation - namely, access to important metals and other raw materials. The economy calls for a response to China's global shopping trip, but rejects "from strategic stocks" such as on oil.

BERLIN. st Before the shortage of raw materials, the Bundesverband der Deutschen Industrie (BDI) has warned that the calls by the German government for greater support. Vorsitzender des BDI-Ausschusses Rohstoffpolitik. For growing trade and distortions in world commodity markets took the reference of important raw materials more difficult and vulnerable "thousands of jobs," warned Ulrich Grillo, President of the BDI Committee commodity policy.

By the end of last year, the institute also warned of the German Economy (IW) that the supply of metals such as chromium, platinum, niobium, molybdenum, zirconium and tantalum "very critical" was.


Gruß Fritz

[rapinvest] 27/8/2009 16:23

My holding is in my bottom drawer and I have mentally written them off. Ocasionally I come back to this board to see if anything meaningful has, or is about to, happen so that I can either relegate them to the garbage can or start getting excited about a rescue.
Unfortunately due entirely to Roberts "post anything however remotely related to tantalum, tin, unethical trading etc etc disease", one has to trawl through endless posts, articles and other wordy treatises that tell me absolutely nothing about the travails of Gip.
If there is a need for this constant bombardment of marginally(and I am being kind) relevant material, then PLEASE set up your own bb and people can resort to it if they wish.
I have no doubt that you have the best of intentions Robert ( although, as I have commented before, you have, bizarrely, characterized yourself as a sort of fall guy for all that ails us). Nonetheless, please have pity on those of us who wish only to read about Gip specific news and opinion.
Thanks in anticipation.

[marksnsparkle] 27/8/2009 16:01

GIP's possible lender KFW gets a mention in the article ...

"Among likely measures are use of the state-bank KFW to make "global loans" to industry on terms that pass on the full benefit of lower interest rates"

[joan of arc] 27/8/2009 15:53

Read this and then ask yourself how far back down the queue will GIP be if/when they start handing out loans again.




Robj - how do you cut and paste the actual URL in so that you can just click on it?

[robjm66] 27/8/2009 12:23

Tin news





China metal import boom continues Release date: 26 Aug 2009
Customs figures released on Monday showed a continuing boom in China's metal imports, indicating the strength of the country's bounce-back from global recessionary conditions. July imports of refined tin were 2,114 tonnes, 125% higher than in July 2008. Imports of other LME metals increased year-on-year by rates ranging from 78% for zinc to 1,044% for aluminium.

Tin imports in the first seven months of this year rose 105% year-on-year to 16,585 tonnes. This was the smallest reported rise of all the LME traded non-ferrous metals.




"The present study deals with the geochemical dispersion aureole of Nb and TA ore elements as well as their associated trace elements in the secondary arid environment prevailing in the central Eastern Desert of Egypt" Covers Abu Dabbab all of the Gippsland information is missing maybe because the article could be a several years out of date. Maybe Gip could help update it?

A lot of the photo's seem to be missing including when i view it pages 29 to 31 unfortunately.



Robert

[robjm66] 26/8/2009 16:16

Thats ok Marksnsparkle did not think you meant that Gip was a dead duck just annoying that we seem to be facing a delay.

[marksnsparkle] 26/8/2009 12:18

just to clarify by dead duck, I don't mean GIP won't get the financing as I personally think they will ... I just mean the GIP's share price is going nowhere until they do

[marksnsparkle] 25/8/2009 14:05

robjm66 ... the company/project is a dead duck until they get the financing, so there is nothing to market

My point is I want them to tell me about how the financing is going not Egypt

[robjm66] 25/8/2009 14:02

A poster posted up on hotcopper first suspect they lifted it from there.

I had suggested if they were really short of money they could always get research from hotcopper maybe they read that and thought it would be a good idea and decided to send this bit out!

Would have been more helpful if they had information about why the mining law had been held up there or whether the IFC was going to work hand in glove with Gip in the future in Egypt.

Mind you at least they are trying to do marketing and PR guess they are just not very good at it and i doubt they have the money to blow on it like commerce.

Robert