Gladstone Pac Share Discussion Threads

[pbracken] 16/11/2005 12:56

Why is it tanking? Can't discover the mkt cap of this company (don't trust advfn). If it raised £11m at float, how can it have 90odd pence per share in cash (assuming 30m shares in issue)?

No position as yet.

[plain vanilla] 16/11/2005 10:41

Some good grades encountered...

Drilling results

RNS Number:1884U
Gladstone Pacific Nickel Limited
16 November 2005


16th November 2005

GLADSTONE PACIFIC NICKEL LIMITED

DRILLING UPDATE

The RC drilling programme has progressed to more than 23,000 metres of the
planned 27,000 metres for 2005. The Definitive Feasibility Study requires the
drill programme to provide infill information on known deposits and to
investigate extensions and potential new deposits.

The infill drilling programme on Slopeaway extension and an initial programme on
Magpie West are complete. Analytical results are awaited.

An update on the latest analytical results received, from the Coorumburra area
adjacent to known resources, is summarised below. Of the 214 drill holes com
pleted in the Coorumburra area, results for 82 have been received to date.
Previously 11 of the most significant drill holes were reported. Of the further
significant 22 drill holes reported here, 10 have intersections of 10m or more
accompanied by Nickel grades generally of above 1% and numerous Cobalt grades in
excess of 0.1%. These results are very encouraging and subject to further
evaluation, may indicate the presence of higher grade additional resources.

Please note that drill holes are not sequentially drilled and that adjacent
drill hole numbers do not imply that the drill holes were drilled in proximity
to each other.

Drill Hole From To Thickness Ni% Co%
(m) (m) (m)
COR003 14 19 5 0.75 0.13
COR010 3 6 3 0.81 0.16
COR011 27 34 7 0.84 0.06
COR013 17 23 6 1.09 0.15
COR024 27 42 15 1.00 0.16
COR025 20 35 15 0.94 0.08
Inc 20 30 10 1.05 0.10
COR034 18 23 5 0.91 0.13
COR035 32 53 21 1.07 0.05
COR036 24 34 10 1.12 0.13
COR083 21 29 8 0.74 0.05
COR071 19 23 4 0.90 0.21
COR065 26 48 22 0.70 0.04
Inc 26 32 6 0.73 0.10
C0R062 35 43 8 0.74 0.12
COR033 40 64 24 0.91 0.06
Inc 40 48 8 1.10 0.12
COR056 37 45 8 1.07 0.03
COR059 41 54 13 1.08 0.02
COR061 34 69 35 0.98 0.14
COR063 27 51 24 1.19 0.07
Inc 27 35 8 1.64 0.17
COR064 21 42 21 0.95 0.03
COR082 12 27 15 0.81 0.05
COR085 28 36 8 0.92 0.05
COR087 16 24 8 0.91 0.04

Robert Pearce, Chairman of Gladstone, commented:

"These drill holes provide the Company continuing evidence of higher than
expected grades and thicknesses at Coorumburra. Combined with the results
already reported at Slopeaway and at Gumigil East, they indicate that the
drilling programme is more than meeting its objectives in defining the orebody
further and confirming and exceeding the drilling results from the previous
owners of the property."

[plain vanilla] 08/10/2005 15:45

madaaboutmoney. lol, you're not the only one. You should look at SOU and TMC too. Gavin likes SOU enormously.
GPN should follow AEN soon imo.
Very shrewd cookies Philip and crew , the best in the business ;-)

[madaboutmoney] 08/10/2005 15:24

PV; I was advised by a broker to buy Gladstone on the secondary market from inception and was thoroughly vexed with him until I read the latest announcement. I guess I was taking too much of a short-term view as I had made so much from AEN within 6 months of investment. In an indirect way it was intimated that this could be the next AEN. I know some of the Rab crew and I hope it won't be long before their shrewd stock picking gets regurgitated by the press. In fact most of the speculative side of my portfolio comprises of Rab stocks.

[plain vanilla] 06/10/2005 11:46

Anybody about, progress is slowly being made, the resource here reminds me of the early days of AEN with its billion $ resource. No wonder Rab have this as one of their top 5 holdings...


Queensland to fast-track $1.3b nickel plant
Malcolm Cole, state political correspondent
06oct05
A PROPOSED $1.3 billion nickel refinery in central Queensland has been declared another "significant project" by the State Government, placing it on the planning and approval fast track.


The declaration by the state's Coordinator-General, Ross Rolfe, over stage one of the Gladstone Pacific Nickel refinery at Yarwun comes even though the project is yet to pass an initial feasibility project.

Premier Peter Beattie said the declaration, coming on top of this week's fast-tracking of a Gladstone coal port expansion, showed the recently-appointed Mr Rolfe was achieving his goal of "breaking through blockages, identifying opportunities and facilitating development".

Mr Beattie said Gladstone Pacific's nickel and cobalt resource in Marlborough, near Rockhampton, was estimated at more than 100 million tonnes and was expected to last for 25 years.

"The declaration opens the way for the company to begin an environmental impact statement for the refinery and associated pipelines and present it to my Government for consideration by October 2006," Mr Beattie said.

"Development of the mine and construction of stage one of the . . . refinery has the potential to create 700 direct jobs during construction and 350 direct jobs when it is fully operational."

Gladstone Pacific Nickel is unlisted in Australia, and has turned to the London Stock Exchange's Alternative Investment Market to raise $15 million to fund its feasibility study.

Its managing director, Peter Matheson, once ran Alan Bond's Yabulu nickel refinery and was the architect of an aborted Calliope Metals Corp plan to build a $500 million nickel and cobalt refinery in Gladstone in the mid-1990s, to process imported ores from New Caledonia.

[drbeat] 18/4/2005 09:50

20p only 98p away

[drbeat] 18/4/2005 08:19

20p i feel is all this dingo is worth



anyone remember wjat the catchphrase was?

[mibb] 05/4/2005 22:17

All very nice that GPN have their dosh, would be nice of them to say hello, or introduce themselves to the market........ mibb.

[mibb] 04/4/2005 13:32

I wonder when the company might speak.......? Mibb.

[dunnie] 28/3/2005 12:21

Gartshore,
RAB are very keen on this stock and believe it is another Asia Energy,Asia Energy floated at 75p but is now trading at £8.
Regards

[vicotumeric] 27/3/2005 12:49

800p by dec

[gartshore] 27/3/2005 12:22

i am very keen on nikel stocks particularly tmc which i hold this one is new to me but rab taking a big stake must make it a play, can anyone predict a timescale and a future share price target

[dunnie] 26/3/2005 10:04

Feature Story
Date: March 22, 2005

Gladstone Pacific Has A Vision- And Its Initial Financing Is In The Bag.

By Robert Wallace

First, just a reminder to potential investors that companies which adopt a negative attitude towards an information policy at the outset of life as a public listed company often find that it is convenient to maintain that policy. In the case of Gladstone Pacific Nickel, a company which took a primary listing on AIM last week, it has neither a website, nor has it made any releases on the London Stock Exchange's Regulatory News Service. This is odd and it leads to the unworthy suspicion that it really should have listed on the ASX and there is some deep, dark secret why it didn't. Our London Correspondent, a man with a healthy cynicism in such matters, suggests that there was a dark rumour circulating at PDAC that it represented the return of one of Australia's infamous HPAL (high pressure acid leach) nickel projects, similar to those that chewed up a vast amount of other people's money in the late 1990's. Rumours are always rife when companies are less than forthcoming.

Its main project is 175 kms north west of Gladstone which is a deep water harbour on the Queensland coast. Key to the importance of the town's proximity is the fact that in 1993 the Queensland State Government set aside a 21,000 hectare site to the north of the city to accommodate large industrial developments and that site is now home to the largest aluminium smelter in the world, two alumina refineries, a chemical complex and a major coal export terminal. And it is here that a high-pressure acid leach (HPAL) nickel treatment plant and a refinery will be sited. Spot on for the PDAC rumour machine.

The Marlborough laterite nickel deposits owned by Gladstone Pacific have current JORC reserves of 72.4 million tonnes, grading 0.82% nickel and 0.06% cobalt and contain 1.3 billion pounds of nickel and 88.6 million pounds of cobalt. There are also substantial further inferred resources. Gladstone Pacific Nickel acquired the mining leases to over 7,500 hectares there in December 2003. Low-cost shallow open-cast mining and an ore beneficiation plant will be developed at Marlborough and the ore will be pumped to Gladstone via a slurry pipeline.

Nickel is a metal in demand, with record consumption in 2004 driven by the world's burgeoning need for stainless steels. The projected incremental requirement is for some 60,000 tonnes a year at least until 2010. However, in 1995 62 per cent of the world's primary nickel production was derived from sulphide ores; by 2004 this had dropped to 53 per cent and the majority of the increases in supply will need to come from laterite ores. European Nickel is making great advances in treating such ores in Europe, but they have a number of metallurgical advantages which are being exploited such as reduced clay content which make heap leaching an option rather that a US$1 billion HPAL plant..

Laterite nickel processed by HPAL has certainly proved a headache for Australian miners. The Murrin and Cawse mines in Western Australia both ran into production difficulties but have now overcome them, albeit at a reduced output in the case of Murrin. Bulong, also in WA, was closed in 2003 and is being converted to treat sulphide ores. Yet the HPAL technique is now accepted as technically robust and the majors INCO and BHP Billiton are constructing substantial new HPAL plants at Goro in New Caledonia and Ravensthorpe in WA respectively.

The original concept for Marlborough was developed in the 90s by ASX-listed Preston as a stand-alone mine and processing plant, at a cost of over A$30 million. It was shelved largely due to the problems arising in WA and the project went into effective liquidation whereupon Gladstone acquired it. It was Gladstone's founders, Robert Pearce and Peter Matheson, both of whom have previously held top positions in the Australian nickel industry, who saw the opportunity to separate out mining at Marlborough and processing at Gladstone.

Yet even then the economics were not optimised; the planned fourth generation HPAL plant with two autoclaves would not provide the best returns on just processing the production from Marlborough. Pearce and Matheson conceived that if the plant could treat further ores, its economics would be transformed. Hence Stages 2 and 3 of the business plan for the project also include processing, with eventually up to eight autoclaves, ore from throughout the south-west Pacific region, which contains 64 per cent of the world's known laterite nickel reserves. 150,000-tonne Capesize bulk ore carriers will carry ore at low cost from newly constructed load points in New Caledonia and Indonesia to a new deep-water wharf being constructed at Wiggins Island, only 4kms from the company's proposed HPAL facility at Gladstone.

Having obtained £11million of funding from the AIM float, Gladstone's first step will be to complete a definitive feasibility study for Stage 1 of its plan at a cost of £3.5million and carry out a preliminary study for Stages 2 and 3. It will also need to obtain permits for the ore beneficiation plant at Marlborough and the pipeline route and secure title to the land at the proposed treatment and tailings plant at Gladstone.

After completing the studies, the company will seek a buyer or joint venture partner(s) for the project. On offer could be a potentially world class operation, close to markets in SE Asia, which is claimed to be sustainable for over 50 years. The company estimates that by 2016 the project could be producing 273 million pounds of nickel and 21 million pounds of cobalt a year at a cash operating cost of US$0.80 a pound after cobalt credits. That is quite a long time to wait and mighty clever of them to be able to forecast operating costs that far ahead. Step by step seems to be the answer and the first step is this feasibility study

[dunnie] 22/3/2005 20:21

Karate,
i am not comparing how much coal against how much nickel,why i believe it is another Asia Energy story is the way RAB Capital are bringing such companies to the market.RAB are floating very high calibre companies on the market in a very cute way,they are issuing very few shares in these companies which allows the price to be squeezed up on any small amount of buying,they then insist that the companies constantly update the market on any progress which keeps the momentum up.There is nothing worst than to many shares in issue, and then no amount of good news moves the price and investors get fed up and lose interest.By the way Gladstone has got off to a much better stasrt than AEN which initially fell from it's placing price of 75pto languish around the 60p mark before they started bringing out newsflow.
Regards

[karateboy] 22/3/2005 19:51

dunnIe

when AEN came to market there was no high flyers such as AEN!..GPN is usuing the high fylers such as AEN now to support its share price AT the time when AEN came to market had 320mt of coal and NAV/NPV of more than $2b. What is the GPN NAV/NPV at the moment? However I believe GPN will be a good share but no way at the moment can be compared to AEN.

Regards

[dunnie] 22/3/2005 11:39

Mibb,
look at the rest of the market it's taking a pasting so far GPN is holding up,with RAB Capital involved you will soon get strong newsflow coming through and the price will climb.Asia Energy started off quite slow even falling below the issue price of 75p to 60p,then RAB helped implement some changes insisting they changed advisors and they started issuing regular announcements and the climb began.
Regards

[mibb] 22/3/2005 10:01

Believe it when I see it dunnIE. mibb.

[jdhurry] 21/3/2005 12:14

How come there's nothing under news? Expected at least a 'Placing and Admission' RNS. Can someone post link?

[dunnie] 21/3/2005 09:38

This share has had a nice solid start and will start climbing soon,you will see some positive newsflow before the end of the week.

[karateboy] 19/3/2005 08:31

I have no holding in GPN at the moment. Can somebody who read the prospectus tell us ...what the proven GPN assets and NAV/NPV are ?,... Thanks

[dunnie] 18/3/2005 16:04

Got them and they're trying for another 25,000.

[dunnie] 18/3/2005 15:29

Just trying to buy another 25,000 before the close.

[beaufort1] 18/3/2005 12:34

2kpromoe ->
Could you kindly email me a copy of the GPN prospectus [e-mail].

Many thanks
B1