Issue of Equity

RNS Number:6460I
GVM Metals Ltd
28 November 2007





announcement
                                 28 NOVEMBER 2007
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                               GVM METALS LIMITED



                                ISSUE OF EQUITY



GVM Metals Limited ('GVM' or the 'Company') is pleased to announce that it has
today completed a placement of 15,000,000 shares ("Placement"). The shares were
issued at an issue price of $1.50 each, to raise $22,500,000, before costs.



The Placement was made under s708 of the Corporations Act to predominantly
sophisticated retail investor clients at Euroz Securities Limited.



The funds raised from the issues will be applied towards the cost of developing
the Company's Mooiplaats and Baobab coal projects, exploration and general
working capital.



The Placement follows approvals of a resolution at the Company's Annual General
Meeting in Perth today providing the required capacity for the Placement in
accordance with Listing Rule 7.1 and the announcement of the placement of 65
million shares at 65 pence primarily to European institutions to raise #42.25
million.



Simon Farrell, Managing Director, commented: "We are very pleased that following
the successful placement to London institutions, Euroz, Perth's leading
institutional broker, has lent its support to our goal of becoming a significant
coal producer in South Africa."



AUTHORISED BY:





Simon Farrell

Managing Director










For more information contact:
Simon Farrell, Managing Director  GVM                            [phone]
                                                                 [phone]
Romil Patel / Olly Cairns         Blue Oar Securities Plc    [phone]

Jos Simson/Arabella Hobbs         Conduit PR                 [phone]



www.gvm.com.au


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