RNS Number:5424V
Gippsland Limited
26 April 2007

2007-04-26

Gippsland Limited ("Gippsland" or the "Company")

NEW SHARE PLACEMENT

Gippsland (ASX & AIM: "GIP") today announces the placing of 26,666,666 fully
paid ordinary shares to UK institutional investors at a price of 4.5 pence
(approximately 10.82 Australian cents) per share raising the sum of UK#1,200,000
(approximately A$2.89 million) before costs. The placing was undertaken by UK
broker HB-Corporate.

These shares will rank pari passu with all existing Gippsland fully paid
ordinary shares. Application has been made for the admission of the new shares
for trading on the London Stock Exchange AIM and the Australian Stock Exchange
with trading expected to commence on 1 May 2007. The total number of shares on
issue following admission will be 259,524,592.

The funds raised under this placing will be employed to accelerate exploration
of the Company's Wadi Allaqi tenements where several highly prospective gold,
copper and nickel projects are being pursued.

In addition to on-going working capital, the funds raised will also be used to
expand Gippsland's management team both in Australia and Egypt plus the
commencement of Abu Dabbab detailed engineering design as this project
progresses into a world scale tantalum producer.

RJ (Jack) Telford
Executive Chairman

For further information please contact:

Jack Telford
Gippsland Limited
www.gippslandltd.com
Tel: +61 (0)8 9340 6000
jtelford@gippslandltd.com

Les Polden / Luke Cairns
Hoodless Brennan Plc
Tel: +44 (0)20 7538 1166
L.Polden@HBcorporate.com
L.Cairns@HBcorporate.com

Laurence Read / Ed Portman
Conduit PR
Tel: +44 (0)20 7429 6605 / 6607
Laurence@conduitpr.com
Ed@conduitpr.com

Fiona Owen
Grant Thornton Corporate Finance
Tel: +44 (0)20 7383 5100
Fiona.Owen@gtuk.com



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

END
IOEBIGDSGUDGGRU
Gippsland (LSE:GIP)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Gippsland Charts.
Gippsland (LSE:GIP)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Gippsland Charts.