Business Description

Gladstone Pacific Nickel Ltd. The Group's principal activity is exploring for and developing nickel and cobalt minerals. It operates only in the mineral evaluation business within Australia and south-west Pacific region.

Gladstone Pacific Nickel Limited (GPNL) is an Australian mining development company presently undertaking a Definitive Feasibility Study (DFS) for the Gladstone Nickel Project (GNP). The company's vision is to build a major long-life nickel cobalt refinery at the deepwater Port of Gladstone, in Central Queensland, Australia, treating abundant 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 producing some 126,000 tpa nickel (8 -10% of global nickel demand) and 10,400 tpa of cobalt metal from its first two stages.

The GNP will comprise of; a high pressure acid leach (HPAL) plant and metal refinery in the Yarwun Precinct of the Gladstone State Development Area (GSDA); nickel mines and loadout/shipping facilities in New Caledonia and potentially other south-west Pacific islands; ore importation facilities at the Port of Gladstone; a modern nickel mine and beneficiation plant at Marlborough with a proposed slurry pipeline to take the beneficiated ore to Gladstone; and a long-term residue storage facility located in the Aldoga Precinct of the GSDA.

KEY DATA:

Gladstone Pacific Nickel Ltd Ticker: GPN

GPN Directors/Managers :
Chairperson (Exec.): Mr RA Pearce (Robert)
Executive Director an d executive Chairman: Mr PJ Matheson (Peter)
Director (Non-Exec.): Mr AE Daley (Andrew)
Director (Non-Exec.): Mr JG Henderson (James)
Director (Non-Exec.): Mr PJ Watson (Peter)


Exchanges: LON
0 Sales: 0
Currency: Australian Dollars
Fiscal Year Ends: June
Share Type: Ordinary
Country: Australia
Major Industry: Metal Producers & Products Manufacturers
Sub Industry: Miscellaneous Metal Producers
Employees: 9
Market Capitalization: 143,348,407
Ordinary Shares in issue.41,909,716
Closely Held Shares: 9,575,000

16-03-2007 RAB Special Situations - 13,463,642 44.3700
11-04-2006 Andrew Daley - 1,250,000 5.9900


http://www.gladstonepacific.com.au/clientuploads/Presentations/GPNL_MajorProjectsConference_28Jul06.pdf

NEW project presentation!

http://www.gladstonepacific.com.au/clientuploads/Presentations/070326NewCalNiConfPresentation-English.pdf

http://www.gladstonepacific.com.au/index.php?src=


Useful Links

http://www.mineralprices.com/

http://www.lme.co.uk/nickel.asp

http://www.miningnews.net/

http://www.minesite.com/

1. Mine to use sea water to reduce environmental impact. 17 April 2007. Central Queensland News
Summary: ... 13: 44 AEST Mine to use sea water to reduce environmental impact The developer of a proposed nickel refinery in central Queensland says it has taken steps to reduce the environmental impact ... of the project. In its environmental impact statement, Gladstone Pacific Nickel Limited says it plans to build one of the world's largest refineries at Gladstone, using some nickel mined from Marlborough ... http://abc.net.au/news/australia/qld/capricornia/200704/s1899327.htm - 22k - [ html ] - Cached - 17 Apr 2007 Gladstone Pacific says environmental study positive on Queensland nickel project
LONDON (Thomson Financial) - Gladstone Pacific Nickel Ltd said an environmental impact study of its Queensland-based nickel project indicated no significant issues that would prevent construction going forward.

Of interest

Triple your money as nickel sends Minara Resources shares soaring
Vanessa Burrow
May 4, 2007

Back in Australia, nickel miner Minara Resources was the second-best performer among the top 200 stocks, rising 6.4 per cent, or 49, to $8.07.

In the past year Minara's value has more than tripled, outpacing all other companies in the S&P/ASX 200 as the price of nickel has soared to almost $US50,000 a tonne.

"The powerful profitability of the nickel stocks is attracting more and more serious money into them," said Far East Capital senior mining analyst Warwick Grigor.

Hello smiler o,
I have taken a quick look at this company and it looks a solid
long term hold,not sure when they will start producing though?
Three things,
1st
i would expect the SP to drift closer to the placement of 1.80p.
2nd
If they have successful launch on the TSX this will allow placing into an ISA
3rd
As i see their long term production some way into the future, the question of
the price of Nickel (which i expect to be well below todays) will have a major
effect upon the profitability of the company.

Still this seems a very safe long term punt,being in Australia.
cyril

Cyril,

Given that this company is listed on AIM, it's a tad disappointing to see the AGM so far away from it's shareholders!

-----
an Extraordinary General Meeting ("EGM") on Tuesday 29 May 2007, at 6.00pm (9.00am UK time) at Suite 9, Level 3, Christie Centre, 320 Adelaide Street, Brisbane, Australia, 4000.
-----

One wonders why they are choosing to list on the TSX, and ignoring their own ASX!

I've done some sums on this and the profit potential appears to be huge - assuming they borrow all of the cash they need to pay for manufacturing facilities and allowing for interest payments at 7% and corporate tax at 30%, at a nickel price of $48,000 per tonne, they could come out with a net profit equivalent to 240 million or more.

Oh, yes - just to make matters really interesting, I assumed a dilution of GPN's stake in the project to 40% as I assume they'll need JV partners to see it through and/or the Aussie government will take a stake.

That's not even including the cobalt, or the intended doubling of the nickel production to 126,000 tpa.

Current mkt cap is 61 mil. So assuming a PE of 10 on that future earnings, the co could one day be worth 2.4 billion on nickel production of just 60,000 tonnes.

PDYOR and don't take my word for it. Suffice it to say that I shall be watching this stock with interest this week in the light of how TMC has been doing.

Yes ST , One to watch for sure, I have been holding for a short time now, and toped up @ 200p and the good thing is The project has the 100% backing of the Australian govnt !

A staggered mill and processing output is planned for the project, with initial production of
30,000tpa Ni metal, followed by an expansion to 60,000tpa with an ultimate target of 120,000tpa,
based on imported ore as the market dictates. A Heads of Agreement with Socides Mines de la
Tontouta was signed in 2006 for the supply of 600,000 to 800,000 t of Ni and Co ore from New
Caledonia, and includes the right to participate in the development of a new mine that will
underwrite long-term offshore ore supply.
Gladstone Pacific Nickel has achieved several important milestones, including environmental
planning, indigenous land owner agreements, infrastructure planning progressing, and nickel/cobalt
metallurgical testing. However, the DFS is still underway and is not expected to be complete until
mid-2007, with capex expected to rise significantly from previous estimates. The companys stated
intent is to seek a JV partner or investor to take the project to construction and commissioning.
Summary
Gladstone Pacific Nickel is committed to the development of the Marlborough nickel laterite
project, and the adjacent facility comprising HPAL plant, smelter, storage facility and deep water
port. The intention is to bring the mine into production and with the addition imported ore from
the SW Pacific, build a facility capable of producing up to 120,000t of Ni metal a year some 8%-
10% of world production.
The Marlborough deposit comprises a number of discrete nickel laterite zones, with JORC
reserves of 71Mt @ 0.9% Ni.
Several important planning, pre-feasibility and trial metallurgical studies are complete. However,
there is a significant work still required. The next key milestone is publication of a DFS in mid-
2008. Production is unlikely to be before 2010.

Interesting News !!!!!!

Mincor nickel grab
May 15, 2007 12:00am

NICKEL producer Mincor Resources is poised to secure its fifth operating mine through the acquisition of a private company for $68.5 million.

Mincor will acquire private outfit Goldfields Mine Management, which holds the operating Otter Juan nickel mine and the historic Durkin and McMahon mines in the Kambalda region near Kalgoorlie.

The transaction replaces an agreement between the two parties in December, by which Mincor proposed to acquire only the Durkin and McMahon mines for $30 million.

Mincor managing director David Moore said the transaction would consolidate the company's position on the northern Kambalda Dome and provide immediate financial returns.

"We see the Otter Juan, McMahon and Durkin projects as forming a major new production and exploration centre for Mincor, putting within reach our target of 20,000 tonnes per annum of sustainable nickel metal production," he said.

Mincor said the close proximity of the Otter Juan, McMahon and Durkin mines would allow the three projects to run as a single operation.

Mincor operates four nickel mines in the Kambalda region and produces about 15,000 tonnes of nickel annually.



>>>>>>>>> Will GPN Be next ?
.
.

Smiler so do you think GPN is a good buy??

IMO yes, but its always best to DYOR , this share could go like TMC , the thing here is the Time scale and the price of Nickel ! And my Last Post !!! But keep an eye on it for sure, and if you like what you see Have a PUNT ! I HAVE :)

05/11/2007 11:45:15 AM EDT
DowJones

LONDON, May 11, 2007 (Dow Jones Commodities News via Comtex) --Global primary nickel demand is expected to rise by 20,000 metric tons during 2007 to 1.41 million tons from 1.39 million tons in 2006 due primarily to strong Chinese nickel demand, the International Nickel Study Group said Friday.

"World primary nickel usage was 1.25 million tons in 2005, which increased to 1.39 million tons in 2006, and is forecast at 1.41 million tons in 2007," said INSG.

At the same time, nickel demand in Europe is expected to decrease, but from very high levels in 2006, said the INSG.

(MORE TO FOLLOW) Dow Jones Newswires

05-11-07 1144ET

Nickel leaders slug it out

May 16, 2007 12:00am


THE battle for Australia's third-largest nickel miner LionOre is into the third set, with Xstrata lobbing a higher bid over the net after earlier being trumped by Norilsk Nickel.

After a trading halt yesterday, the LionOre board said it would support an increased offer of $C25 ($A27.17) a share from Xstrata, valuing the Canadian miner at $C6.4 billion.

The offer beats Norilsk Nickel's $C21.50 a share bid two weeks ago and is about 35 per cent higher than Xstrata's original $C18.50 a share bid.

It was tabled as LionOre revealed a massive jump in first-quarter earnings, spurred by the soaring price of nickel.

LionOre earned $US148.3 million ($A178.4 million) in the three months to March 31, compared with $US13.2 million the previous year.

The average nickel price realised by the company was $US18.80 a pound compared with $US6.72 a pound a year earlier.

LionOre owns the Emily Ann, Maggie Hays and Black Swan nickel mines in Western Australia and is developing the Waterloo nickel project there.

It also owns the Thunderbox gold mine and 80 per cent of the Honeymoon Well deposit, one of the world's largest undeveloped nickel deposits with an indicated resource of one million tonnes.

LionOre expects to produce about 44,000 tonnes of nickel this year and 80,000 tonnes by 2012.

Xstrata leapfrogged its rivals to become the world's fourth-largest nickel producer after its $US17 billion acquisition of Toronto-based Falconbridge last year, and would maintain that position if it was successful in its bid for LionOre.

Norilsk is the world's largest producer of the metal.

Charles Cooper, a London-based analyst for NCB Group, said he wouldn't be surprised to see Norilsk come back for another go.

"We expect nickel prices to remain high and the payback can be very quick," he said.

Victor Borodin, a spokesman for Norilsk in Moscow, declined to comment.

Xstrata has approval from the Australian Competition and Consumer Commission and the Foreign Investment Review Board to proceed with the takeover.

LionOre shares have risen 24 per cent on the Toronto Stock Exchange since Xstrata's original offer. They last traded at $C23.70.

The company has a secondary listing on the ASX where the stock traded at $21.10 before yesterday's trading halt. with BLOOMBERG

A tic up !!!!!

Nickel May Rise 20% on Smelter Shortage, Credit Suisse Says

By Madelene Pearson

May 21 (Bloomberg) -- The price for nickel, used to make stainless steel, may rise 20 percent as a shortage of smelters to process ore into metal constrains supply, Credit Suisse Group said in a report.

Nickel may reach $65,000 a metric ton in the ``near term,'' Credit Suisse London-based analysts led by Jeremy Gray and Eily Ong said in a report dated May 16. Smelting output may grow at 4.6 percent this year compared with demand growth as high as 5 percent should stainless steelmakers rebuild inventories and global economic growth increase, the report said.

Nickel for immediate delivery rose to a record $54,050 a metric ton in London on May 15 as China's economic growth fueled demand for the metal. Cost overruns and delays at BHP Billiton Ltd.'s Ravensthorpe and Cia. Vale do Rio Doce's Goro projects, the two largest nickel mines under construction, exacerbated supply shortfalls, helping drive price increases.

``Prices will remain strong over the next two years given the lack of supply growth until 2009 at the earliest,'' Gray and Ong wrote in the report. ``The current profile of new smelters is unlikely to be enough to feed ongoing strong demand from the stainless steel industry in the next two years.''

Nickel for immediate delivery rose $1,800, or 3.5 percent, to $54,025 a ton on May 18. Prices have jumped 155 percent in the past year as inventories plunged 78 percent to an amount equal to less than two days of global consumption.

Only three of 11 nickel mine and smelter projects under way, including Ravensthorpe and Goro, will start production before 2010, the analysts said.

Risk of Delay

``Any delay in the 2008 startup of Ravensthorpe and the 2009 startup of Goro will clearly make our global smelter growth forecasts of 4.6 percent in 2007 and 5.3 percent growth in 2008 look too aggressive and would help underpin the current strength in nickel prices,'' the report said.

The forecast by Credit Suisse compares to the $55,000 a ton estimate of Standard Bank analyst Michael Skinner made April 26.

Prices are expected to stay ``strong'' over the next two years given the lack of smelter supply growth until 2009, the report said. They may also gain should an anticipated increase in production of lower grade ferro nickel from China be overestimated, the analysts wrote.

``The strength in today's nickel price is a good lead indicator to suggest that the ramp up of Chinese production is clearly taking longer than expected to make an impact,'' they said. ``Our suspicion is that the ramp up of Chinese production will not make a significant dent in global supply until 2009 at the earliest.''

The bank is assuming demand growth of 3 percent this year, rising to 5 percent should stainless steelmakers build inventories in the third quarter. A ``pronounced'' cutback to stainless steel production may damp demand for nickel and threaten prices, Credit Suisse wrote.

Right, I'm building a nickel smelter in the garden shed! Anyone in?

Ni is definitely one to watch at present. TMC is doing me proud, although I'm kicking myself for taking my eye off the ball for so long.

Good luck to all.

Barry Sergeant
23 May 2007

Nickel has again given new meaning to "ten bagger", with a price increase from just over $2/pound late in 2001 to fresh recent records close to $25/pound. Against doomsayers, official stocks of the metal, used mainly in the production of stainless steel, is down to a day or less of global consumption.

Analysts and industry players, not least Dedi Aditya Sumanagara, president director of PT Aneka Tambang Tbk, reckon that the undersupply curve of nickel is such that prices will remain high for another 18 months.

Nickel currently trades around $50 000 a ton and more on the London Metals Exchange, compared to an average price over the past 12 months of $35 387 a ton, and "just" $24 185 in 2006. After years of sitting in the price doldrums, and an all-time nadir (like many other metals) in real price terms in the late 1990s, nickel exploration and projects were either neglected or taken only half seriously.

Based on current information, the biggest increases in nickel supplies are likely to come on stream in Australia and nearby New Caledonia. Eramet, via 60% subsidiary Socile Nickel, has largely operated alone for more than a century in New Caledonia, said to hold a quarter of the world's nickel.

Nickel operators are key acquisition targets; CVRD's recent $17,6bn acquisition of Canada-based Inco now looks like a bargain basement deal, and has pushed CVRD's market capitalisation into second place among the big diversified, miners, ahead of Rio Tinto and Anglo American, and behind BHP Billiton.

Inco delivered CVRD the Goro nickel mine and smelting plant in New Caledonia, where Inco had already spent at least $1bn in development. By now, the project is at least 80% complete, and due to start commissioning up to a nameplate of 60 000 tons a year in early 2009, at a capital cost north of $3bn.

BHP Billiton is meanwhile confident of this year starting up its 70 000 tons a year Ravensthorpe operation in Australia. Nickel is a tough business: there have been expected start-up delays and cost overruns at Goro, Raventhorpe, Vermelho and a number of other development projects.

Consolidation in the industry continues; Xstrata, having first bid $4bn in cash for LionOre, has heavily overbid a counterbid by Norilsk, Russia's mega nickel miner. BHP Billiton, Xstrata's acquisition nemesis, lurks still in the background to that possible deal, but may have ruled itself out on the basis of the huge break fee secured on Xstrata's revised bid.

BHP Billiton two years ago outbid Xstrata for Australia's WMC. The BHP Billiton/WMC west Australian nickel assets possess potentially intimate synergies with LionOre's Activox hydrometallurgical process technology. Industry experts see LionOre's Honeymoon Well 1m-ton contained nickel project as a look-alike in many respects for the jewel of BHP Billiton's nickel business, Mt Keith. Meanwhile, beyond the primary producers of nickel, South Africa's platinum mines continue to enjoy a lucrative side income from a secondary by-product.

The nickel business is taking on a whole new look and most analysts have pushed up the very long term forecast for the metal, not least on the view that such prices are required to ensure a reasonable return to develop new - mainly laterite - nickel mines. Capital expenditure inflation - mainly on the back of higher energy and (ironically) stainless steel costs - have forced the reorganization of industry cost curves.

There could be a sharp short-term correction in nickel prices, given market intelligence suggesting that a single entity holds substantial unofficial stocks, having gone long on the metal for speculative purposes. Trading house and nickel producer Glencore is mentioned most often, though company officials have declined to comment. But as one analyst puts it, "prices at these levels will likely lead to nickel demand destruction which strangely will probably help with stock rationing in what is viewed as a tight market".

Of Interest


LionOre Mining predicts it may not hit its 2007 nickel production target


Saturday, May 26, 2007

TORONTO (CP) - LionOre Mining International Ltd. TSX: LIM announced Saturday that the company expects a 2.9 per cent shortfall in the group's 2007 total nickel production target of 44,300 tonnes.

It's due to a delay in the target date for full mine production from the Maggie Hays underground mine, at the Lake Johnston operation in Australia, LionOre said in a release.

As a consequence, LionOre anticipates that the group's production for the year could drop to approximately 43,000 tonnes of payable nickel (37,700 tonnes attributable) compared with 44,300 tonnes (39,795 tonnes attributable) published in earlier guidance.

The Maggie Hays sub-level cave operation encountered poor ground conditions during the first quarter of 2007, which required mining activities to focus on rehabilitation to improve ground support in the production drives, LionOre said. A further deterioration in ground conditions has since resulted in a substantial increase in the required rehabilitation program, which will restrict the second quarter 2007 production plan.

As a result of this rehabilitation program, LionOre says it now expects full production levels from Maggie Hays to be attained in the third quarter of 2007. Life-of-mine nickel production is still in line with the current life-of-mine plan.

Management is currently reviewing opportunities at all locations to recover the delayed production, the company said.

Gladstone Pacific Nickel Limited
07 June 2007


GLADSTONE PACIFIC NICKEL LIMITED (ACN 104 261 887)

US$40 MILLION FINANCING COMMITTED


Gladstone Pacific Nickel Limited ('Gladstone' or 'the Company') announces
the completion of a fully subscribed private placement, raising
approximately US$40 million.


Special Warrants to the value of approximately US$30 million have been
issued today while Special Warrants to the value of approximately US$10
million have been committed and the issue will be closed as soon as possible
and not later than 13 August 2007.


These funds will enable Gladstone to progress its business plan including
the completion of its Integrated Definitive Feasibility Study for the
Gladstone Nickel Project ('GNP') and the furtherance of ore supply
agreements.


Gladstone is pursuing a listing of its ordinary shares on the Toronto
Stock Exchange or the TSX Venture Exchange within 180 days of this closing,
which is expected to assist in expanding its shareholder base in North
America.


Pursuant to its US$40 million placement that was approved by shareholders at the
Extraordinary General Meeting held on 29 May 2007 (the 'Placement'), the Company
issued today a total of 8,368,000 Special Warrants, raising approximately US$30
million. The remaining 2,789,000 Special Warrants will be issued, and the
balance of approximately US$10 million will be received, by the Company as soon
as possible but not later than 13 August 2007.

The issue of 2,789,000 Special Warrants to RAB Special Situations (Master) Funds
Ltd ('RAB') will occur only upon Australian Foreign Investment Review Board
('FIRB') approval. Should FIRB not approve the issue of these Special Warrants,
Transocean Group Holdings Pty Ltd (an entity related to Transocean Securities
Pty Ltd - an Agent) will subscribe for the 2,789,000 Special Warrants, on
similar terms, pursuant to an Underwriting Agreement with the Company. No
amounts are payable in respect of the Underwriting Agreement other than
reasonable legal costs and expenses incurred by Transocean Group Holdings Pty
Ltd.

Completing the Placement in two parts will have no adverse affect on Gladstone's
business plan.

John Downie, Chief Executive Officer of Gladstone, commented:

'The proceeds of the placing will underpin the significant progress being made
by the Company, in particular facilitating further ore supply agreements which
will ensure the long term substantial supply of high grade ore to the Project
and also supporting the expenditures associated with completion of the
Integrated Definitive Feasibility Study for the Project, due in the third
quarter of 2007.'

The Special Warrants are as described in the Explanatory Memorandum which
accompanied the Notice of Meeting for the Extraordinary General Meeting held on
29 May 2007.

As explained in that Explanatory Memorandum the Company will use its commercial
best-effort to obtain a listing on the Toronto Stock Exchange or the TSX Venture
Exchange, within 180 days of this closing ('Listing Date').

Special Warrant holders, holding 3,793,130 Special Warrants, have already elected
to convert them into Ordinary Shares listed on the AIM market and the Company has
today allotted the same number of Ordinary Shares. Application has been made for
3,793,130 Ordinary Shares to be admitted to trading on AIM. The Shares rank pari
passu with the Company's issued Ordinary Shares and are expected to trade on AIM
from 8 June, 2007. As a result of this allotment the Company has 34,145,846 Ordinary
Shares in issue.

Transocean Securities Pty Ltd and Research Capital Corporation acted as agents
on the Placement and received a fee equal to 7% of the Placement and 780,990
Broker Special Warrants in consideration for their services. Each Broker Special
Warrant represents a right to receive one Broker Option. Details of the Broker
Options are set out in the Explanatory Memorandum which accompanied the Notice
of Meeting for the Extraordinary General Meeting held on 29 May 2007 as
augmented by the Company's letter to shareholders dated 18 May 2007.


For further information contact:

Gladstone Pacific Nickel Limited
21 June 2007



GLADSTONE PACIFIC NICKEL LIMITED (ACN 104 261 887)


Additional Listing


The directors of Gladstone Pacific Nickel Limited ('Gladstone' or 'the Company')
advise that they have allotted 1,394,000 ordinary shares following the
instruction, by a Special Warrant Holder, to convert the same number of Special
Warrants into Ordinary Shares on the AIM market. Special Warrants were issued
to investors as part of the recently announced US$40 million private placement.
In accordance with the terms of the Special Warrants no further consideration
has been received.

The new shares rank pari passu with the Company's issued ordinary shares.
Application will be made for 1,394,000 ordinary shares to be admitted to trading
on AIM and dealings are expected to commence on 25 June 2007.

As a result of this allotment the Company will have 35,539,846 ordinary shares
on issue.



For further information contact:

Gladstone Pacific Nickel Limited
02 July 2007


Gladstone Pacific Nickel Ltd (the 'Company')

ACN 104 261 887

Directors' Dealings

Prior to the end of the Australian financial/tax year, Robash Pty Ltd (an
associated company of the Chairman, Mr R A Pearce) transferred 100,000 shares in
Gladstone Pacific Nickel Ltd on 29 June 2007 to Mr Pearce personally at a price
of 180p per share. Mr Pearce then transferred 90,000 of those shares to his
private superannuation fund (Mustang Asset Pty Ltd) at a price of 180p per share
and gifted the balance of 10,000 shares to various parties. On 2 July 2007,
Belgrave Square Pty Ltd (an associated company of Executive Director, Mr P J
Matheson) transferred 10,000 shares in the Company to Mr Matheson personally at
a price of 180p per share. Mr Matheson gifted 10,000 shares in the Company to
various parties.


Further to these transactions, these Directors' interests in the Company's
shares are as follows:

Director Total holding Percentage of issued
share capital

Mr R A Pearce 4,115,000 11.58%
Mr P J Matheson 4,115,000 11.58%


Enquiries to:

Julien McInally - Company Secretary

Gladstone Pacific Nickel Limited TEL: +61 7 3211 8899

Simon Rothschild - Bankside Consultants TEL: +44 207 367 8888

Christopher Caldwell - Insinger de Beaufort TEL: + 44 207 190 7022

Gladstone Pacific Nickel Limited
31 July 2007


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES


GLADSTONE PACIFIC NICKEL LIMITED (ACN 104 261 887)

US$40M Private Placement Complete

Gladstone Pacific Nickel ('the Company') is pleased to announce the receipt of
the final US$10 million of its US$40M Private Placement.

The Company has successfully completed its Private Placement, which was
announced on 7 June, 2007, with the receipt of US$10 million from RAB Special
Situations (Master) Funds ('RAB').

Australian Foreign Investment Review Board ('FIRB') approval for the issue of
2,789,000 Special Warrants has been granted to RAB. RAB has elected to
immediately convert its 2,789,000 Special Warrants into the same number of
Ordinary Shares to be admitted to trading on AIM.

The directors of Gladstone Pacific Nickel Limited advise that the Company will
allot 2,789,000 Ordinary Shares to RAB and an Application has been made for the
same number of Ordinary Shares to be admitted to trading on AIM where dealings
are expected to commence on 1 August, 2007. The new shares will rank pari passu
with the Company's issued Ordinary Shares.

As a result of this allotment the Company will have 38,328,846 ordinary shares
on issue.

The Company has made a successful application to obtain a listing on the Toronto
Stock Exchange ('TSX') to compliment the Company's AIM listing. Shares will
begin trading on the TSX at opening of trading on the 31 July 2007.

Note to Editors:
Gladstone Pacific Nickel Limited (GPNL) is an Australian mining development
company presently undertaking an Integrated Definitive Feasibility Study (IDFS)
for the Gladstone Nickel Project (GNP). The company's vision is to build a major
long-life nickel cobalt refinery at the deepwater Port of Gladstone, in Central
Queensland, Australia, treating abundant 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 producing some 126,000 tpa nickel (8
-10% of global nickel demand) and 10,400 tpa of cobalt metal from its first two
stages.