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/

funny old share this Smiler..... markets as they are plus slide in nickel price and surplus Ni stockpiles mean this may slide further until one or more of the factors above changes. Let's see what the chinese do?

yes keeping an eye on this one !! ;)

Awful chart could still drop off a fair bit, just e-mailed them to ask what is going on or what is not!!!!

Yes flasher !! Well bad time's for All Still below the Radar but at this level I think its a strong Buy IMHO ... like FOGL !! ; )

yes waiting for FOGL to bottom out then im in like a Flash

is that a jumping jack flash flasher? i bought 2 x lots of 500 of these today - came up as ? on the trades - can confirm they are buys. (will prob drop like a stone as a result!)

ps Smiler/Flasher, 1 bought 500 worth of fogl too - missed the bottom but still look cheap to me

like the look of Western Zagros Resources too.... on the TSX and in Kurd controlled N.Iraq but lots of potential to go boom (both ways....)

Sounds good ajcc ;) I do like the potential of GPN, and FOGL !

chinese dont give damn about present nickel stockplie. china only give damn about 20 year supply story. china need nickel for next 20 year and dont want to let bhp and crony extort them on high price. china build gpn project and get 10% of world nickel supply for self. hahahahahah, that china strategy for world domination. you stupid westerner never understand china strategy. that what make us strong.

so in the possible words of a 'china man' this will go ahead. IMO. but idont think the risk reward is quite there yet, best to wait for some movement IMO.

china should leave tibet alone and stop torturing them in their own barbaric and disgusting way.
china should stop sending arms to mugabe.......and stop giving arms to burma....and darfur

the chinese authorities are a brutal and evil regime

There is movement and its Down KP !! ajcc how low ?

GLADSTONE PACIFIC NICKEL LIMITED (ACN 104 261 887)

('GPNL' or 'the Company')




GPNL FINALISES SHARES TO BE ISSUED TO JOINT VENTURE PARTNER




GPNL is pleased to announce an amendment to its agreement with SociMinie Georges Montagnat ('SMGM') and its shareholders, with whom GPNL have agreed to establish an incorporated mining joint venture ('JV') in New Caledonia, as announced on 20 August 2007. The JV Company has been incorporated and has obtained approval for exploration of the tenement area covered by the JV. An extensive drilling campaign commenced in February 2008 to confirm the resource potential to JORC standards.




Under the original agreement, approved by the Company's shareholders on 22 November 2007, GPNL had agreed to issue approximately 12 million shares to the SMGM shareholders, in August 2010. The exact number of shares was to be determined using a formula based on the GPNL share price at the time of issue of the shares. GPNL has now agreed to issue a fixed 15 million shares to SMGM in August 2010, as an amendment to this agreement. All other conditions of the SMGM agreement remain unchanged.




John Downie, GPNL CEO said, 'Fixing the number of shares to be issued gives GPNL certainty as to how many shares may be issued in the future and enables other transactions to be entered into in progressing the funding of its Gladstone Nickel Project. Fixing the number of shares avoids the possibility of a higher number of shares being required to be issued under the original formula and also gives the shareholders in SMGM certainty over their interest in GPNL'




Following the finalisation of certain administrative matters, GPNL will acquire an initial 1% shareholding in the JV entity and the right to appoint half the JV Company's directors. In return the shareholders of SMGM will be offered a seat on the GPNL board.




The issue of the fixed 15 million GPNL shares, in August 2010, will be consideration for the purchase of an additional 48% interest in the JV entity taking GPNL's interest in the JV entity, at that time, to 49%.




;) the games a foot

yeah but what about this dilution the 50% that palmer gets gives no value for the gpn business or assets - the land in gladstone, the people, permits, planning, feasibility studies, JV with new caledonia? or am i misunderstanding that ediga and the other company are more than shell companies?

:)

did you get any KP ? ajcc at least it moved !

it did Smiler - interesting news - just trying to decipher what it all means for the PI.....

With this latest news you would expect this share to fly now, but in these markets it may not what do you think ajcc/smiler

GLADSTONE PACIFIC NICKEL LTD

ACN (104 261 887)

('GPNL'' or 'the Company')




GPNL TERMINATES ORE SUPPLY HEADS OF AGREEMENT WITH SMT




As announced on 22 July 2008, the cross equity participation arrangements on the Ouinne SAS JV have now been fixed with SociMinie Georges Montagnat ('SMGM'). GPNL today announces the termination of its Heads of Agreement ('HOA'), to secure limonite nickel ore supply from New Caledonia, with Socides Mines de la Tontouta ('SMT').




The agreement with SMT provided GPNL with an option, upon payment of an additional option fee before 1 January 2008, to participate in the development of a new mine in New Caledonia. The date for payment of the option fee was extended, however, despite the efforts of both parties; the lack of success in obtaining access to the tenements for drilling purposes, has resulted in the Company electing not to exercise its option.




GPNL's CEO, Mr. John Downie, said, 'It became clear that access to the proposed new SMT mine site, to initiate drilling activities and then to continue with ultimate development, would be difficult and take a considerable amount of time. The Company's objectives will be better served by focusing its resources at other more immediate opportunities.'




Mr. Downie further added, 'GPNL's Feasibility Study (iDFS) did not include the supply of ore from the location under this HOA with SMT. Instead, it assumed that ore would be sourced from the Company's JV with SMGM at Ouinne in New Caledonia. Drilling is progressing at Ouinne with 3,871 metres of its 8,000 metre program complete.'




The iDFS included the purchase of 600,000 to 800,000 wet metric tonnes of limonite nickel ore per annum from SMT's existing mines under the HOA. The Company will however now source this ore from Ouinne through its Joint Venture with SMGM subject to appropriate approvals being granted by New Caledonian authorities.




'The Company continues to progress development of its ore resource base and will continue to work with SMT, outside of the previous HOA, to explore additional resource opportunities' said Mr. Downie.

Gladstone Pacific Nickel says terminates ore supply heads of agreement with SMT
AFX


LONDON (Thomson Financial) - Gladstone Pacific Nickel Ltd. said it has terminated the ore supply heads of agreement from New Caledonia with Socie des Mines de la Tontouta (SMT).

It said the agreement with SMT provided the company with an option, upon payment of an additional option fee before Jan.1, 2008, to participate in the development of a new mine in New Caledonia.

The company said it will now source limonite nickel ore from Ouinne through its joint venture with Socie Minie Georges Montagnat (SMGM) subject to approvals.

Separately, it said it has received a commercial offer for the turnkey procurement and construction contract from MCC.



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