Gippsland trades on Frankfurt Stock Exchange

10 December 2007 | 03:46 Code : 16200 Geoscience events
Emerging tantalum major Gippsland Limited has continued its expansion into...

  Emerging tantalum major Gippsland Limited has continued its expansion into European capital markets, with the company's shares now trading on a regular basis on the Frankfurt Stock Exchange (Deutsche-Börse) under the code GIP.Gippsland's move onto the major German securities exchange follows its recent success in securing a 10-year tantalum offtake agreement with German major HC Starck GmbH, which considerably increased German investor interest in the company. Gippsland is presently in the advanced stage of negotiation with a number of leading German banks and financial institutions to secure project finance for the 40 million tonne Abu Dabbab tantalum project. Gippsland Executive Chairman, Jack Telford said he expected German investor interest in the company and its world scale tantalum project would continue to increase as the project moves towards production. "Germany is a powerhouse of world trade and a leader in many aspects of industry and technology, particularly in regard to tantalum," Mr Telford said. "We firmly believe that Gippsland's future as a leading supplier to the global tantalum industry will be best served by aligning the company with the financial and technical strength of Germany. “This will ensure Gippsland is positioned to take full advantage of its unique position in the tantalum supply chain. Having a EURO-based trading platform in Frankfurt will also provide better exposure and involvement with the wider European investor base," he said.

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