STREAMPLAY STUDIO LIMITED — AGM Information 2012

Nov 15, 2012

Gippsland Ltd AGM

Presentation – 16 November 2012

Disclaimer

This presentation has been prepared by Gippsland Ltd ("Company "). The presentation does not contain all the information that a prospective investor may require about the Company or its business. It is not a complete statement of material information. Except where stated, the information disclosed in this presentation ("Information") relates to the proposed business of the Company at the date of this document. This presentation does not contain advice relating to legal, taxation or investment matters. The Company makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the Information. The Company and its subsidiaries, directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from this presentation, except liability under statute that cannot be excluded

This presentation may contain reference to certain intentions, expectations and plans of the Company ("forward looking statements"). Those intentions, expectations and plans may or may not be achieved. Any forward looking statements are subject to inherent risks and uncertainties and are based on certain assumptions that may not be met or on which views may differ. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. Actual future results may be materially different. No representation or warranty, express or implied, is made by the Company or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. You are cautioned against relying upon any forward looking statement in this document

This presentation does not contain an offer of securities in a company, nor an invitation to apply for such securities. Nothing in this document should be construed as investment advice or financial product advice, whether personal or general, for the purposes of Section 766B of the Corporations Act. The document does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product. You should obtain professional advice and carry out your own independent investigations and assessment of the Information before acting

Information in this presentation which is attributed to a named third party source has not been checked or verified by the Company, TE and ARE . This presentation remains the property of Gippsland Ltd and may not be reproduced, distributed, transmitted or published (in whole or in part) without the prior consent of the Company.

Opportunities for using the fully demountable modular plant for the exploitation of other placer tin deposits

• In production, treatment capacity to increase to ~60 tph
• Production of tin contained in cassiterite concentrate to increase to approximately 80 tonnes of tin per month from February 2013
• Project life at increased throughput capacity approximately 8 months
• Revenue from tin concentrate sales over the eight-month period ~ US$12.4 million
• LOM Direct and indirect cash costs (excluding capital expense) ~ US$5.3 million
• LOM Capital Cost ~ US$1.2 million

Alluvial Separator set up Private Free Zone

Alluvial Stockpiles for processing 50tph mobile spiral plant (example)

Grade control pitting)

Open cut mining

Tin

• China is world's leading tin producer from both mine and smelter sources
• Indonesia second leading tin producer from both mine and smelter sources
• Total consumption 320,000 to 350,000 tonnes tin per annum and growing
• Technology driving demand

Very few new producers and decreasing production from existing sources

Tin

• China is world's leading tin producer from both mine and smelter sources
• Indonesia second leading tin producer from both mine and smelter sources
• Total consumption 320,000 to 350,000 tonnes tin per annum and growing
• Technology driving demand

Very few new producers and decreasing production from existing sources

Demand

Total demand estimated at 5 to 7 million pounds Ta2O5 per annum (in the order of 2,200 to 3,100 tonnes)

Price

• Tantalum does not trade as a commodity on recognised metal markets, but instead trades via longer term contracts
• In the twelve months to March 2011 the quoted 'spot' price for tantalum oxide rose from less than US$50 per pound Ta2O5 to in excess of US$130 per pound Ta2O5
• Since March 2011, the 'spot' price has traded between US$100 and $130 per pound (currently US$129/lb)

No new mine start-ups ! Supply shortfall of at least 2 million lbs/year ??

Abu Dabbab Resources & Reserves

JORC Compliant Ore Reserves (included in Resources) @ 29 May 2010

	TaO25	Tin (%)
Proven	15.2 Mt @ 260 g/t	0.170
Probable	18.0 Mt @ 245 g/t	0.099
Total	33.2 Mt @ 253 g/t	0.131
Mineable Inferred	8.2 Mt @ 210 g/t	0.040

JORC Compliant Resources @ 9 October 2009

	TaO25	Tin (%)
Measured	15.2 Mt @ 290 g/t	0.143
Indicated	17.3 Mt @ 250 g/t	0.078
Inferred	12.0 Mt @ 200 g/t	0.030
Total	44.5 Mt @ 250 g/t	0.090

A world-class source of Tantalum

• Tantalum Egypt JSC Abu Dabbab & Nuweibi Projects
  • Potentially the world's largest single producer of primary tantalum feedstock
  • 25% of the world's primary supply
  • Will provide a stable, long term and conflict free supply of this vital strategic raw material
  • In production will produce :
    • over 925,000lbs per annum of Ta2O5
    • 2,300t per annum of LME grade tin metal
    • 2.4mtpa of ceramic-grade feldspar
• TE seeking financing of US$225 million to fund the total Project capital and development costs for Phase 1

Project Status

• Bankable Feasibility Study complete
• Environmental and Social Impact Assessment
  • completed to World Bank standards
• Licence tenure 30 years with option to extend 30 years
• 18 month construction timetable
• Offtake Agreement for 600,000 lbs Ta2O5 per annum for 10 years
• Financing under way
  • Financing discussions underway for Stage 1 (US$225 million)
  • Indicative draft terms sheet received from four Egyptian banks
  • Financial Advisor appointed (Canada)
  • Preliminary discussions commenced with potential Equity investors

Project Key Financial Statistics

Note: Financial evaluation assumes market price for diesel fuel, notwithstanding current fuel price subsidies

GIP ASX Announcement dated 8 July 2011

Project Upside - Nuweibi

Considerable potential to expand and leverage the Abu Dabbab process plant for several decades beyond the initial project 13.8 year Abu Dabbab life-of-mine

• Located 16 km south of Abu Dabbab
• Owned by TE JSC
• Licence tenure of 30 years with option to extend for 30 years
• Resource open to the east, to the west and at depth

JORC Resources	TaO25
Indicated	48 Mt @ 147 g/t
Inferred	50 Mt @ 138 g/t
Total	98 Mt @ 143 g/t

Adobha Project in Eritrea - Geological Setting

• The richly endowed but very poorly explored Nubian-Arabian Shield.
• The Precambrian Nubian-Arabian Shield hosts numerous +1Moz gold deposits including the 13.7Moz Sukari gold deposit.
• VMS deposits including Bisha & Ariab-Hassai mines.

Adobha Project - Geological and Structural Setting

• Similar stratigraphic package to Bisha.
• Favourable HREE pattern.
• Structural corridor extends north from Koka.

Adobha Project – Mineralised Cobble

Adobha Project – Early Exploration

Anomaly E26

• Widespread copper mineralisation in bedrock with values up to 10.63% Cu
• Large area of discontinuous copper mineralisation (390m x 520m)
• Mineralisation open to the east and north
• Copper bearing samples analysed up to 1.15g/t Au

Anomaly E21

• Copper mineralisation identified over 1.7km strike length
• High lead values (up to 0.97%) indicate favourable lithology for VMS deposits

Adobha Project - Helicopter Geophysical Survey

• Helicopter VTEM survey identified 16 EM targets including 5 high priority targets.
• Aeromagnetic survey.
• Ground inspection of high and medium priority targets.
• Gravity surveys of best targets.
• Soil / rock-chip sampling.
• Geological mapping.

Adobha Project – Prospects (V14)

• Exploration summary maps prepared prior to drilling.
• Significant site access required and drill pad preparation.

Anomaly	Hole	From	To	Interval	Grade	N-UTM	E-UTM
		(m)	(m)	(m)
V11	RCAD11	40	46	6	2,377ppm Zn,
					654ppm Pb
						1885351	406469
V13	RCAD03	46	62	16	720ppm Cu
						1924918	406363
V14	RCAD05	40	68	28	410ppm Cu	1918720	410861
	Incl.	42	46	4	1,435ppm Cu
V14	RCAD06	0	26	26	1,638ppmCu	1918797	410832
	Incl.	22	24	2	7,597ppm Cu

Adobha Project – V12

Adobha Project – V12

Felsic tuff horizon containing oxidised pyrite

Adobha Project – Gerasi South EL

• Along strike from Koka gold deposit 0.84Moz.
• Anomalous gold in drainage samples.
• Areas of artisanal workings.

Competent Person Statement

In accordance with Listing Rule 5.6 of the Australian Stock Exchange Limited, the geological information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on data compiled by Dr John Chisholm, a Fellow of The Australasian Institute of Mining and Metallurgy. Dr Chisholm has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Chisholm consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.