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STREAMPLAY STUDIO LIMITED Capital/Financing Update 2006
65841_rns_2006-11-12_f93908cd-f449-4a79-a9a5-aabcd0999ee0.pdf
Capital/Financing Update
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Suite 34, 18 Stirling Highway, Nedlands WA 6009 PO Box 352, Nedlands WA 6909. Australia ABN 31 004 766 376 Tel: +61 8 9389 8611 Fax: +61 8 9389 8612 E-mail: [email protected] www.gippslanditd.com
13 November 2006
Termination of IFC Mandate
On 7 March 2006, the Directors of Gippsland Limited ("Gippsland" or "the Company") announced that the International Finance Corporation ("IFC"), a member of the World Bank Group, had been mandated ("the Mandate") as Lead Debt Arranger for Gippsland's 40 million tonne Abu Dabbab Tantalum-Tin Project (the "Project") in Egypt.
The Company announces today that it has terminated the IFC Mandate in order to pursue alternative sources of finance presently under consideration. In accordance with the termination notification clause of the IFC Mandate agreement, the termination shall be effective as from 23 November 2006 following which the Company is able to formalise these alternative project finance arrangements.
The Company appreciates the input and advice received from the IFC in regard to the development of However the Directors feel that alternative project finance arrangements being the Project. considered are likely to offer a number of advantages whilst also providing the opportunity to reduce the lead time for the development of the Project.
The termination of the IFC Mandate does not preclude the IFC from participating in the provision of finance for the Project.
RJ (Jack) Telford Executive Chairman
For further information please contact:
Jack Telford Gippsland Limited www.gippslandltd.com Tel: +61 (0)8 93898611 [email protected] Laurence Read / Ed Portman Conduit PR Tel: +44 (0)20 7429 6605 / 6607 [email protected] [email protected]
Les Polden / Luke Cairns Hoodless Brennan Plc Tel: +44 (0)20 7538 1166 [email protected] [email protected]