TIDMGPN 
 
RNS Number : 8598T 
Gladstone Pacific Nickel Limited 
05 October 2010 
 

5 October 2010 
 
                        GLADSTONE PACIFIC NICKEL LIMITED 
                                (ACN 104 261 887) 
 
             QNI Takeover Offer - Publication of Target's Statement 
 
Gladstone Pacific Nickel Limited ("GPNL" or the "Company") announces that it has 
lodged with the Australian Securities & Investments Commission ("ASIC") the 
Company's Target's Statement, in response to the takeover offer by QNI Resources 
Pty Ltd ("QNI") for all the shares in GPNL that it does not already own (the 
"Offer"), which was announced on 12 August 2010. 
 
Shareholders should carefully consider the Target's Statement, including the 
recommendations of the Independent Director and the accompanying Independent 
Expert's Report, before making a decision regarding QNI's Offer. 
 
The Target's Statement contains a recommendation to GPNL shareholders by Dominic 
Martino, as the only independent director of GPNL. Mr Martino recommends 
shareholders REJECT the Offer if you have a medium to long term investment 
horizon and you are prepared to accept the significant and material ongoing 
risks of an investment in GPNL. However, if you do not wish to accept those 
significant and material ongoing risks of an investment in GPNL or have a 
shorter term investment horizon, you may wish to CONSIDER ACCEPTING QNI's Offer. 
The key reasons for Mr Martino's recommendation are set out in the Target's 
Statement. 
 
The Target's Statement contains an Independent Expert's report. The Independent 
Expert has concluded that the Offer is not fair and not reasonable. 
 
The Target's Statement also contains draft unaudited accounts for GPNL for the 
year ended 30 June 2010. Audited financial statements are expected to be 
released on or around 8 October 2010. 
 
The takeover offer period commenced on 21 September 2010 and unless withdrawn or 
extended in accordance with the Corporations Act is open until 5:00pm (Sydney 
time) on 25 October 2010. 
 
A copy of the Target's Statement is available on the Company's website 
www.gladstonepacific.com.au and will be despatched to GPNL Shareholders by 
5:00pm (Brisbane time) Wednesday, 6 October 2010. 
 
 
ENDS 
 
For more information or comment 
 
Julien McInally - Gladstone Pacific Nickel Ltd 
Tel:+61(0)7 3231 7100 
 
 Fiona Owen / Robert Beenstock - Grant Thornton Corporate Finance 
Tel:+44 20 7383 5100 
 
 Richard Johnson - Arbuthnot Securities 
 
Tel: +44 20 7012 2000 
 
Email: info@gladstonepacific.com.au 
Gladstone Pacific Nickel Limited is an Australian mining development company 
presently undertaking an Integrated Definitive Feasibility Study for the 
Gladstone Nickel Project. 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. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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