GVM Gvm Metals

RNS Number:7868D
GVM Metals Ltd
31 May 2006


                               GVM METALS LIMITED

                           NOTICE OF GENERAL MEETING

                                GRANT OF OPTIONS


GVM Metals Ltd ("GVM" or "the Company") (ticker: "GVM"), the South African
mineral processing and coal mining company, announces that has posted a circular
to shareholders with details of a General Meeting to be held at the Swan Foyer,
The Old Swan Brewery, 173 Mounts Bay Road, Perth, Western Australia on 28 June
2006 at 10.00 am (WST), for the purpose of transacting the following business:

Resolution 1: to ratify the issue of 3,612,500 Shares principally as
consideration for the acquisition of 74% of NIMAG (Proprietary) Ltd.

Resolution 2: to approve the allotment and issue of 20,812,500 Shares at a
deemed issue price of 25 cents each, to acquire a 74% interest in Limpopo Coal
as announced on 26 April 2006.

Resolution 3: to approve the allotment and issue of up to 40,000,000 Shares in
the capital of the Company at an issue price of not less than 80% of the average
market price of the Company's Shares on the ASX over the last 5 days on which
sales of the Shares are recorded before the date of issue.  Any such new
ordinary Shares to be issued pursuant to a capital fundraising are to be issued
within 3 months of shareholders' approval, following which such authority will
expire.

Resolution 4 - to authorise the Directors to grant 4,000,000 options for no
consideration, exercisable on or before 30 September 2011 at an exercise price
of 50 cents each, to Simon Farrell or his nominee.

Resolution 5 - to authorise the Directors to grant 2,000,000 options for no
consideration, exercisable on or before 30 September 2011 at an exercise price
of 50 cents each, to Richard Linnell or his nominee.

Resolution 6 - to authorise the Directors to grant 1,000,000 options for no
consideration, exercisable on or before 30 September 2011 at an exercise price
of 50 cents each, to Peter Cordin or his nominee.

Resolution 7 - to authorize the Directors to grant 1,000,000 options for no
consideration, exercisable on or before 30 September 2011 at an exercise price
of 50 cents each, to Blair Sergeant or his nominee.

Copies of the circular are available from the Company's website: www.gvm.com.au.


Simon Farrell, Managing Director of GVM Metals, said:

"The acquisition of Limpopo is a major step forward for GVM especially as the
Limpopo area is seen by many as the new coal province of South Africa.  Work
continues at Holfontein and drilling is planned to commence at Limpopo before
the end of the year.  These two assets are the core of our future development
and negotiations continue to further expand our interests in both areas."


Enquiries

Simon Farrell                                 + 61 417 985 383
GVM Metals

Olly Cairns                                   +44 (0) 20 7448 4400
Corporate Synergy

Leesa Peters / Abby Singleton                 +44 (0) 20 7429 6600 /6606
Conduit PR

For the purposes of Resolutions 1 - 7, the following definitions apply:

"ASX" means Australian Stock Exchange Limited;

"Company" means GVM Metals Limited ABN 98 008 905 388;

"Corporations Act" means Corporations Act 2001 (Cth);

"Limpopo Coal" means Limpopo Coal Company (Proprietary) Limited (formerly
Zingaro Trade 39 (Proprietary) Limited), Registration No. 2005/006072/07, a
limited liability private company duly incorporated in the Republic of South
Africa, and the owner of the Limpopo Coal Project;

"Limpopo Coal Project" means the prospecting and exploitation of the
metallurgical and bituminous coal resource on the Farms Over Vlakte 125 MS,
Bergen Op Zoom 124 MS, Simple 155 MS and Voerspoed 836 MS, in respect of which
an application for prospecting rights has been made in the name of Limpopo Coal;
and

"Shares" means fully paid ordinary shares in the capital of the Company.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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