GobiMin Inc. is a junior mining company with nickel sulphide operations and development properties in northwestern China. The Company controls three concessions, within a 10-kilometre radius, totalling 455 hectares. In operation since 1999, GobiMin currently increases its mining production to approximately 330,000 tonnes of ore annually from two underground mines (Yellow Mountain East and Xiangshan). In 2007, 1,480 tonnes (3.26 million pounds) of nickel and 733 tonnes (1.62 million pounds) of copper contained in concentrates were sold. GobiMin continues to increase the production by improving the mining efficiency.
During 2007, GobiMin received a NI 43-101 compliant resource estimate from Met-Chem Canada Inc. of Montreal for its Yellow Mountain Deposit. At 0.2% cut-off, Indicated Mineral Resources are estimated at 12 million tonnes averaging 0.44% nickel, 0.29% copper and 0.026% cobalt while Inferred Resources total 48 million tonnes averaging 0.42% nickel, 0.27% copper and 0.026% cobalt.
GobiMin also formed five joint ventures in Xinjiang region owning 25 exploration licenses of copper, nickel, lead and zinc projects and one joint venture in Indonesia for nickel laterite exploration.
GobiMin's short-term objective is to complete the development plan and design of the Yellow Mountain project in the first half of 2008 and cooperate with local government to ensure the key infrastructures are in place for the development. . GobiMin aims to be a major player in the mining industry in China. The Company envisages increasing shareholder value through developing its existing projects and acquirement of advanced exploration projects in northwestern China.
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