Corporate Highlights

September 2017

Change of Business

GobiMin changed its business from “mining issuer” to an “investment issuer”, and has received the shareholder approval at the annual general and special meeting held on September 5, 2017 and the final approval from TSX Venture Exchange. Under the new strategy, we will utilize our strong working capital position, extensive industry contacts and internal expertise to build a portfolio of high-quality investments.

August 2016

Disposal of 113,000,000 shares in Loco HK

GobiMin disposed of 113,000,000 shares of Loco HK to third parties for gross proceeds of USD10.6 million. We recognized a gain of USD9.5 million. After the disposal, GobiMin remains having a 10% equity interest in Loco HK. In view of the market price of Loco HK shares and the economic conditions, we believed that it was a good timing and value for GobiMin to realise part of its investment in Loco HK. GobiMin can increase the flexibility to invest in more potential assets or projects in future and strengthen its financial resources.

September 2015

Disposal of 40,000,000 shares in Loco HK

GobiMin disposed of 40,000,000 shares, representing part of its shareholding, of Loco HK to third parties and received gross proceeds of USD4.7 million. We recognized a gain of USD3.5 million after deducting the related expense. GobiMin retained a 38.30% equity interest in Loco HK subsequent to the disposition.

August 2014

Listing of shares of Loco Hong Kong Holdings Limited

The shares of Loco Hong Kong Holdings Limited (“Loco HK”) were successfully listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited under the stock code “8162”. GobiMin held an equity interest of 48.02% in Loco HK. Loco HK and its subsidiaries are principally engaged in trading of metals and commodity forward contracts in Hong Kong.

December 2012,
December 2013
& June 2014

Disposal of 32% interest in Yanxi Copper Property

Further to the disposal agreement entered into in July 2010, the total consideration for the disposal of 80% of the Yanxi Copper Property together with an area which is adjacent to the Property (the “New Area”) was subsequently agreed to be USD44.2 million. Among the equity interest disposed, 32% was held by GobiMin and the remaining 48% was held by two local partners.

As at December 31, 2012, GobiMin had received a total amount of USD38.7 million. The remaining consideration of USD5.4 million was withheld by the buyer to settle the fee related to the application for the mining licence of the New Area. GobiMin had recorded a gain on disposal of the Yanxi Copper Property of USD8.2 million.

As at December 31, 2013, GobiMin received the full payment of the principal amount of the convertibal bonds of USD28.3 million together with the accrued interests upon its maturity.

In June 2014, GobiMin received the remaining balance of the consideration of USD5.4 million for the New Area.

September 2011

Disposal of 24.49% interest in Balikun Coal Project

GobiMin disposed of its 24.49% interest in Balikun Coal Project for a total consideration of approximately USD31.8 million including the repayment to GobiMin and existing shareholder of the loans and related interest to the project. GobiMin recorded a gain of approximately USD8.8 million of the disposal.

July 2010

Disposal of 32% interest in Yanxi Copper Property

In 2010, GobiMin contractually arranged for the transfer of the legal title of 32% of its equity interest in Yanxi Copper Property in Xinjiang, China. After the transfer, GobiMin retains an 8% indirect unlisted equity interest in the Yanxi Copper Property.

February 2009

Disposal of three operating nickel-copper properties

GobiMin disposed of all its equity interest in three nickel-copper properties, namely Yellow Mountain East, Xiangshan and Yellow Mountain, in Xinjiang for total sales proceeds of approximately USD 72.2 million. GobiMin recorded a disposal gain of approximately USD31.4 million.