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Since the successful completion of the disposal of its two Chinese subsidiaries in February 2009, GobiMin is now in a strong financial position to develop its existing and potential projects.
GobiMin intends to build a vertically integrated silver operation. GobiMin is currently holding a 49% equity interest in CPM which engages mostly in silver trading. CPM buys physical silver ingots from producers and sells them directly to end consumers. All its positions are hedged and it is not exposed to market price movements.
Making opportunistic acquisitions with the cash reserves remains the Company's objective. With a cash balance of approximately $76 million as at September 30, 2009, GobiMin will keep on searching and evaluating high quality exploration and mining projects in China and overseas. Several projects are currently under negotiation and assessment.
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