TORONTO, Jan. 16, 2014 /CNW/ - (TSXV: GMN) GobiMin Inc. ("GobiMin" or
the "Company") is pleased to announce that in relation to the disposal
of the Yanxi Copper Deposit (the "Deposit"), the Company has received
full payment of the principal amount of the convertible bonds of
USD28.3 million (HKD220 million) together with the accrued interests
upon its maturity and has settled the consideration payables to the two
PRC shareholders of the Deposit. GobiMin recorded a gain on the
disposal of USD8.2 million, after deducting the share of the
consideration payables to the PRC shareholders and the related costs.
GobiMin owns a 70% equity interest in Xinjiang Tongyuan Minerals Limited
for the development of the Sawayaerdun Gold Project in Xinjiang, China.
GobiMin also owns a 40%-50% interest each in three other base metal
joint ventures in Xinjiang and an 3.5% equity interest in the Yanxi
Copper Deposit. In addition, the Company also holds a 48.02% equity
interest in a silver operation.
GobiMin is aggressively seeking opportunities to acquire high quality
mining and exploration projects.
Certain statements contained in this press release constitute
forward-looking information. Such statements are based on the current
expectations of management of GobiMin. The readers are cautioned that
such statements are subject to a multitude of risks and uncertainties
that could cause actual results, future circumstances or events to
differ materially from those projected in the forward-looking
information. The readers should not place undue reliance on the
forward-looking information included in this press release given that
(i) actual results could differ materially from a conclusion, forecast
or projection in the forward-looking information, and (ii) certain
material factors or assumptions were applied in drawing a conclusion or
making a forecast or projection as reflected in the forward-looking
information could prove to be inaccurate. These statements speak only
as of the date they are made, and GobiMin assumes no obligation to
revise such statements as a result of any event, circumstance or
otherwise, except in accordance with law.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
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SOURCE: GobiMin Inc.
For further information:
Felipe Tan, Chief Executive Officer
Tel: (852) 3586-6500