OTCPK:GMNFF - Post by User
Comment by
birchjunkon Jan 17, 2013 7:48pm
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Post# 20854066
History of project sales
History of project sales History shows that Sawayerdun gold mine will be sold, once they have finished their delineation and development work, which should be this year.
Zone 1V should exceed 4.5 million oz when updated and could easily support a 100,000 oz/year mine for at least 15 years.
Hard to judge Chinese valuations but they are approaching western values.
So, $150 million would be very cheap.
That may seen unrealistic, but these folks sold their nickel-copper project for $88 million in the depths of the 2009 recession....
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 CAD87.9 million. GobiMin recorded a disposal gain of approximately USD31.4 million. |
July
2010 | Disposal of 32% interest in Yanxi Copper Property
GobiMin disposed of its 32% interest in Yanxi Copper Property for a total consideration of USD47.07 million (HKD365 million) with the final consideration of USD33.4 million (HKD259 million) will be received upon obtaining the Yanxi Mining License. The Company would record an estimated gain of about USD5.7 million for its disposal of the 32% equity interest in Tongxing, with a further potential gain to be ascertained and realized after finalizing the New Mining Licence and the related exploration work. |
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 USD31.76 million including the repayment to GobiMin and existing shareholder of the loans and related interest to the project. GobiMin recorded a gain of approximately USD8.83 million of the disposal |