TSX-V: GMN
(Expressed in United States dollars except where otherwise indicated)
TORONTO, April 24, 2014 /CNW/ - (TSXV: GMN) GobiMin Inc. (the "Company"
or "GobiMin") announces its financial results for the year ended
December 31, 2013 and the declaration of an annual dividend of $0.01(CAD0.01) per share.
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| Financial Highlights |
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| As at / For the year ended December 31, |
| 2013 |
| 2012 |
| (Restated)
2011 |
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| $ |
| $ |
| $ |
Revenue
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| - |
| - |
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-
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Other revenue
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| 1.5 million |
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1.1 million
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0.9 million
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Share of results of associates and a joint venture
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| 0.3 million |
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0.4 million
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0.3 million
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Gain on disposal of an associate
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| - |
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8.2 million
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8.8 million
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Change in fair value of other financial assets
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| (1.4 million) |
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2.5 million
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(2.7 million)
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Profit (loss) for the year
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| (3.6 million) |
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2.9 million
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2.5 million
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EBITDA (LBITDA)(1) |
| (4.2 million) |
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5.8 million
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2.2 million
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Basic earnings (losses) per share
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| (0.05) |
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0.06
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0.05
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Diluted earnings (losses) per share
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| (0.05) |
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0.06
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0.05
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EBITDA (LBITDA) per share(1) |
| (0.07) |
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0.10
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0.03
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Cash and cash equivalents
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| 54.5 million |
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46.6 million
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62.3 million
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Cash and cash equivalents per share(1) |
| 0.94 |
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0.78
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1.00
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Working capital
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| 39.7 million |
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49.3 million
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52.4 million
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Total non-current financial liabilities
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| 4.5 million |
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3.4 million
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83,000
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Total liabilities
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| 34.6 million |
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33.3 million
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23.4 million
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Total assets
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| 118.3 million |
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121.1 million
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110.0 million
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Annual dividend per share (2) |
| 0.01 |
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0.01
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0.01
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| Note: |
| (1)
| As non-IFRS measurements, EBITDA (LBITDA) (earnings (losses) before interest income and expense, income taxes,
depreciation and amortisation), EBITDA (LBITDA) per share and Cash and cash equivalents per share do not comply with IFRS and, therefore, the amounts presented in the
above table may not be comparable to similar data presented by other
companies. The data is intended to provide additional information and
should not be considered in isolation or as a substitute for measures
of performance prepared in accordance with IFRS. |
| (2)
| The Company declared an annual dividend of $0.01 (CAD0.01) per share for
2013 in accordance with its dividend policy and the 2013 annual
performance. For 2012, the Company paid an annual dividend of $0.01
(CAD0.01) per share pursuant to its dividend policy and the 2012 annual
performance. |
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Annual Dividend
On April 24, 2014, the Company declared an annual dividend of
$0.01(CAD0.01) per share in accordance with its dividend policy and the
2013 annual performance. The dividend is payable on June 24, 2014 to
shareholders of record on May 29, 2014.
Business Summary and Development
The Company owns a 70% equity interest in a company incorporated in
China to develop and operate the Sawayaerdun Gold Project (the "Gold
Project") in Xinjiang. During 2013, GobiMin conducted an approximately
8,600 meters diamond drill holes campaign. In September 2013, GobiMin
engaged Mr. Jeremy Clark and Mr. David Allmark, Qualified Persons as
defined in the NI 43-101, from Runge Asia Limited trading as
RungePincockMinarco to prepare Mineral Resource Technical Report in
line with the NI 43-101 Standards of Disclosure for the Mineral
Projects, which has been published in April 2014. At a cut-off grade of
1.0 grams/tonne gold, its Zone I and Zone IV are estimated to contain a
total of approximately 22 million tonnes at an average grade of 1.8
grams/tonne Au (about 1.27 million contained oz Au) in the Measured and
Indicated Resources category and approximately 62 million tonnes
averaging 1.4 grams/tonne Au (about 2.7 million contained oz Au) in the
Inferred Resources category. The exploration results of 2013 has
further increased the confidence and understanding of the
mineralization and thus provide more reliable data for the mining plan.
The full report can be viewed at SEDAR at www.sedar.com and the Company's website at www.gobimin.com.
GobiMin holds an equity interest of 48.02% in China Precision Material
Limited ("China Precision") which engages in metal trading and
processing, predominantly in silver. On April 23, 2014, GobiMin
announced that China Precision kicked off its plan to apply for listing
on the Growth Enterprise Market of the Stock Exchange of Hong Kong
Limited ("HKEx") by way of placing. The application for listing and
details of the transaction are subject to approval of the HKEx.
In addition, GobiMin owns 40% equity interest each in three companies
incorporated in China to engage in base metals and precious metal
exploration, including nickel, copper, and gold, in Xinjiang, and a
3.5% equity interest in the Yanxi Copper Property.
Certain statements contained in this press release constitute
forward-looking information. Such statements are based on the current
expectations of management of GobiMin. You 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.
Forward looking information includes without limitation, statements
regarding the size and quality of the Company's mineral resources,
progress in development of mineral properties, the prospective
mineralization of the properties, and planned exploration programs.
The reader 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."
To receive GobiMin press releases by email, send a message to info@gobimin.com and specify "GobiMin press releases" on the subject line.
SOURCE GobiMin Inc.
<p> Felipe Tan, Chief Executive Officer<br/> Tel: (852) 3586-6500<br/> Email: <a href="mailto:felipe@gobimin.com">felipe@gobimin.com</a><br/> <br/> </p>