September 2017 - Change of Business

The Company 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, the Company will utilize its strong working capital position, its 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

The Group disposed of 113,000,000 shares of Loco Hong Kong Holdings Limited ("Loco HK") to third parties for gross proceeds of USD10.62 million. In view of the market price of Loco HK shares and the economic conditions, the Group believed that it was good timing and value for GobiMin to realize 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. Immediately after the disposal, GobiMin remained having a 10% equity interest in Loco HK.

September 2015 – Disposal of 40,000,000 Shares in Loco HK

The Group disposed of 40,000,000 shares, being part of its shareholding, of Loco HK to third parties and received gross proceeds of USD4.74 million. The carrying cost of the disposed interest was USD1.6 million. The Group recognized a gain of USD3.5 million after deducting the related expense of USD0.1 million. GobiMin retained a 38.30% equity interest in Lock 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”) was successfully listed on GEM of The Stock Exchange of Hong Kong Limited under the stock code of “8162”. GobiMin then held an equity interest of 48.02% in Lock HK. Lock HK and its subsidiaries are principally engaged in trading of metals and commodity forward contracts in Hong Kong.

December 2012, November 2013 & June 2014 – Disposal of 32% Interest in Yanxi Copper Property

After the sale of 80% equity interest in Yanxi Copper Property ("Property"), including a 32% equity interest from GobiMin, was completed in July 2010, GobiMin entered into supplemental agreements with the buyer. Pursuant to which, in addition to applying for the mining license for the Property, GobiMin was also responsible for applying for the mining licence of an area adjacent to the Property ("New Area"). Besides the consideration for the Property of USD33.3 million, GobiMin and the two local partners were entitled to an additional consideration of USD10.8 million ("Addtional Consideration") in cash based on the resource estimate of the New Area. During the year ended 31 December 2012, GobiMin had received full payment of the convertible bonds and recognized a gain of USD8.2 million on the disposal. In November 2013, the equity interest of the licence holding company of the Property owned by GobiMin was further diluted from 8% to 3.5% due to capital injection by one of its shareholders. In June 2014, GobiMin received all the Additional Consideration and recognized a gain of approximately USD4.0 million for the New Area.

September 2011 – Disposal of 24.29% Interest in Balikun Coal Project

GobiMin disposed of its 24.29% interest in Balikun Coal Project for a total consideration of approximately USD31.76 million including the repayment to GobiMin and an existing shareholder of the loans and related interest to the project. GobiMin recorded a gain of approximately USD8.83 million on 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. The transaction was completed in July 2010 and GobiMin had received all the cash consideration and the first lot of the convertible bonds. Immediately after the transfer, GobiMin retained an 8% indirect unlisted equity interest in 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 Maintain East, Xiangshan and Yellow Mountain, in Xinjiang for total sale proceeds of approximately CAD87.9 million. GobiMin recorded a disposal gain of approximately USD31.4 million.