- GobiMin (GMN) is announcing a 2022 normal course issuer bid
- It may purchase up to 5 per cent of its issued and outstanding common shares beginning on April 29, 2022, until April 28, 2023
- The company believes its shares do not currently offer an accurate assessment of intrinsic value
- GobiMin invests primarily in mineral projects in China
- GobiMin (GMN) is unchanged trading at $0.21 per share
GobiMin (GMN) is announcing a 2022 normal course issuer bid.
Under the bid, the company may purchase up to 2,459,749 common shares, representing 5 per cent of its issued and outstanding common shares.
It will return all common shares purchased to treasury for cancellation.
The bid will begin on or after April 29, 2022, and will end on April 28, 2023.
Purchases will be conducted through Raymond James.
“In the view of GobiMin, the recent market prices of its common shares do not properly reflect its underlying value,” stated Felipe Tan, GobiMin’s CEO. “The purchase of shares under the bid can provide the company flexibility to maintain healthy regulatory capital ratios and to maximize shareholder value.”
GobiMin is focused on direct and indirect investments in mineral projects, primarily in China’s Xinjiang Uygur Autonomous Region.
GobiMin (GMN) is unchanged trading at $0.21 per share as of 2:51 pm EST.