Each one in plain English, with the numbers worked through for a shareholder.
26 Mar 2015material agreement▲ GoodMajor
On March 23, 2015 the subsidiary Rocky Mountain Minerals Corp. entered a lease and purchase option with Barrick Bullfrog Inc. over 6 patented, 20 unpatented and 8 mill site claims near Beatty, Nevada, including the SW half of the Montgomery-Shoshone pit. With the October 2014 option on the NE half, the company says it now controls the whole pit. To exercise, it must spend $1.5 million over five years and, at closing, transfer 3,230,000 company shares to Barrick Gold Corporation. The property carries a royalty, a back-in right and an overriding royalty.
On October 29, 2014 the company's subsidiary Rocky Mountain Minerals Corp. took a 10-year option from Mojave Gold Mining Corporation on 12 patented claims in Nye County, Nevada, next to the Bullfrog Gold Project and covering the NE half of the Montgomery-Shoshone pit. It issued 750,000 shares, paid $16,000, and must pay $190,000 more over 10 years, subject to a royalty. This builds the company's Nevada position after leaving Newsboy.
Barry Honig, GRQ Consultants, Inc, GRQ Consultants, Inc. Defined Benefit Plan reported a AUGUSTA GOLD CORP. shareholding of 4,020,619 shares (8.94% of votes) in a periodic institutional filing.
4 June 2014material agreement termination▼ BadMajor
On May 30, 2014 the company gave notice ending its option on the Newsboy Project in Arizona with Southwest Exploration Inc., effective June 30, 2014 (the filing misprints 3014). It will pay $20,860 for annual claim maintenance and have no further obligation. Newsboy was the project the 2012 financings were raised to fund, so this ends that thread and the company leaves the project.
On April 25, 2014 the company borrowed $220,000 through an unsecured 12.5% convertible note from NPX Metals, Inc., due in 24 months, to fund the Klondike Project in Nevada and for general corporate purposes. It pays a 10% arrangement fee and issued 220,000 warrants at $0.35. NPX can convert into shares at $0.25, with a further three-year warrant per share purchased. This adds debt and potential dilution.
Barry Honig, GRQ Consultants, Inc, GRQ Consultants, Defined Benefit Plan reported a AUGUSTA GOLD CORP. shareholding of 3,709,724 shares (8.25% of votes) in a periodic institutional filing.
This amendment to the February 25, 2013 restatement notice only adds a letter from the auditor, Peterson Sullivan LLP, as an exhibit. The restatement text is unchanged and no new figures are given.
On February 25, 2013 management said financial statements for the quarter ended September 30, 2011, the year ended December 31, 2011, and the quarters ended March, June and September 2012 can no longer be relied on, because the warrants from the September 2011 placement were wrongly valued. The warrant liability at September 30, 2011 rises by $563,301 and the 2011 net loss falls by $563,301. The company says the change is non-cash and plans amended 10-K and 10-Q filings. This affects the earlier quarterly loss figures reported for 2012.
