10 June 2013listing compliance notice▼ Bad
AURORA GOLD CORP withdrew a registration statement, abandoning the offering it covered.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 Oct 2012business combination● NeutralMajor
The Alltech sale closed on October 5, 2012: 135,000,000 shares for $5,000,000 (about US$0.037 a share), roughly 54% of the shares outstanding, which the filing says is a change in control. Existing holders are heavily diluted. The board grew from three to five, adding Alltech's picks Vladimir Bernshtein (also Chief Business Development Director) and Andrey Ratsko. The company says the money is working capital for exploring the Sao Domingo property in Brazil, including the Fofoca resource and the newly found Toucano occurrence; the press release describes it as a refocus on Brazil, with no mention of Front Range.
27 Sept 2012material agreement● NeutralMajor
On September 21, 2012 Aurora agreed to sell 135,000,000 new shares to Alltech Capital Limited for $5,000,000, with closing expected by October 31, 2012. This is far larger than the 2011 raisings and would greatly dilute existing holders.
13 Apr 2012material agreement● Neutral
On April 10, 2012 Aurora signed services agreements with CEO Lars Pearl (12,000 Swiss Francs a month from April 1, 2012, six months' severance if terminated without cause) and Chairman and sole independent director Agustin Gomez de Segura ($3,000 a month, three months' severance). It also granted 200,000 options at $0.065 for five years to Global Strategic Synergies Pty Ltd. This sets formal pay for the two leaders.
18 Jan 2012material agreement● Neutral
On January 13, 2012 the board granted five-year options at $0.05 per share, vested immediately, to Lars Pearl (800,000) and Agustin Gomez de Segura (800,000), following the November 2011 grants. Exercise would add shares and could dilute existing holders.
21 Dec 2011capital raising announcement● NeutralMajor
In December 2011 Aurora settled $218,754.42 of debts owed to Ross Doyle, Global Strategic Synergies Pty Ltd, Coresco AG and Agustin Gomez de Segura by issuing 10,937,721 shares at $0.02. It also sold 8,000,000 units at $0.04 for $320,000 gross to six non-US investors, each unit being one share plus a warrant to buy another share at $0.08 until June 20, 2013, with a commission of up to $25,600. Both steps issue new shares and dilute existing holders. The debt was owed to parties linked to management or the board (inference for Doyle and Global Strategic Synergies; Gomez de Segura is the Chairman per the April 2012 filing).
29 Nov 2011material agreement● Neutral
On November 24, 2011 the board granted five-year options at $0.05 per share under the 2007 Stock Option Plan: 1,250,000 to CEO Lars Pearl, 1,100,000 each to Agustin Gomez de Segura and Ross Doyle, and 200,000 to Luis Mauricio. All vested immediately. Exercise would add shares, so existing holders could be diluted if the options are used.
28 June 2010asset acquisition disposition● Neutral
An amended report repeating the June 2010 Front Range purchase from Global Minerals Ltd.: the definitive agreement was signed June 15, 2010, for $600,000 cash (including $100,000 paid on the November 2009 letter agreement) and 5,000,000 restricted shares. It adds that the property is about 16 km west of Boulder, and that there are no known reserves and no assurance mining can restart. The asset purchase agreement is attached as an exhibit. No new transaction terms.
22 June 2010asset acquisition disposition● NeutralMajor
Aurora Gold completed the purchase of Global Minerals Ltd.'s interest in the Front Range Gold Project in Boulder County, Colorado, a new direction away from Brazil. On June 15, 2010 it signed the formal agreement, paid $600,000 cash (after $100,000 on the November 2009 letter agreement) and issued 5 million shares to Global Minerals. It gets a 50% participating interest in the joint venture, assets of Mount Royale Ventures including a permitted mill and mining equipment, and a 50% interest in the Black Cloud Mine Claim Group. Aurora will provide the capital to resume mining, be the operator, and recoup 100% of its investment from production before profit is shared. The share issue dilutes existing holders.
3 June 2010listing compliance notice▼ Bad
AURORA GOLD CORP withdrew a registration statement, abandoning the offering it covered.
6 Feb 2009listing compliance notice▼ Bad
AURORA GOLD CORP withdrew a registration statement, abandoning the offering it covered.
14 May 2008material agreement● NeutralMajor
Aurora Gold signed a joint venture with Samba Minerals Limited, an Australian company intending to list on the ASX, under which Samba can earn up to 75% of Sao Joao and the adjoining Commandante Araras projects. Samba has also set up a loan facility of A$500,000 for Aurora to complete the study on the Fofoca project (formerly called Molly). Aurora says it will focus on the western extension of Fofoca and the Bigode property. Terms of the loan and what Samba must spend to earn its interest are not given in the filing. The company's address is now in Zug, Switzerland, and it reports 4 properties and 6 applications.
17 Aug 2007drilling result● Neutral
Aurora Gold gave an exploration update: the first deep hole under Molly was completed with the alteration zone continuing to depth, two more holes are planned, and ground geophysics is due in the third quarter of 2007. Rock chips near Sao Domingos assayed up to 17.2 g/t gold (surface samples). The company also cut its holdings to four options (Sao Domingo, Bigode, Sao Joao and Com Ararras) totalling 20,484 hectares, down from the 44,469 hectares and five properties previously described, which answers the earlier question of which properties it keeps. Sao Joao drilling is expected to start in September 2007, and Molly is described as undergoing feasibility studies for a 300,000 tonne/annum processing facility.
5 July 2007capital raising announcement● NeutralMajor
Aurora Gold announced a private placement of 4,000,000 shares at US$0.25 per share, which works out to US$1,000,000 (our arithmetic), half of the US$2,000,000 it had said in April it expected to raise. Proceeds are to complete drilling at Molly and Sao Domingos, finish the first stage of drilling at Sao Joao and for general working capital. New shares dilute existing holders. The release is now signed by Lars Pearl as President, CEO and Director, replacing Klaus Eckhof in that role; the filing gives no explanation.
What it means for a shareholder
4.0m new shares at US$0.250 to raise about US$1.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
30 Apr 2007drilling progress report● Neutral
Aurora Gold announced the start of diamond drilling at Sao Joao, aimed at testing down-dip potential of the high-grade surface vein samples reported in March, so the planned drilling has now begun. It also said it expects to complete a US$2,000,000 private placement within 30 days to fund the programs, and describes Molly as undergoing pre-feasibility studies. No drill results are given, and the placement was only expected, not completed. The property count is now given as 7, versus 5 in March (the filing does not explain the change).
21 Mar 2007drilling result● Neutral
Aurora Gold reported more rock-chip gold assays from other quartz veins at Sao Joao (from 5.43 up to 155.26 g/t), alongside earlier trenching on the main vein of 80m at 30.94 g/t, and said drilling there is scheduled for the second quarter of 2007. It also said it will not continue with the Santa Isabel option because drill intercepts were sub-economic, which ends the Santa Isabel thread (drilling began Nov 2006). The Sao Joao results are surface samples, not drilling; the Molly inferred resource (1,428,000 t at 3.94 g/t, 180,000 oz) is repeated, and the company's confidence in finding more resources is its own view.
15 Feb 2007resource reserve update▲ GoodMajor
Aurora Gold announced a first inferred resource estimate for the Molly target at Sao Domingos: 1,428,000 tonnes at 3.94 g/t gold, about 180,000 ounces, prepared by consultancy Raylar Pty Ltd under the JORC reporting code and based on the first 10 drill holes. 'Inferred' is the lowest confidence category; the company plans to drill closer together during 2007 to raise confidence and is awaiting 7 more holes. Its stated intentions to fast-track Molly to feasibility and production 'in the near future' are the company's own aims, not results.
27 Nov 2006drilling result▲ Good
Aurora Gold announced that drilling has begun on the Santa Isabel property, which had been expected to start in late March 2006, so this resolves that long-open question of timing. No drill results are given; the company only says it is confident drilling will find intersections at depth similar to the surface results.
19 Oct 2006drilling result▲ GoodMajor
Aurora Gold reported first-pass drill results from Sao Domingos, with 2,484m drilled so far and about 70% of results received. Best intercepts were 20m at 2.8 g/t gold at the Molly target, 6m at 7.3 g/t at Molly, 4m at 3.54 g/t at Atacadao and 12.6m at 1.70 g/t at Esmeril; the company says it believes Molly is a new discovery. This follows the first-hole results of July, and Molly's copper grades are still being re-assayed. The company also decided not to exercise its option on Ouro Mil, so that property is dropped. It now describes 5 properties totalling 44,469 hectares, down from the eight it described in June (the filing does not list which five).
11 Aug 2006drilling result▲ Good
Aurora Gold reported more rock-chip results from Sao Joao, with gold from 4.91 to 53.02 g/t in a second set of quartz veins. It says the veins are part of a system traced for about 700m. These are surface samples, not drilling; the 'large stockwork' description is the company's view, and the release carries a note that the grade and tonnage estimate it refers to is not a resource. This continues the Sao Joao sampling reported in March.
17 July 2006drilling progress report▲ GoodMajor
Aurora Gold reported its first drill hole at the Attacadau target on Sao Domingos, which hit gold in three zones: 6m at 1.31 g/t from 29m, 2m at 1.09 g/t from 57m and 8m at 1.19 g/t from 73m. This ends the wait for first drill results at Sao Domingos (drilling started around May 27). The company itself calls this the weakest part of the structure and plans to drill further along strike. It also reported a soil anomaly at Santa Isabel (400m grading over 2 g/t, other assays over 1 g/t) and plans to bring drilling equipment there, so Santa Isabel drilling, expected since March, had still not started.
26 June 2006drilling result● Neutral
Aurora Gold signed a Memorandum of Understanding on the 1,600 hectare Santa Lucia property, 10 km southwest of Santa Isabel, giving it a 90-day review period. If it proceeds, it can earn 100% through payments totalling USD $700,000 (Sep 1, 2006 USD 20k through Sep 1, 2009 USD 500k) with a 1.5% royalty buyable for the Reais equivalent of USD $1,000,000, and it can terminate at any time without owing later payments. The company says this makes eight Tapajos properties, about 54,613 hectares in total, and calls itself the largest property holder in the region (its own claim); recent vein samples assayed 17 to 25.9 g/t gold, which are surface samples, not drilling.
30 May 2006drilling progress report● Neutral
Aurora Gold said the drilling rig has arrived at Sao Domingos and drilling will start the weekend of May 27, 2006. The start was delayed from May 5 and May 18 because of heavy seasonal rains. No drilling results are reported; the company says excavations have uncovered mineralised quartz systems at or near surface and it is confident drilling will find more.
25 Apr 2006drilling result● Neutral
Aurora Gold said drilling at Sao Domingos is scheduled to begin May 5, 2006, to test depth and strike continuity of the Atacadao system (earlier sampling up to 42.56 g/t gold). This follows the 5,000 m drilling contract announced Apr 5, whose start was due late April, so the start has slipped to May 5. The filing gives no drilling results; its view that the property will define large ore bodies is the company's own confidence.
24 Apr 2006drilling result● Neutral
Aurora Gold's Brazilian subsidiary signed a Memorandum of Understanding on the Bigode property in the Tapajos region, next to the southeast of Sao Domingos, giving it a six-month review period. Rock chips ran from 4.74 to 81.9 g/t gold (with silver), and if it proceeds it can earn 100% through payments totalling USD $1,330,000 (Oct 30, 2006 USD 60k through Oct 30, 2010 USD 1,000,000) with a 0.75% royalty buyable for USD $500,000; it can terminate at any time without owing later payments. These are surface samples, not drilling; the belief in a large system is the company's own view. This adds another property to the option pipeline.
12 Apr 2006drilling result▲ GoodMajor
Aurora Gold's Brazilian subsidiary says it has secured the mineral rights over the Branca de Neve property, next to Piranhas (combined holding 24,210 hectares), and reports rock chips of 32.3 to 208 g/t gold. The text describes an MOU/option: payments in Brazilian reais totalling R$675,000 between April 12, 2006 and October 12, 2008 (last R$500,000), a 0.75% royalty buyable for R$500,000, and the right to terminate at any time without owing later payments. The filing's wording is mixed ('secured the mineral rights' versus an MOU still to become an option), so the exact status of the rights is unclear from the text. These are surface samples, not drilling.
5 Apr 2006drilling result▲ GoodMajor
Aurora Gold says it has negotiated a 5,000-metre drilling contract (with an option to extend) on Sao Domingos, with drilling scheduled to start in late April 2006. This is the first drilling contract in the filings and follows the earlier Sao Domingos rock-chip results (up to 42.56 g/t gold); the filing gives no contract cost or contractor name. The earlier plan was for drilling to begin at Santa Isabel in late March; this filing does not mention Santa Isabel.
28 Mar 2006drilling result▲ Good
Aurora Gold reported rock-chip results from Piranhas, the property it signed an MOU on five days earlier, with gold from 3.27 to 37.9 g/t (some with silver), and says the quartz veins can be traced for at least 200m. It plans more mapping and sampling and an airborne survey over Piranhas and its other southern Tapajos properties, with drilling of depth extensions 'in the near future'. These are surface samples, not drilling results; the claim of a 'large gold resource' is the company's own view.
23 Mar 2006material agreement● NeutralMajor
Aurora Gold's Brazilian subsidiary signed a non-binding-style Memorandum of Understanding giving it a 180-day review period on the Piranhas property in the Tapajos region, about 50 km NE of Sao Domingos. If it proceeds, it would sign an option to earn 100% through payments totalling USD $2,000,000 (June 30, 2006 USD 30k; July 21, 2006 USD 70k; July 2007 120k; July 2008 180k; July 21, 2009 USD 1.6M), with a 1.5% royalty to the vendor; it can terminate at any time without owing later payments. The company's view that the property could hold large gold bodies is its own opinion; this adds a third Tapajos property to the option pipeline alongside Sao Domingos and Sao Joao.
17 Mar 2006drilling result▲ Good
Aurora Gold reported rock-chip results from Sao Joao, with gold from 6.93 to 58.6 g/t, and says the quartz veins appear continuous for at least 200m. It plans denser sampling, property-wide soil sampling and airborne surveys, and to drill-test the veins in the near future. These are surface samples; the company's confidence about a larger system is its own view.