Past year: ▼ 9%(0.00c – 0.38c USD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Mar 2007resource reserve update▲ GoodMajor
Olympus updated the Phuoc Son resource to 209,500 ounces Measured and Indicated (about a 42% increase) plus 94,750 ounces Inferred, delivering the update promised in the February 22 release. It also gave a conceptual, non-compliant estimate of 190,000 to 210,000 ounces for the northern extension, and said a Bong Mieu resource update should follow in 4 to 6 weeks.
26 Feb 2007capital raising announcement● NeutralMajor
Olympus announced a non-brokered private placement of up to 21,428,571 shares at C$0.56 each, raising up to C$12 million, with closing expected around March 19, 2007. Proceeds are meant for exploration, feasibility studies, development work and general corporate purposes; new shares would dilute existing holders (inference).
What it means for a shareholder
21.4m new shares at C$0.560 to raise about C$12.0m. 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.
22 Feb 2007drilling result▲ GoodMajor
Hole 210 at Phuoc Son, a 300 m step-out from hole 209, returned 12.24 g/t gold over 1.95 m, taking the defined mineralized length to about 900 m, still open. Olympus says it has finished a feasibility study for a second gold processing plant in Vietnam (under independent NI 43-101 review, based on the pre-drilling resource), expects a resource update within about two weeks, and is adding drill rigs.
14 Feb 2007business combination● NeutralMajor
The boards of Olympus and Zedex Minerals (ASX: ZDX) withdrew their support for Olympus's planned all-equity takeover offer for Zedex, first announced on November 24, 2006. They said major shareholders of both companies preferred to develop their projects separately, so the deal is off.
9 Feb 2007drilling result▲ Good
Olympus Pacific Minerals (the filer, shown as Besra Gold in this record) reported new drill results at its 85%-owned Phuoc Son gold property in central Vietnam, including 6.94 g/t gold over 8.01 metres in hole 209. The mineralized zone now has a defined length of about 600 m and is still open, and the company says it will keep step-out drilling.
