30 Sept 2008director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD sold 89,700 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2008director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD sold 50,000 shares at $0.25.
26 Sept 2008director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD sold 142,000 shares.
25 Sept 2008director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD sold 247,500 shares.
24 Sept 2008director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD sold 196,000 shares.
23 Sept 2008director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD sold 332,000 shares.
22 Sept 2008securities registration● Neutral
Brigus Gold Corp. registered a securities offering with the SEC using its shelf eligibility.
29 Aug 2008material agreement termination● Neutral
This amendment only corrects the lender's name in the August 27, 2008 filing to RMB Australia Holdings Limited (it had said "RMB Resource Inc."). The facts are unchanged: the US$1,654,000 September 2008 instalment was repaid early on August 22, 2008, using US$1,556,000 from unwinding lead and zinc hedges plus US$108,000 of cash, and US$5.1 million is still owed on the July 2008 extension.
27 Aug 2008material agreement termination▲ Good
On August 22, 2008 Apollo paid off the US$1,654,000 September 2008 RMB loan instalment early, using US$1,556,000 gained from unwinding its lead and zinc hedges plus US$108,000 of cash. It still owes US$5.1 million on the July 2008 extension. The filing says the unwind was a debt management decision because the contracts' value was near the amount owed. This reduces the original October 2007 facility to nothing outstanding on its own terms.
26 Aug 2008capital raising announcement▲ GoodMajor
On August 21, 2008 Apollo closed the flow-through placement: 17,000,000 shares at Cdn$0.50, raising Cdn$8.5 million, which is larger than the 14 million shares first announced. The money is for the Black Fox open pit pre-strip and other exploration. Haywood received a Cdn$55,250 commission and options on 1,020,000 shares at Cdn$0.50 for 18 months, and the buyers get resale registration rights. This completes the August 6 announcement.
7 Aug 2008securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
6 Aug 2008capital raising announcement▲ GoodMajor
On August 6, 2008 Apollo announced a bought-deal private placement of 14,000,000 flow-through shares at Cdn$0.50 for Cdn$7 million, plus an over-allotment option for 3,000,000 more (up to Cdn$1.5 million). The money is for the pre-strip of the Black Fox open pit and Canadian exploration spending there, with closing expected around August 21, 2008.
30 July 2008asset acquisition disposition▲ GoodMajor
On July 28, 2008 Apollo completed the Cdn$20 million purchase of St Andrew's Stock Mill complex near Timmins by paying the final Cdn$14.6 million, and it must also refund about Cdn$1.2 million of bonding to St Andrew. About Cdn$14.6 million came from the unit offering that closed July 24, 2008, with St Andrew buying about Cdn$1.2 million of units. The rest came from the RMB loan and working capital. The filing says Apollo weighed the cost and timing of building a new mill for Black Fox against buying this one. This resolves the mill purchase thread.
28 July 2008director interest notice● Neutral
Brigus Gold Corp. director Robert W Babensee bought 60,000 shares on the open market.
28 July 2008director interest notice● Neutral
Brigus Gold Corp. President and CEO Robert David Russell bought 150,000 shares on the open market.
28 July 2008director interest notice● Neutral
Brigus Gold Corp. Vice President and Controller Brent E Timmons bought 60,000 shares on the open market.
28 July 2008director interest notice● Neutral
Brigus Gold Corp. CFO & Sr VP - Fin. & Corp. Dev Melvyn Williams bought 150,000 shares on the open market.
28 July 2008director interest notice● Neutral
Brigus Gold Corp. director David W Peat bought 37,500 shares on the open market.
28 July 2008director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD bought 3,600,000 shares on the open market.
28 July 2008director interest notice● Neutral
Brigus Gold Corp. director Charles E Stott bought 15,000 shares on the open market.
24 July 2008material agreement● Neutral
On July 22-23, 2008 Apollo changed the unit offering so the agents' 6.5% commission is paid only in cash and their options are locked up for 180 days. It also let St Andrew buy up to 2,400,000 units (Cdn$1.2 million) and resell an extra 2,400,000 of its shares. Apollo agreed to pay the remaining Cdn$14.5 million for the Stock Mill within two business days of the offering closing.
23 July 2008securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
23 July 2008securities registration● Neutral
Brigus Gold Corp. filed a free-writing prospectus - marketing material for an offering in progress.
10 July 2008material agreement▲ GoodMajor
On July 9, 2008 Apollo signed an agency agreement with Haywood and Blackmont for a best-efforts public offering of units at Cdn$0.50, each with one share and a half warrant exercisable at Cdn$0.65 for 36 months. The offering has a minimum of Cdn$20 million and a maximum of Cdn$40 million, with proceeds for the St Andrew mill, Black Fox development and working capital. Agents get a 6.5% commission and options on 6% of the units, so this could add materially to the share count.
9 July 2008securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
9 July 2008securities registration● Neutral
Brigus Gold Corp. filed a free-writing prospectus - marketing material for an offering in progress.
2 July 2008securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
2 July 2008material agreement● NeutralMajor
On July 1, 2008 Apollo expanded its RMB facility with an additional US$5.15 million loan, bringing the amount owed to US$6,804,000 (from US$1,654,000). It is mainly to fund the Cdn$4 million Stock Mill payment. The new money costs LIBOR plus 2.0% and is repayable in instalments to June 30, 2009. It is now secured by all assets of MTMI and Apollo, including Black Fox. Apollo pays a US$100,000 fee and issues 650,000 shares to RMB, and hedged about 50% of its Montana Tunnels share of expected output for Q4 2008 and Q1 2009 with gold, silver, lead and zinc collars.
1 July 2008material agreement● NeutralMajor
On June 30, 2008 Apollo and St Andrew amended the mill purchase: the Cdn$18.5 million balance is now due as Cdn$4 million on July 3, Cdn$6 million by July 31 and Cdn$8.5 million by August 29, 2008, with no further extension and 12% interest on the unpaid balance. The final payment may be made partly in shares at Cdn$0.50 if St Andrew stays below 20%. Failure to meet closing conditions would forfeit the payments already made.
11 June 2008material agreement● NeutralMajor
On June 6, 2008 Apollo agreed to buy St Andrew Goldfields' Stock Mill complex near Timmins, Ontario for Cdn$20 million, paying a Cdn$1.5 million deposit now and Cdn$18.5 million at closing, expected June 30, 2008 (extendable to August 29 with 12% interest). St Andrew owned about 17.5% of Apollo, and Apollo also takes on a roughly Cdn$1.2 million bonding commitment. This is a new step in developing Black Fox; the filing does not say how the balance will be funded.