8 Feb 2007director interest notice● Neutral
Brigus Gold Corp. director David W Peat received a stock option grant for 70,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Feb 2007director interest notice● Neutral
Brigus Gold Corp. director Robert W Babensee received a stock option grant for 70,000 shares.
6 Feb 2007director interest notice● Neutral
St Andrew Goldfields LTD became a Brigus Gold Corp. 10%+ owner and company insider (initial ownership filing).
6 Feb 2007director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD bought 1,057,900 shares on the open market.
6 Feb 2007director interest notice● Neutral
Brigus Gold Corp. 10%+ owner St Andrew Goldfields LTD bought 2,254,000 shares on the open market.
19 Jan 2007security holder rights change● Neutral
On January 17, 2007 the board adopted a shareholder rights plan, with one right issued per common share. If anyone acquires 20% or more of the shares (outside a permitted bid), other holders can buy shares at half market price, which heavily dilutes the acquirer. The filing says it was not adopted in response to any takeover proposal, and it runs to January 17, 2012 unless ended earlier. This is a takeover defence that gives the board more time to consider an unsolicited bid; it does not change the shares themselves unless triggered.
9 Jan 2007material agreement● NeutralMajor
On December 31, 2006 Apollo's Montana Tunnels subsidiary amended its joint venture with Elkhorn Tunnels. Elkhorn signed a promissory note for the unfunded part of its US$13 million contribution (about US$3.7 million at December 31) and committed to pay it in cash by January 17, 2007; delivering the note earned Elkhorn its 50% interest in the mine. The note carries 24% interest if unpaid after January 17, and if not fully paid by February 17, 2007 Elkhorn loses its disproportionate share of cash flow. The press release says Elkhorn had contributed US$11.0 million by January 4, leaving US$2 million due, and that mill start-up is estimated for late February or early March 2007. This continues the open question of whether Elkhorn completes its funding; half the mine is now Elkhorn's, with payment still outstanding.
7 Dec 2006debt financing● Neutral
On December 1, 2006 Apollo refinanced the US$2.64 million Great American truck note with an 18-month equipment lease from Marquette Equipment Finance, total cost US$2.3 million, at US$125,143 per month. At the end of the term Apollo can buy the four trucks for 15% to 30% of US$2.3 million (no more than 25% if all payments are made). Apollo also granted Marquette a security interest in seven other CAT 785 haul trucks. This replaces the August note, which was due December 1, 2006.
13 Nov 2006material agreement▲ GoodMajor
Apollo Gold completed the 16,688,206-unit offering at US$0.30 on November 8, 2006, as announced in October, for roughly US$5 million gross. Each unit has one share and a half warrant at US$0.50 for three years; Shoreline Pacific was placement agent. This resolves the open US offering and adds shares and warrants to the count.
1 Nov 2006securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
1 Nov 2006material agreement● NeutralMajor
On October 30, 2006 Apollo Gold closed a Cdn$1 million flow-through placement (2,222,221 units at Cdn$0.45) for Black Fox exploration. It also agreed to sell 16,688,206 US units at US$0.30, each with a half warrant at US$0.50 for three years, expected to close around November 15, 2006. US unit proceeds are for Black Fox development, Huizopa exploration and working capital. The US warrants have a full-ratchet clause, so selling shares or options below US$0.50 would cut their exercise price, and the company agreed not to issue common shares for 90 days after closing. The filing says the deal adds new shares and warrants, so existing holders are diluted.
24 Oct 2006securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
19 Sept 2006securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
28 Aug 2006director interest notice● Neutral
Brigus Gold Corp. President & CEO Robert David Russell received a stock option grant for 81,000 shares.
11 Aug 2006director interest notice● Neutral
Brigus Gold Corp. President & CEO Robert David Russell received a stock option grant for 81,000 shares.
11 Aug 2006director interest notice● Neutral
Brigus Gold Corp. CFO & Sr VP-Fin. & Corp Dev, Melvyn Williams received a stock option grant for 27,000 shares.
2 Aug 2006debt financing● NeutralMajor
On July 28, 2006 Apollo's subsidiary agreed a joint venture on the Montana Tunnels mine with Elkhorn Tunnels, LLC (a Calim Private Equity affiliate). Elkhorn is to put in US$13 million over five months, mainly to fix the east wall instability that suspended mining on October 21, 2005, and earns a 50% interest once fully paid. Apollo also gave Elkhorn Goldfields a two-year option to buy the Diamond Hill mine for US$0.8 million and a two-year option to buy the Diamond Hill mill for US$1 million, plus a milling agreement. Separately, on August 1, 2006 the subsidiary issued a US$2.64 million note to Great American Group at 1.5% per month, maturing December 1, 2006, to buy four haul trucks. This gives Apollo partial outside funding for the Montana Tunnels restart but gives up half the mine if Elkhorn completes its contribution.
15 June 2006director interest notice● Neutral
Brigus Gold Corp. director Robert W Babensee bought 30,000 shares on the open market at $0.43.
31 May 2006material agreement● Neutral
Shareholders approved an amended stock option plan on May 24, 2006. Options are capped at the lesser of 10% of issued shares or 12,139,686 shares (the old plan allowed 4,805,904), option grants to insiders are limited to 750,000 per year, and the plan must be re-approved every three years. The larger cap means more potential dilution from options.
26 May 2006director interest notice● Neutral
Kaiser Marvin K became a Brigus Gold Corp. director and company insider (initial ownership filing).
26 May 2006director interest notice● Neutral
Brigus Gold Corp. director Kaiser Marvin K received a stock option grant for 100,000 shares.
25 May 2006director interest notice● Neutral
David W Peat became a Brigus Gold Corp. director and company insider (initial ownership filing).
25 May 2006director interest notice● Neutral
Brigus Gold Corp. director David W Peat received a stock option grant for 100,000 shares.
16 May 2006securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
30 Mar 2006director interest notice● Neutral
Brigus Gold Corp. CFO & Sr VP-Fin. & Corp. Dev, Melvyn Williams received a stock option grant for 125,000 shares.
27 Feb 2006securities registration● Neutral
Brigus Gold Corp. filed a prospectus supplement for an offering off its existing shelf.
24 Feb 2006debt financing● Neutral
Apollo Gold signed the Severance Agreement and Release with each of the four departing executives (Miller, O'Neil, Young, Vagstad) as of February 18, 2006. This completes the severance arrangements announced in January. The filing gives no new amounts.
15 Feb 2006securities registration● Neutral
Brigus Gold Corp. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
15 Feb 2006securities registration● Neutral
Brigus Gold Corp. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
15 Feb 2006securities registration● Neutral
Brigus Gold Corp. registered a securities offering with the SEC using its shelf eligibility.