Past year: ▲ 54%(42.0c – 71.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Aug 2025capital raising announcement▲ GoodMajor
Raised C$4.0 million split evenly between charity flow-through shares at C$0.43 and ordinary shares at C$0.39, issuing 9,779,368 shares in total. Prices are the highest of any raise in the cached record, three weeks after the feasibility study.
4 Mar 2025capital raising announcement▲ Good
Closed a C$3.22 million charity flow-through financing, 9,200,000 shares at C$0.35, for Canadian exploration spending at New Polaris. A third higher per share than the C$0.2625 Sun Valley paid a year earlier.
What it means for a shareholder
9.2m new shares at C$0.350 to raise about C$3.2m. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held C$1,000 of shares (2,857 at the issue price), your slice goes from 0.00147% to 0.00141% of the company. To keep it you'd need 136 more shares - about C$48 at the issue price.
Create a free account to see this worked out for your own holding.
29 Mar 2024capital raising announcement● NeutralMajor
Closed a C$4.12 million charity flow-through financing entirely with Sun Valley Investments - 15,700,000 shares at C$0.2625 - for New Polaris exploration. Sun Valley is now not just the largest holder but the sole source of this round.
What it means for a shareholder
15.7m new shares at C$0.2625 to raise about C$4.1m. That's 9.0% dilution: every existing holder's slice gets 9.0% smaller. If you held C$1,000 of shares (3,810 at the issue price), your slice goes from 0.00241% to 0.00219% of the company. To keep it you'd need 379 more shares - about C$99 at the issue price.
Create a free account to see this worked out for your own holding.
31 July 2023capital raising announcement● NeutralMajor
Raised C$4.41 million issuing 21,000,000 shares at C$0.21, with two insiders among the subscribers. The price is 20% above the C$0.175 rights offering seven months earlier but a fraction of the C$0.50 flow-through price of late 2021.
What it means for a shareholder
21.0m new shares at C$0.210 to raise about C$4.4m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held C$1,000 of shares (4,762 at the issue price), your slice goes from 0.00577% to 0.0046% of the company. To keep it you'd need 1,212 more shares - about C$255 at the issue price.
Create a free account to see this worked out for your own holding.
19 Dec 2022capital raising announcement● NeutralMajor
The rights offering closed fully subscribed but only because of the backstop: shareholders took 25,277,221 shares at C$0.175 for C$4.42 million, a 55% take-up, and Sun Valley absorbed the remaining 20,352,577 shares under its standby guarantee. Sun Valley therefore financed nearly half of it and moved further above the 20% control threshold shareholders had approved in October.
What it means for a shareholder
25.3m new shares at C$0.175 to raise about C$4.4m. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held C$1,000 of shares (5,714 at the issue price), your slice goes from 0.00693% to 0.0053% of the company. To keep it you'd need 1,751 more shares - about C$306 at the issue price.
Create a free account to see this worked out for your own holding.
9 Nov 2022capital raising announcement● Neutral
The exhibit filed here is the rights offering standby guaranty agreement with Sun Valley, but the cached copy contains no readable text - only empty table cells. The agreement's terms cannot be read from this filing; the 28 October and 7 November releases describe it.
7 Nov 2022capital raising announcement● Neutral
Filed the rights offering circular: one right per share held at the 10 November record date, every two rights buying one share at C$0.175, to raise C$7,985,215. Sun Valley is disclosed as an insider and related party standing behind it.
31 Oct 2022capital raising announcement● NeutralMajor
Launched a rights offering to all shareholders rather than a placement, positioned as the fairest way to fund the feasibility study and permitting. Sun Valley, now an insider, is providing a standby guarantee - which means whatever ordinary shareholders do not take up, Sun Valley does, and its stake rises accordingly.
20 Oct 2022capital raising announcement● NeutralMajor
Two things in one release. Shareholders at the special meeting approved, by 97.5% of the 20% of shares voted, letting Sun Valley Investments go above 20% of the company - formally creating a new control person out of the shareholder who had run the proxy fight three months earlier. The C$1.5 million charity flow-through financing announced on 1 September closed alongside it.
19 Jan 2022capital raising announcement● Neutral
Closed the second and final tranche of the flow-through placement at C$2.03 million on 4.05 million shares at C$0.50, taking the oversubscribed raise to C$2.3 million.
What it means for a shareholder
4.0m new shares at C$0.500 to raise about C$2.0m. That's 5.5% dilution: every existing holder's slice gets 5.5% smaller. If you held C$1,000 of shares (2,000 at the issue price), your slice goes from 0.00285% to 0.00269% of the company. To keep it you'd need 115 more shares - about C$58 at the issue price.
Create a free account to see this worked out for your own holding.
22 Dec 2021capital raising announcement● Neutral
Announced a non-brokered flow-through placement of up to 4 million shares at C$0.50 for up to C$2.0 million, in two tranches.
What it means for a shareholder
4.0m new shares at C$0.500 to raise about C$2.0m. That's 5.4% dilution: every existing holder's slice gets 5.4% smaller. If you held C$1,000 of shares (2,000 at the issue price), your slice goes from 0.00285% to 0.00269% of the company. To keep it you'd need 114 more shares - about C$57 at the issue price.
Create a free account to see this worked out for your own holding.
28 Oct 2021capital raising announcement▲ Good
The flow-through placement closed oversubscribed at C$5.3 million against the C$5.0 million sought, issuing 10.6 million shares at C$0.50.
What it means for a shareholder
10.6m new shares at C$0.500 to raise about C$5.3m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held C$1,000 of shares (2,000 at the issue price), your slice goes from 0.00285% to 0.00247% of the company. To keep it you'd need 302 more shares - about C$151 at the issue price.
Create a free account to see this worked out for your own holding.
24 Sept 2021capital raising announcement▲ Good
Announced a brokered flow-through placement of up to C$5.0 million through Red Cloud at C$0.50 a share - more than six times the C$0.08 unit price of the 2020 raise, on a post-consolidation basis - to fund New Polaris drilling.
16 Nov 2020capital raising announcement▲ GoodMajor
Closed the second and final C$5.2 million tranche - 65 million units at C$0.08 - completing the C$8.4 million raise, with Eric Sprott as lead investor and Chairman Bradford Cooke taking 2.0 million units on top of 3.0 million in the first tranche to hold his roughly 4% stake. The company issued 105 million units in total at eight cents, a very heavy dilution, but it now has money for New Polaris.
21 Oct 2020capital raising announcement● Neutral
Shareholders approved upsizing the placement from C$3.2 million to C$8.4 million by adding 65 million units at C$0.08, and disinterested holders separately approved 5.4 million of those units going to insiders for C$432,000.
8 Oct 2020capital raising announcement● NeutralMajor
Closed the first C$3.2 million tranche of a private placement: 40 million units at C$0.08, each unit one share plus half a warrant exercisable at C$0.13 for two years, accelerable if the shares trade at C$0.20 for ten days. Eight cents a unit is the price at which this company could raise money in 2020.
