Past year: ▼ 37%(36.0c – 70.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Feb 2008resource reserve update● NeutralMajor
Canyon announced results of a new feasibility study on its Reward Gold Project near Beatty, Nevada, and filed a consent from Chlumsky, Armbrust & Meyer, LLC. The filing text itself gives no study results, costs or gold figures; those are only in the press release exhibit, whose content is not shown here.
25 May 2007resource reserve update● Neutral
Canyon reported closing a private placement of warrants for $4.95 million gross, with Kuhns Brothers as broker. This brief notice gives no resource or reserve information despite the filing's label; details came in the amendment days later.
5 Aug 2005resource reserve update● NeutralMajor
Canyon said it will not exercise its option, signed in January 2005 with Vista Gold Corp., to buy the Hycroft Mine near Winnemucca, Nevada for $4.0 million cash plus $6.0 million in Canyon equity units. It spent $0.6 million on the work program (33 holes, 12,475 feet, plus engineering and cost estimates), against a $0.5 million commitment, and based its decision on the resulting study-level plans and costs. The filing does not give the reason for declining.
10 June 2005resource reserve update● Neutral
Filed to furnish a June 8, 2005 press release (PR05-10) and a judgment of the Montana Supreme Court as exhibits. The filing text does not say what the judgment decided or which case it concerns; given the McDonald project's I-137 litigation this may relate, but that is an inference only.
24 Jan 2005resource reserve update● Neutral
Filed only to furnish a January 24, 2005 press release (PR05-02) as an exhibit. The filing text does not describe what the release says, so no substance can be taken from it.
30 Sept 2004resource reserve update● Neutral
Filed only to furnish a September 30, 2004 press release (PR04-19) as an exhibit. The filing text does not describe what the release says, so no substance can be taken from it.
23 Aug 2004resource reserve update▼ BadMajor
Canyon said it could not file its quarterly report on time because it is re-examining whether its impairment model for the Briggs Mine assets is appropriate. This is the start of the accounting problems that follow.
10 Mar 2004resource reserve update● NeutralMajor
Canyon agreed to sell 3,202,593 common shares to several investors at $4.37 per share, for gross proceeds of about $13,995,331, off its effective shelf registration. Proceeds are for general corporate purposes, and shares outstanding rise from 26,131,956 to 29,334,549 (about 12% more shares). This is the sale the previous day's filing set up.
9 Mar 2004resource reserve update● Neutral
Filed only to put a proposed form of common stock subscription and investment agreement on record for the company's effective Form S-3 shelf registration (prospectus dated January 29, 2004). It reports no sale or financial figures.
7 Oct 2003resource reserve update● NeutralMajor
Canyon announced a completed pre-feasibility study and redesign of the McDonald Gold Project, which remains blocked by the I-137 anti-mining initiative. At a $350/oz gold price the study projects 6.22 million ounces of gold and 18.7 million ounces of silver over 14 years at total cash costs of $188 per gold ounce. Development still depends on I-137 being removed, which follows the December 2002 court loss.
11 Mar 2003resource reserve update▲ GoodMajor
Canyon announced it completed a $3,299,000 convertible debenture financing, and that its Briggs Mine debt has been fully paid off. The board also extended the exercise period for 1,602,860 warrants (sold with stock in the March-April 2002 private placement) to September 30, 2003.
12 Dec 2002resource reserve update▼ BadMajor
A Montana state court granted the State summary judgment on all remaining claims in Canyon's and the Seven-Up Pete Venture's lawsuit seeking to overturn the I-137 anti-mining initiative or win damages for properties taken. The court also upheld the termination of the Seven-Up Pete Venture's state mineral leases. This is a loss for the company in that case.
9 Oct 2001resource reserve update● NeutralMajor
Canyon and Franco-Nevada Mining Corporation signed an agreement (effective April 1, 2001) giving Canyon a 2% net smelter returns royalty on the first 175,000 ounces of gold from its Briggs Mine. In exchange Canyon issued 1,050,000 unregistered common shares and gave Franco-Nevada an additional 1% royalty on Briggs gold above 175,000 ounces. Franco-Nevada can undo the deal if the shares are not registered by March 31, 2002, or if Canyon issues stock beyond 15% of its shares outstanding as of September 27, 2001 before the earlier of 30 days after registration or July 1, 2002.
