Past year: ▲ 200%(0.11c – 7.70c USD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Sept 2011capital raising announcement▲ GoodMajor
On September 1, 2011 director Angelique de Maison agreed to buy up to 4,200,000 more shares at $1.00 each, on top of the 4,000,000 she had already bought, and bought 757,422 immediately. Either side can end the unbought portion after December 31, 2011. This continues the insider-funded equity raising from March and May.
19 Aug 2011capital raising announcement● NeutralMajor
On August 16, 2011 CEO Juan Carlos Camus exchanged his $1,087,000 convertible note for $130,000 cash, 2,000,000 shares and a new non-convertible $1,000,000 note at 10% interest, due November 1, 2012. This removes the earlier low-price conversion feature, which the press release says leaves no anti-dilution clauses in effect, but the note now bears interest. Three directors (Engelbrecht, de Maison, Ronk) also agreed to vote 10,500,000 shares as Camus directs until December 31, 2013, which adds to his control; he held 39% beforehand.
20 May 2011capital raising announcement▲ Good
On May 19, 2011 the company amended its March agreement with Angelique de Maison, allowing her to buy up to 1,000,000 more shares at $1.00 each (2,000,000 in total). She had bought 981,702 shares already and bought a further 985,960 at signing. Either side can end the unbought portion after September 30, 2011. She held 14.58% beforehand. This continues the insider-funded equity raising.
13 Dec 2010capital raising announcement● NeutralMajor
USD Energy Corp. (the filer; the company that later appears as Casablanca Mining Ltd.) agreed on December 7, 2010 to buy Santa Teresa Minerals, a Chilean gold and copper sulfate miner, for 25,500,000 new shares, replacing the October 25, 2010 acquisition and convertible debt agreements, which were terminated. It also agreed to issue a non-interest convertible note of up to $1,087,000 to Santa Teresa's majority shareholder, Juan Carlos Camus Villegas, due November 1, 2012. Separately, four existing principal shareholders agreed to buy 21,500,000 shares for $1,100,000; 10,750,000 shares ($550,000) were bought on December 7. Closing depended on an audit of Santa Teresa's 2008 and 2009 financials. If completed, Santa Teresa holders would own 51% and the principal shareholders 43%, which means heavy dilution for other shareholders (inference).
