20 June 2013listing compliance notice● NeutralMajor
CHINA SHEN ZHOU MINING & RESOURCES, INC.'s exchange filed to remove a class of its securities from listing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 May 2013listing compliance notice▼ BadMajor
On May 17, 2013 NYSE MKT's staff said it would deny the company's request to extend its compliance deadline to October 24, 2013, reject its May 1 late-filer plan, and move to delist the stock, finding the company had not made progress consistent with its plan (accepted Jan 11, 2013). The company does not intend to appeal, and the filing warns there is no assurance a trading market will resume after delisting. This resolves the open question of the October 2012 notice and the April 2013 late-filing notice: the plans failed.
16 May 2013late filing notice▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
22 Apr 2013listing compliance notice▼ BadMajor
On April 17, 2013 NYSE MKT told the company it was out of compliance with listing rules because the 2012 annual report (Form 10-K) was not filed on time, and it must submit a plan by May 1, 2013 to regain compliance by July 16, 2013 or face delisting procedures. The company says the delay is due to ongoing talks with the SEC about how certain mine development costs were accounted for; a possible restatement would reverse about $2,287 thousand of capitalized costs in 2011, turning reported 2011 net income from operations of $2,249 thousand into a net loss from operations of $38 thousand. Preliminary 2012 net loss is estimated at $14,484-17,492 thousand, and the company cannot say when the 10-K will be filed. This adds to the October 2012 NYSE MKT notice.
16 Apr 2013late filing notice▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. amended its notice to the SEC that its annual report would be filed late.
2 Apr 2013late filing notice▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. notified the SEC that its annual report would be filed late.
22 Jan 2013auditor change● Neutral
The company's auditor Sherb & Co. merged into RBSM LLP effective January 1, 2013, so RBSM became the auditor, approved by the board on January 16, 2013. The filing states no disagreements and no adverse opinions; Sherb's report on 2010 financials included a going-concern uncertainty paragraph. The change results from the audit firm's merger, not a dispute.
4 Jan 2013material agreement● Neutral
On December 28, 2012 the company's subsidiary Xingzhen Mining paid about US$4.8M in cash to Jia Xiangfu and Chen Qiaoling, the Xinyi Fluorite sellers, who in return gave up their preferential claim to profits on ore above 500,000 tons. Afterwards all holders' claims on Xinyi's profit depend only on their equity shares. This amends the January 2011 Xinyi purchase terms.
20 Nov 2012quarterly activities report▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $7.5 million and a net loss of $1.5 million for the period ended 2012-09-30.
14 Nov 2012quarterly activities report▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $7.5 million and a net loss of $1.5 million for the period ended 2012-09-30.
7 Nov 2012listing compliance notice▼ BadMajor
On October 24, 2012 NYSE MKT told the company it is below a continued listing standard, based on its June 30, 2012 quarterly report, which covers substantial losses or financial impairment that makes continuing operations questionable. The company must submit a compliance plan by November 30, 2012 to regain compliance by April 24, 2013, or face delisting procedures. The company says it believes it can provide a satisfactory plan. This is a more serious notice than the December 2011 record-date notice.
16 Aug 2012quarterly activities report▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $7.5 million and a net loss of $2.0 million for the period ended 2012-06-30.
14 Aug 2012quarterly activities report▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $7.5 million and a net loss of $2.0 million for the period ended 2012-06-30.
7 Aug 2012material agreement▼ Bad
On August 7, 2012 the company agreed with the preferred-stock investors to change certain payment dates in the Series A preferred terms and to swap their warrants for new ones with a lower exercise price. The filing does not state the new price or dates here (they are in the exhibits). Lowering the price makes the warrants easier to exercise, which could add dilution for existing shareholders (inference).
17 May 2012quarterly activities report▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $1.5 million and a net loss of $3.2 million for the period ended 2012-03-31.
14 May 2012quarterly activities report▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $1.5 million and a net loss of $3.2 million for the period ended 2012-03-31.
2 Apr 2012quarterly activities report▼ Bad
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $1.5 million and a net loss of $3.2 million for the period ended 2012-03-31.
26 Mar 2012securities registration● Neutral
CHINA SHEN ZHOU MINING & RESOURCES, INC. filed a prospectus supplement for a registered offering.
21 Mar 2012material agreement▼ BadMajor
On March 21, 2012 the company agreed to sell up to $10 million of Series A convertible preferred stock with warrants to institutional investors, in two $5M tranches, first closing around March 26, 2012; estimated net proceeds are about $9.35M. The preferred converts at $2.04 and pays 5% dividends, and the warrants cover about 1,960,785 shares at $2.04 for 42 months, so conversion and warrant exercise would dilute existing holders. The press release says the money is meant partly to develop the three Guizhou mining companies bought earlier in 2012; investors waived the restriction from the January 2011 offering.
10 Feb 2012asset acquisition disposition● NeutralMajor
This amended filing restates the Wuchuan deal and adds two more Guizhou purchases made on February 7, 2012: 60% of Guizhou Qianshi Resources Development for RMB 6M (337,457 shares) and 60% of Yanhe Meilan Mining for RMB 9M (506,186 shares), both paid in company stock. With Wuchuan, total new shares to issue are 3,262,091, so shareholders are diluted further. The acquired-company financials are still promised later.
9 Feb 2012capital raising announcement● Neutral
This amendment adds a share-issuance disclosure for the January 2011 Xinyi Fluorite acquisition: 1,074,576 shares were issued on June 29, 2011 and another 1,139,128 on February 7, 2012, totalling 2,213,704 shares to two non-U.S. sellers. The second batch was issued after negotiation with the sellers, as the agreement requires when the stock price has changed. It adds to the share count and settles how the stock part of the Xinyi price was paid.
17 Jan 2012asset acquisition disposition● NeutralMajor
On January 16, 2012 the company, through its Inner Mongolia subsidiary Xiangzhen, bought 60% of Wuchuan Dongsheng Mining (Guizhou) from Gang Liu and Qiang Liu for RMB 93 million (about US$14.65M): RMB 43M in company stock (2,418,448 new shares) and RMB 50M in cash put into Wuchuan as new capital. Wuchuan has fluorite and barite mines and two processing plants; this adds a new Guizhou region alongside the Inner Mongolia, Anhui and Xinjiang interests. The $15M revenue and $4.5M profit for 2012 in the press release are management forecasts, and the required acquired-company financial statements are still to be filed by amendment.
19 Dec 2011listing compliance notice▼ Bad
On December 13, 2011 NYSE Amex told the company it broke a listing rule by not giving the exchange ten days' notice of the record date for its 2011 annual meeting. The company says it did not receive emails about the requirement. The filing mentions no delisting step or deadline.
18 Nov 2011quarterly activities report● Neutral
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $7.1 million and net income of $681 thousand for the period ended 2011-09-30.
14 Nov 2011quarterly activities report● Neutral
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $7.1 million and net income of $681 thousand for the period ended 2011-09-30.
19 Aug 2011quarterly activities report● Neutral
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $9.1 million and net income of $128 thousand for the period ended 2011-06-30.
15 Aug 2011quarterly activities report● Neutral
CHINA SHEN ZHOU MINING & RESOURCES, INC. reported quarterly revenue of $9.1 million and net income of $128 thousand for the period ended 2011-06-30.
14 June 2011director interest notice● Neutral
CHINA SHEN ZHOU MINING & RESOURCES, INC. Vice President Ligang Wang sold 107,900 shares.
13 June 2011substantial holder notice● Neutral
Xiaojing Yu, Xueming Xu reported a CHINA SHEN ZHOU MINING & RESOURCES, INC. shareholding of 14,997,090 shares (48.70% of votes) in a periodic institutional filing.
13 June 2011director interest notice● Neutral
CHINA SHEN ZHOU MINING & RESOURCES, INC. CEO Xiaojing Yu sold 169,910 shares.