Past year: ▲ 0%(0.01c – 0.35c USD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Dec 2008material agreement● NeutralMajor
Effective October 31, 2008 the company agreed to sell its 100% Nyinahin concession in Ghana (acquired in March 2007) to Sunergy Inc. for $1,000,000: $500,000 cash ($50,000 within 5 days, $200,000 by December 31, 2008, $250,000 by April 30, 2009) plus 2,000,000 Sunergy shares valued at $0.25. The company keeps a 5% net smelter return. This reverses the Ghana move made in 2007.
27 Oct 2008capital raising announcement▼ Bad
This lists share issues from July to October 2008: units at $0.15 and $0.10 raising small sums ($1,200 to $35,100), 170,000 shares as interest and an inducement for a loan, 521,000 shares for services, and 2,665,000 and 1,579,000 shares to consultants under a June 16, 2008 registration statement. Much of the issuance is for services and loan terms rather than cash. The filing shows a loan exists but gives no terms.
30 July 2008late filing notice▼ Bad
Cibolan Gold Corp notified the SEC that its annual report would be filed late.
18 June 2008capital raising announcement▼ Bad
This lists many share issues from March to June 2008: units at $0.10 and $0.20, shares at $0.05-$0.06 in private placements, warrant exercises at $0.05-$0.125, and shares for services. The individual amounts raised are small, mostly $1,663 to $54,000. The company's address is now 615 Sierra Rose Drive, Reno. Shares were being sold at $0.05, well below the 2007 placement prices, so dilution is heavier per dollar raised (inference from the stated prices).
16 Apr 2008capital raising announcement▼ Bad
On April 8, 2008 the company issued 2,000,000 shares and 2,000,000 warrants ($0.25, 24 months) as pay for services to consultants and to officers and directors Larry Bigler, David Salari, Stephen Parent and Daniel Forbush. No cash was raised, and the new shares dilute existing holders.
7 Mar 2008material agreement● NeutralMajor
On February 29, 2008 the company agreed with 635239 B.C. Ltd. to buy 100% of certain mineral claims in the Bannockburn Gold Property and rights to the Lloyd Patent in Madoc Township, Ontario, for $140,000 cash in instalments plus 700,000 shares and 700,000 warrants at $0.20 for two years. Missing the $75,000 payment due June 15, 2008 would rescind the deal. This is a new Ontario property alongside the Nevada and Ghana ones.
6 Nov 2007capital raising announcement● NeutralMajor
The company closed a placement of 2,503,000 units at $0.20 on October 31, 2007, raising $500,600 from 20 accredited investors; each unit has one share and a $0.25 warrant. The company says the money is to continue Phase 1 drilling at the Independence Mine. This is the largest raise in this batch and it dilutes existing holders.
What it means for a shareholder
2.5m new shares at $0.200 to raise about $500,600. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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17 Sept 2007late filing notice▼ Bad
Cibolan Gold Corp notified the SEC that its quarterly report would be filed late.
28 Aug 2007capital raising announcement● Neutral
This amendment repeats the August 3, 2007 filing and corrects the warrant exercise price on the 216,000-unit placement from $0.025 to $0.25. The other figures are unchanged (52,470 shares for $6,558.75; $43,200 raised).
21 Aug 2007capital raising announcement● Neutral
On August 3, 2007 the company issued 52,470 shares on warrant exercises for $6,558.75 and closed a placement of 216,000 units at $0.20 for $43,200. The warrants are stated here with a $0.025 exercise price, which a later amendment corrected.
What it means for a shareholder
216,000 new shares at $0.200 to raise about $43,200. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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31 May 2007capital raising announcement● Neutral
This repeats the April 30 and May 17 placements and adds that, in May 2007, warrant holders exercised warrants for 3,064,532 shares ($267,340), 597,333 shares ($79,925) and 90,000 shares ($18,000). Bonus warrants at $0.25 (to April 30, 2008) were issued: 260,000, 265,000 and 90,000. A further 160,000 units were sold on May 30 for $25,000 and 'certain assets'. Cash came in but more shares and warrants are outstanding.
29 May 2007director interest notice● Neutral
Cibolan Gold Corp director David J Salari sold 50,000 shares at $0.31.
25 May 2007director interest notice● Neutral
Cibolan Gold Corp President & CEO Steve Parent bought 31,500 shares on the open market.
18 May 2007capital raising announcement● Neutral
Two small private placements closed at $0.25 per unit (two shares plus one $0.125 warrant): 165,200 units for $41,300 on April 30, 2007 and 18,000 units for $4,500 on May 17, 2007. This is small additional dilution. The filing does not state the use of funds.
17 May 2007director interest notice● Neutral
Cibolan Gold Corp President & CEO Steve Parent bought 57,000 shares on the open market.
17 May 2007director interest notice● Neutral
Cibolan Gold Corp President & CEO Steve Parent bought 48,850 shares on the open market.
17 May 2007director interest notice● Neutral
Cibolan Gold Corp President & CEO Steve Parent bought 40,000 shares on the open market.
8 May 2007director interest notice● Neutral
Cibolan Gold Corp director David J Salari sold 50,000 shares.
7 May 2007director interest notice● Neutral
Cibolan Gold Corp President & CEO Steve Parent sold 25,000 shares.
2 May 2007director interest notice● Neutral
Cibolan Gold Corp director David J Salari sold 83,000 shares.
25 Apr 2007director interest notice● Neutral
Cibolan Gold Corp director David J Salari sold 20,000 shares at $0.20.
23 Apr 2007capital raising announcement● NeutralMajor
The company closed a private placement of 1,060,000 units at $0.25 for $265,000 on April 23, 2007; each unit has two shares and one warrant at $0.125. Canaccord Capital was paid $26,500 and 106,000 agent warrants. The release says proceeds fund the first part of Phase 1 drilling at the Independence Mine (Phase 1 budget $1,350,000) and the 8-K also says general corporate purposes. This answers the open question on the use of 2007 placement proceeds, and existing holders are diluted.
What it means for a shareholder
1.1m new shares at $0.250 to raise about $265,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 Apr 2007director interest notice● Neutral
Cibolan Gold Corp director David J Salari sold 75,000 shares.
13 Apr 2007director interest notice● Neutral
Cibolan Gold Corp director David J Salari sold 22,000 shares at $0.13.
10 Apr 2007director interest notice● Neutral
Daniel J Forbush became a Cibolan Gold Corp CFO and company insider (initial ownership filing).
22 Mar 2007capital raising announcement● NeutralMajor
On March 15, 2007 the company agreed with Sanibel Investments Ltd. to buy all of Mikite Gold Resources Ltd., a Ghanaian company that holds the rights to the Nyinahin concession in Ghana, paying 1,000,000 shares and 1,000,000 warrants (exercise price $0.26, 2 years). This adds a Ghana exploration property to the Nevada Independence property and dilutes existing holders. It also issued 133,000 units at $0.075 under a consulting agreement.
What it means for a shareholder
133,000 new shares at $0.075 to raise about $9,975. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 Mar 2007late filing notice▼ Bad
Cibolan Gold Corp notified the SEC that its quarterly report would be filed late.
9 Mar 2007capital raising announcement● NeutralMajor
The company closed several private placements in February and March 2007. The largest was 3,893,996 units at $0.075 for $292,050, and another was 544,000 units at $0.125 for $68,000. A smaller one was 349,541 units at $0.075 for $11,215.58 plus 'certain assets'. It also issued 200,000 shares to settle debt and 100,000 units for services. Each unit includes a warrant or half-warrant, so existing holders are diluted. The filing does not state how the money will be used.
15 Dec 2006late filing notice▼ Bad
Cibolan Gold Corp notified the SEC that its quarterly report would be filed late.
21 Nov 2006substantial holder notice● Neutral
STEPHEN PARENT reported a Cibolan Gold Corp shareholding of 5,987,305 shares (9.23% of votes) in a periodic institutional filing.
