Past year: ▼ 100%(0.00c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Sept 2008capital raising announcement● NeutralMajor
The company signed a standby equity facility letting it sell up to $5,000,000 of shares to YA Global Investments at 95% of the lowest daily average price over five trading days, in advances of up to $250,000. It cannot draw until a registration statement is effective. It issued 1,436,108 shares as a commitment fee and owes other fees. For shareholders, drawing on this would mean issuing more shares.
23 Nov 2007capital raising announcement● Neutral
The company confirmed the closing on November 20, 2007 of both private placements: 7,932,600 units to offshore buyers and 826,000 units to US buyers, at US$0.375 per unit post-split, each with a US$0.50 warrant for two years. This repeats the figures from the earlier filings and closing release.
What it means for a shareholder
826,000 new shares at US$0.375 to raise about US$309,750. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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21 Nov 2007capital raising announcement▲ GoodMajor
The company announced it closed the private placement, issuing 8,758,600 post-split units at US$0.375 for gross proceeds of $3,284,475. Warrants are exercisable at US$0.50 until November 14, 2009. Part of the proceeds repaid certain loans and the rest is for its Silverton properties, working capital and acquiring mineral properties. This completes the placement announced in August.
15 Nov 2007capital raising announcement● NeutralMajor
The company signed subscriptions for the private placement announced in August: 7,932,600 units to 24 offshore investors (US$2,974,725) and 826,000 units to four US investors (US$309,750). Units are priced at US$0.375 after a forward stock split (US$0.75 before), each with a warrant at US$0.50 for two years. It must file a resale registration within 60 days or pay 2% of the purchase price for delays, up to 15%. This adds shares and warrants for existing holders.
30 Aug 2007capital raising announcement● Neutral
The company refiled its August 24, 2007 news release to correct the contact details. The release announced a planned private placement of up to US$3 million at US$0.75 per unit, each unit being one share and one two-year warrant at US$1.00, led by European institutional funds, with proceeds for exploration, mill improvements, repaying short-term debt and general purposes.
