19 Jan 2023capital raising announcement▲ Good
Contango raised a smaller amount selling 117,500 shares plus warrants at $20.00/share, continuing its steady pre-production financing pattern.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Apr 2022capital raising announcement▲ GoodMajor
Contango agreed to issue a $20 million unsecured convertible debenture to Queen's Road Capital Investment at 8% interest, convertible at $30.50/share -- new mezzanine financing ahead of the larger ING/Macquarie project debt facility it would arrange the following year to fund Manh Choh construction.
21 June 2021capital raising announcement▲ Good
Contango raised about $11.0 million selling 523,809 shares at $21.00 each to continue funding exploration and development.
What it means for a shareholder
523,809 new shares at US$21.00 to raise about US$11.0m. That's 7.8% dilution: every existing holder's slice gets 7.8% smaller. If you held US$1,000 of shares (48 at the issue price), your slice goes from 0.000774% to 0.000713% of the company. To keep it you'd need 4 more shares - about US$84 at the issue price.
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24 Sept 2020capital raising announcement● NeutralMajor
Contango terminated its 2012 shareholder rights plan early and immediately adopted a fresh one -- a defensive poison-pill refresh coinciding with Royal Gold's sale of its 40% Manh Choh joint-venture stake and Contango shares to Kinross Gold that same month.
26 Oct 2017capital raising announcement▲ Good
Contango raised about $10.5 million selling 553,672 shares at $19.00 each to continue funding its exploration and development program.
What it means for a shareholder
553,672 new shares at US$19.00 to raise about US$10.5m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held US$1,000 of shares (53 at the issue price), your slice goes from 0.00104% to 0.00094% of the company. To keep it you'd need 6 more shares - about US$114 at the issue price.
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25 Mar 2013capital raising announcement▲ GoodMajor
Contango raised about $14.8 million selling stock-and-warrant units to fund its 2013 Alaska exploration program, and separately raised its poison-pill trigger threshold from 15% to 20% ownership.
27 Mar 2012capital raising announcement● Neutral
Contango ORE raised $8.8 million selling 882,500 shares at $10.00 each to fund its 2012 Alaska exploration program and repay short-term debt.