Past year: ▲ 68%(44.34 – 74.27 USD)
Each one in plain English, with the numbers worked through for a shareholder.
2 May 2011capital raising announcement● Neutral
This amendment restates the March 8 report to correct the placement agent warrants: 2,217,996 for the March 4 offering (previously 1,159,000) and 4,949,990 for the earlier offerings (previously 5,349,990). The units sold, prices and fees are unchanged; the correction is to the number of warrants issued to placement agents.
23 Mar 2011capital raising announcement● NeutralMajor
On March 17, 2011 the company bought 75.67774% of the membership interests in Secure Energy LLC, a North Dakota company holding uranium leases and an exploration data package, from Prospect Uranium Inc. and Gordon Haworth. It paid $60,000 cash, assumed about $80,000 of obligations, and issued 3,700,000 restricted shares (2,725,000 to Prospect, 975,000 to Haworth) under a 24-month lockup with limited quarterly sales. This is the Prospect Uranium North Dakota data acquisition mentioned in the March press release, now completed, and adds to the company's uranium holdings.
8 Mar 2011capital raising announcement● NeutralMajor
On March 4, 2011 the company sold another 11,689,980 units at $0.50 for $5,844,990, each a share plus a five-year $0.50 warrant, bringing the offering to about $18 million including the $12,225,391.50 from earlier closings (the company's press release says approximately $18 million). It paid placement fees of $584,500 plus warrants for 1,159,000 shares (a figure later corrected, see the May 2 amendment). It must file a resale registration statement within 60 days, with cash penalties of 1% a month up to 6% for delays. This completes the financing begun in December 2010 and adds further shares and warrants outstanding; the press release lists intended uses including the Coso, Blythe and Artillery Peak projects and the pending Arizona, American Nuclear Resources and Prospect Uranium deals, which remain subject to due diligence and definitive documents.
What it means for a shareholder
11.7m new shares at $0.500 to raise about $5.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 Feb 2011capital raising announcement● NeutralMajor
On February 28, 2011 the company sold another 7,990,000 units at $0.50 for $3,995,000, each with a share and a five-year $0.50 warrant. It paid placement fees of $399,514.60 plus warrants for 1,718,000 shares. The filing states earlier closings in this offering totalled 16,460,783 units for $8,230,391.50, so the offering now stands at about $12.2 million, with much more dilution from shares and warrants.
What it means for a shareholder
8.0m new shares at $0.500 to raise about $4.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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23 Feb 2011capital raising announcement● NeutralMajor
On February 18, 2011 the company sold a further 12,159,950 units at $0.50 for $6,079,975, each with a share and a five-year $0.50 warrant, continuing the financing begun in December 2010. It paid placement fees of $400,497.50 plus warrants for 2,431,990 shares. It must file a resale registration statement within 60 days, with cash penalties for delays.
What it means for a shareholder
12.2m new shares at $0.500 to raise about $6.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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5 Jan 2011capital raising announcement● NeutralMajor
On December 29, 2010 the company sold 4,000,000 units at $0.50 for $2,000,000, each unit being one share plus a five-year $0.50 warrant. Bridge notes of $50,000 plus interest converted into 100,833 more units. It paid placement fees of $200,000 plus warrants for 800,000 shares and must register the shares for resale. This is the larger financing that the earlier bridge notes were designed to convert into, and it adds to the shares and warrants outstanding.
21 Dec 2010capital raising announcement● Neutral
The company raised small amounts of money in late 2010: $50,000 of 10% secured convertible bridge notes on October 15 and another $50,000 on December 3, convertible at $1.00 per share. On December 3 it also sold $100,000 of units at $0.50 each (one share plus a five-year warrant at $0.50), half bought by President Joshua Bleak. It also issued 25,000 shares to each holder of $50,000 notes.
