12 Apr 2016quarterly activities report▼ Bad
Corvus Gold ULC reported a quarterly net loss of $1.5 million for the period ended 2016-02-29.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Mar 2016capital raising announcement● NeutralMajor
Corvus closed a Cdn$3,430,000 private placement of 4,900,000 shares at Cdn$0.70 each (no warrants), with Tocqueville Gold Fund and AngloGold Ashanti (U.S.A.) Exploration among the participants. The company says there is no change of control and that it supports continued exploration; the new shares dilute existing holders. The price is higher than the Cdn$0.47 in the September 2015 placement but below the Cdn$1.00 of February 2015.
What it means for a shareholder
4.9m new shares at C$0.700 to raise about C$3.4m. That's 5.5% dilution: every existing holder's slice gets 5.5% smaller. If you held C$1,000 of shares (1,429 at the issue price), your slice goes from 0.00169% to 0.0016% of the company. To keep it you'd need 83 more shares - about C$58 at the issue price.
Create a free account to see this worked out for your own holding.
13 Jan 2016quarterly activities report▼ Bad
Corvus Gold ULC reported a quarterly net loss of $2.6 million for the period ended 2015-11-30.
7 Jan 2016director interest notice● Neutral
Corvus Gold ULC VP - BUSINESS DEVELOPMENT Quentin Mai disposed of 11,000 shares via option/appreciation-right settlement.
5 Jan 2016director interest notice● Neutral
Corvus Gold ULC VP - BUSINESS DEVELOPMENT Quentin Mai disposed of 27,000 shares via option/appreciation-right settlement.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC CHIEF FINANCIAL OFFICER (CFO) Peggy Wu received a stock option grant for 125,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC CEO & PRESIDENT Jeffrey A Pontius received a stock option grant for 250,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC VP - BUSINESS DEVELOPMENT Quentin Mai received a stock option grant for 100,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC CHAIRMAN OF THE BOARD Catherine Gignac received a stock option grant for 75,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC director Steven K. Aaker received a stock option grant for 50,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC CHIEF OPERATING OFFICER (COO) Carl Brechtel received a stock option grant for 125,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC director Anton J Drescher received a stock option grant for 75,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC director Ed Yarrow received a stock option grant for 50,000 shares.
16 Nov 2015director interest notice● Neutral
Corvus Gold ULC director Rowland Perkins received a stock option grant for 75,000 shares.
9 Oct 2015quarterly activities report▼ Bad
Corvus Gold ULC reported a quarterly net loss of $1.8 million for the period ended 2015-08-31.
15 Sept 2015agm notice● Neutral
Corvus Gold ULC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
14 Sept 2015securities registration● Neutral
Corvus Gold ULC filed notice of an exempt private placement.
11 Sept 2015director interest notice● Neutral
Corvus Gold ULC CHAIRMAN OF THE BOARD Catherine Gignac received a stock option grant for 50,000 shares.
11 Sept 2015director interest notice● Neutral
Corvus Gold ULC director Ed Yarrow received a stock option grant for 50,000 shares.
10 Sept 2015director interest notice● Neutral
Corvus Gold ULC VP - BUSINESS DEVELOPMENT Quentin Mai received a stock option grant for 45,000 shares.
10 Sept 2015director interest notice● Neutral
Corvus Gold ULC director Steven K. Aaker received a stock option grant for 50,000 shares.
10 Sept 2015director interest notice● Neutral
Corvus Gold ULC director Rowland Perkins received a stock option grant for 50,000 shares.
10 Sept 2015director interest notice● Neutral
Corvus Gold ULC CHIEF FINANCIAL OFFICER (CFO) Peggy Wu received a stock option grant for 45,000 shares.
10 Sept 2015director interest notice● Neutral
Corvus Gold ULC director Anton J Drescher received a stock option grant for 50,000 shares.
10 Sept 2015director interest notice● Neutral
Corvus Gold ULC officer Jeffrey A Pontius received a stock option grant for 150,000 shares.
10 Sept 2015director interest notice● Neutral
Corvus Gold ULC CHIEF OPERATING OFFICER (COO) Carl Brechtel received a stock option grant for 45,000 shares.
3 Sept 2015capital raising announcement● NeutralMajor
Corvus closed a Cdn$2,000,000 private placement of 4,255,320 shares at Cdn$0.47 each (no warrants), sold to Resource Capital Fund VI L.P., about 5% of outstanding shares. No insiders took part and there was no change of control; the company says it adds flexibility for its drilling program into 2016. The price is well below the Cdn$1.00 paid in the February 2015 placement, and the new shares dilute existing holders.
What it means for a shareholder
4.3m new shares at C$0.470 to raise about C$2.0m. That's 5.0% dilution: every existing holder's slice gets 5.0% smaller. If you held C$1,000 of shares (2,128 at the issue price), your slice goes from 0.00265% to 0.00252% of the company. To keep it you'd need 113 more shares - about C$53 at the issue price.
Create a free account to see this worked out for your own holding.
11 Aug 2015resource reserve update● Neutral
Corvus issued a press release saying it has filed the full technical report for the North Bullfrog PEA, and states there are no material differences from the June 16, 2015 news release. It restates the PEA headline numbers already known: post-tax NPV (5%) of US$246M at $1,200 gold (US$103M at $1,000), 38% IRR, initial capital of about US$175M, cash cost of US$635/oz and a 10-year life. The company repeats that the PEA is preliminary and may not be realized.
5 Aug 2015resource reserve update● Neutral
Corvus filed with the SEC the full technical report (dated June 16, 2015) behind its June 2015 North Bullfrog preliminary economic assessment, prepared by Scott Wilson, Stephen Batman, Herbert Osborne and William Pennstrom. It supports the PEA already announced in June; the portion provided here contains no new figures, and the filing repeats that inferred resources are highly uncertain and not reserves.
3 Aug 2015farm in farm out agreement● NeutralMajor
Corvus's Alaskan subsidiary sold the West Pogo project and Goodpaster database to Millrock Resources for US$120,000 in cash, keeping net smelter return royalties, and gave Millrock until September 1, 2015 to option the LMS project (US$775,000 over 5 years, with a retained 3% precious-metals royalty). The company calls these non-core and says the cash will fund exploration at North Bullfrog in Nevada, so it is moving away from the Alaskan assets it reported on in the 2014 LMS technical report. The LMS option is not yet exercised.