Past year: ▲ 46%(2.24 – 4.09 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Oct 2019capital raising announcement● Neutral
Corvus filed a notice that a press release dated October 10, 2019 reported the closing of its private placement of common shares. The filing itself gives no share count, price or buyer; those details are only in the attached press release, which is not included here. It is unclear whether this refers to the BMO offering from October 3 (that was described as a registered offering, not a private placement), so the link is not established.
22 Aug 2019capital raising announcement● Neutral
Corvus issued 500,000 shares at $2.60 per share to a key strategic shareholder on August 20, 2019 (about $1.3M at that price; currency and total are not stated). The shares dilute existing holders. The 'key strategic shareholder' is not named, and the filing does not say who it is.
What it means for a shareholder
500,000 new shares at $2.60 to raise about $1.3m. That's 0.445% dilution: every existing holder's slice gets 0.445% smaller. If you held $1,000 of shares (385 at the issue price), your slice goes from 0.000344% to 0.000342% of the company. To keep it you'd need 2 more shares - about $5 at the issue price.
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3 June 2019capital raising announcement● Neutral
Corvus agreed with EMX Royalty Corporation to issue 500,000 shares at Cdn$1.80 (Cdn$900,000) and to sell four non-core Alaskan royalty interests to EMX for Cdn$350,000. The company says proceeds are expected to fund expanded exploration at Mother Lode and North Bullfrog. This continues the strategy of selling non-core assets, and the new shares dilute holders.
What it means for a shareholder
500,000 new shares at C$1.80 to raise about C$900,000. That's 0.449% dilution: every existing holder's slice gets 0.449% smaller. If you held C$1,000 of shares (556 at the issue price), your slice goes from 0.000501% to 0.000499% of the company. To keep it you'd need 3 more shares - about C$5 at the issue price.
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12 July 2018capital raising announcement▲ Good
Corvus issued 1,730,770 shares at $2.60 per share to a key strategic shareholder on June 7, 2018 (about $4.5M at that price; the filing does not state the currency or total). This is a much higher price than earlier raises, and the shares dilute existing holders.
What it means for a shareholder
1.7m new shares at $2.60 to raise about $4.5m. That's 1.6% dilution: every existing holder's slice gets 1.6% smaller. If you held $1,000 of shares (385 at the issue price), your slice goes from 0.000369% to 0.000363% of the company. To keep it you'd need 6 more shares - about $16 at the issue price.
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13 Dec 2017capital raising announcement▲ Good
Corvus closed a placement of 4,403,933 shares on December 7, 2017: 2,829,130 at Cdn$1.15 to institutional shareholders and 1,574,803 at Cdn$1.27 to a key strategic shareholder. It also furnished results from eight new Mother Lode drill holes (no figures in the filing). The new shares dilute existing holders, at prices well above the 2016-2017 raises.
What it means for a shareholder
4.4m new shares at C$1.15 to raise about C$5.1m. That's 4.2% dilution: every existing holder's slice gets 4.2% smaller. If you held C$1,000 of shares (870 at the issue price), your slice goes from 0.000871% to 0.000835% of the company. To keep it you'd need 38 more shares - about C$44 at the issue price.
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6 Oct 2017capital raising announcement● NeutralMajor
This is a corrected re-filing (the July 2017 report was first filed by mistake as a foreign-issuer form). It reports a July 5, 2017 placement of 6,200,000 shares at Cdn$0.75 (Cdn$4,650,000) to an institutional investor, and adds that 1,000,000 shares (fair value $810,000) were issued on June 9, 2017 to Goldcorp USA, Inc. to acquire the Mother Lode property in Nevada. Mother Lode is a new asset; both share issues dilute existing holders.
21 July 2016capital raising announcement▲ Good
Corvus closed a Cdn$2,601,000 private placement of 2,550,000 shares at Cdn$1.02 (no warrants), about 2.8% of outstanding shares, with Osisko Mining Inc. as the sole buyer. The company says the money is expected to speed up the North Bullfrog exploration program; the price is above the Cdn$0.70 of March 2016, and the new shares dilute existing holders.
What it means for a shareholder
2.5m new shares at C$1.02 to raise about C$2.6m. That's 2.8% dilution: every existing holder's slice gets 2.8% smaller. If you held C$1,000 of shares (980 at the issue price), your slice goes from 0.0011% to 0.00107% of the company. To keep it you'd need 28 more shares - about C$29 at the issue price.
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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.
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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.
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5 Mar 2015capital raising announcement▲ GoodMajor
Corvus closed a non-brokered private placement of 4,500,000 shares at Cdn$1.00 each, raising Cdn$4,500,000; insiders Tocqueville Asset Management and AngloGold Ashanti (USA) Exploration took part. The company says the money fully funds its proposed 2015 exploration program, with drilling due to start in Q2 2015, and it adds new shares, so existing holders' stakes are diluted by that issue.
What it means for a shareholder
4.5m new shares at C$1.00 to raise about C$4.5m. That's 5.6% dilution: every existing holder's slice gets 5.6% smaller. If you held C$1,000 of shares (1,000 at the issue price), your slice goes from 0.00132% to 0.00125% of the company. To keep it you'd need 60 more shares - about C$60 at the issue price.
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