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Extorre Gold Mines Ltd

TSX:XG

No current share price held for this company.

Past year: ▼ 55%(2.91 – 9.59 CAD)

Market cap: —
Shares on issue: —
Story beats: 13 since 2011
Last event: 17 May 2012

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

19 Mar 2012capital raising announcement● NeutralMajor

The C$25.06M bought-deal placement announced March 7 closed: 3,530,000 shares were issued at C$7.10, with a 5% cash commission to the underwriter and a four-month hold period. Proceeds go to Argentine exploration and development and working capital; this resolves the pending placement and the shares issued dilute existing holders.

What it means for a shareholder

3.5m new shares at C$7.10 to raise about C$25.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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7 Mar 2012capital raising announcement▼ BadMajor

Extorre announced another bought-deal private placement: 3,530,000 shares at C$7.10 for gross proceeds of C$25,063,000, with a 5% cash commission and a four-month hold period; closing is expected by March 29, 2012. The price is below the C$9.45 of the January 2012 offering (a fact from comparing the two filings); proceeds are for Argentine exploration and development and working capital, and it further dilutes existing shareholders if it closes.

What it means for a shareholder

3.5m new shares at C$7.10 to raise about C$25.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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1 Feb 2012capital raising announcement● NeutralMajor

Extorre agreed with underwriters to sell 5,300,000 new shares at CAD$9.45 each for gross proceeds of CAD$50,085,000, plus an over-allotment option of up to 795,000 more shares (up to CAD$7,512,750 extra). Closing is expected by February 22, 2012, with a 5% underwriters' commission; proceeds are for Argentine exploration and development and working capital. It follows the 2011 placement and means existing shareholders' stakes will be diluted if it closes.

What it means for a shareholder

5.3m new shares at C$9.45 to raise about C$50.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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21 July 2011capital raising announcement● NeutralMajor

The $25.2 million placement announced June 20 closed on July 12, 2011: 2,400,000 shares were issued at $10.50. Underwriters received a 6% cash commission plus broker warrants over 5% of the shares issued, each exercisable at $11.15 for 12 months; the shares carry a four-month hold period. Proceeds go to Argentine exploration and development and working capital.

What it means for a shareholder

2.4m new shares at $10.50 to raise about $25.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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23 June 2011capital raising announcement● NeutralMajor

Extorre announced a deal with underwriters to buy 2,400,000 new common shares at $10.50 each, raising $25,200,000 in a private placement, with closing expected around July 12, 2011 subject to regulatory approvals. The money is for exploration and development in Argentina and general working capital; this adds to the roughly $26 million cash reported in June and means existing shareholders will own a smaller share of the company.

What it means for a shareholder

2.4m new shares at $10.50 to raise about $25.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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