Past year: ▼ 9%(74.0c – 1.06 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Nov 2022drilling result▲ GoodMajor
Three holes into the Gap Zone between the main 450 Zone and the Hinge target: hole 22EC-058 cut three zones over 42.5 metres including 1 metre of 45.00 g/t gold and 1 metre of 5.55 g/t, extending mineralisation about 150 metres west and 315 metres down dip of the resource. The gap between the two productive areas is closing.
24 Oct 2022drilling result▲ GoodMajor
Two more Hinge holes pushed mineralisation a further 125 metres west. Hole 22EC-055 cut eight zones across 290 metres of drill width including 4 metres of 5.75 g/t gold, 1 metre of 9.81 g/t and 3 metres of 1.93 g/t.
14 Oct 2022asset acquisition disposition● NeutralMajor
Completed the sale of 17 million Dolly Varden shares for C$6.8 million, taking Fury from 76,504,590 shares (33%) to 59,504,590 (26%). Fury keeps two board seats under its investor rights agreement.
14 Oct 2022asset acquisition disposition● Neutral
Material change report confirming the 13 October sale of 17 million Dolly Varden shares at C$0.40 for gross proceeds of C$6,800,000.
3 Oct 2022asset acquisition disposition● NeutralMajor
Agreed to sell 17 million Dolly Varden shares - about 7.4% of that company - at C$0.40 to an institutional investor, cutting Fury's stake from 33% to about 26%. The Homestake stake is now working as a treasury: the shares are being sold to pay for drilling in Quebec, at a price well below the C$50 million headline value implied by the 2021 deal.
12 Sept 2022joint venture update▲ Good
Completed the Azimut buy-out at a cost to Fury of C$1,202,663, leaving Eleonore South held 50.022% by Fury and 49.978% by Newmont under a restated joint venture agreement, and defined nine targets on the property.
8 Aug 2022joint venture update▲ Good
Fury and Newmont agreed to buy out Azimut Exploration's remaining 23.77% of the Eleonore South joint venture pro rata, taking the venture to Fury 50.022% and Newmont 49.978% with Fury still operator. Fury's share of the cost is about C$1.2 million for an extra 11.902%.
3 Aug 2022drilling result▲ GoodMajor
Seven holes at the Hinge target extended mineralisation 330 metres west of Eau Claire. Hole 22EC-048 alone gave four high-grade zones - 1 metre of 20.6 g/t gold, 1 metre of 14.19 g/t, 3.5 metres of 5.86 g/t and 3.5 metres of 4.79 g/t - within broader moderate-grade widths, following up the 9.36 g/t intercept of November 2021.
22 June 2022drilling progress report● Neutral
Sent a second rig to Percival for about 6,500 metres, aimed at extending the higher-grade core down plunge and testing a parallel fold hinge 500 metres east.
16 May 2022drilling progress report▲ Good
Completed a 29 line-kilometre induced-polarisation survey at Percival covering eight of the fifteen biogeochemical targets, finding resistivity anomalies over 6.5 kilometres of strike that match the signature of the known silica-breccia gold bodies.
22 Apr 2022capital raising announcement● Neutral
Material change report for the 19 April closing of the C$11,000,000 placement at C$0.80 a share.
19 Apr 2022capital raising announcement▲ GoodMajor
Closed the C$11.0 million placement on 13.75 million shares at C$0.80 to the two investors.
What it means for a shareholder
13.8m new shares at C$0.800 to raise about C$11.0m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held C$1,000 of shares (1,250 at the issue price), your slice goes from 0.000994% to 0.000896% of the company. To keep it you'd need 137 more shares - about C$110 at the issue price.
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12 Apr 2022capital raising announcement▲ GoodMajor
Agreed a C$11.0 million placement of 13.75 million shares at C$0.80 with just two buyers, a Canadian corporate investor and a US institution, with no warrants attached. The price is above last October's C$0.75, and a no-warrant deal to two named buyers is a better sale than the retail unit placements that preceded it.
What it means for a shareholder
13.8m new shares at C$0.800 to raise about C$11.0m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held C$1,000 of shares (1,250 at the issue price), your slice goes from 0.000994% to 0.000896% of the company. To keep it you'd need 137 more shares - about C$110 at the issue price.
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7 Apr 2022drilling spud▲ Good
Started a roughly 15,000-metre 2022 programme at Eau Claire, split between the southeast margin of the deposit, the Western Hinge target that produced 9.36 g/t over 3 metres in November, and Percival.
4 Mar 2022asset acquisition disposition● Neutral
Material change report for the 25 February completion, confirming proceeds of C$5,000,000 in cash and 76,504,590 Dolly Varden shares for Homestake Resource Corporation under the 6 December 2021 purchase agreement.
28 Feb 2022asset acquisition disposition▲ GoodMajor
The Homestake Ridge sale closed, Dolly Varden taking 100% of subsidiary Homestake Resource Corporation and Hecla investing C$5.3 million alongside. Fury has swapped an asset with an economic study and 590,000 gold-equivalent ounces of production potential for cash and a one-third stake in a neighbour - a strategic-review decision, not a geological one.
23 Feb 2022business combination▲ GoodMajor
Dolly Varden shareholders approved the C$50 million Homestake Ridge purchase with 98.8% in favour, and separately approved Fury becoming a control person of Dolly Varden - the consequence of taking 76.5 million shares rather than cash.
16 Feb 2022drilling result▲ Good
Results from the 2021 Raven drilling at Committee Bay: 1.5 metres of 9.18 g/t gold and 1 metre of 7.30 g/t in hole 21RV-012, and 8 metres of 0.88 g/t in 21RV-011, extending mineralisation 160 metres down dip and 70 metres along strike, plus a grab sample of 32.90 g/t gold from a new outcrop 150 metres south. Narrow widths, and Raven remains a vein prospect rather than a deposit.
2 Feb 2022drilling result▲ GoodMajor
Eight holes at Snake Lake, a kilometre east of the Eau Claire resource, returned 1.5 metres of 20.70 g/t gold, 2.50 metres of 5.16 g/t and 1.5 metres of 7.14 g/t, taking the shallow mineralised footprint there past 950 metres of strike.
26 Jan 2022drilling progress report▲ Good
Biogeochemical sampling over six and a half kilometres of folded stratigraphy at Percival produced fifteen gold anomalies on a structural orientation nobody had recognised before, to be followed by a ground geophysical survey. Crews were mobilised back to Eau Claire.
18 Jan 2022drilling progress report● Neutral
Year-end review under the new chief executive: the C$5.6 million October placement, the agreed C$50 million Homestake Ridge sale expected to close in February, and expansion drilling at Eau Claire and Committee Bay. The company now has one financing, one asset sale and two projects rather than five.
6 Dec 2021asset acquisition disposition▲ GoodMajor
Agreed to sell Homestake Ridge to neighbouring Dolly Varden Silver for C$50 million - C$5 million cash and 76,504,590 Dolly Varden shares - consolidating the two adjacent Golden Triangle projects into one. Fury takes board representation and accepts voluntary sale restrictions, so it exits the project by becoming Dolly Varden's largest shareholder rather than by taking cash. The 25,000-metre Homestake drill programme announced in February never happened.
1 Dec 2021drilling result▲ GoodMajor
Hole 21TB-152, drilled 120 metres down dip of the Three Bluffs resource at Committee Bay, hit three high-grade zones over 30 metres including 10 metres of 13.93 g/t gold, 3 metres of 18.67 g/t and 1 metre of 23.2 g/t - the company calls them the best results the project has seen in five years, and they came from a meta-sediment unit that was not expected there. Four holes at Raven were still pending.
29 Nov 2021drilling result▲ GoodMajor
Hole 21EC-041 cut seven mineralised zones over 110 metres of drill width at the Hinge target, including 3 metres of 9.36 g/t gold, 3 metres of 3.38 g/t and 1.5 metres of 4.94 g/t, about 100 metres below the defined resource. The western end of Eau Claire is now open down plunge as well as the eastern.
18 Oct 2021capital raising announcement● Neutral
Material change report for the two-tranche placement completed 13 October at C$5,596,088 on 7,461,450 units.
What it means for a shareholder
7.5m new shares at about C$0.750 to raise about C$5.6m. That's 8.5% dilution: every existing holder's slice gets 8.5% smaller. If you held C$1,000 of shares (1,333 at the issue price), your slice goes from 0.00166% to 0.00152% of the company. To keep it you'd need 124 more shares - about C$93 at the issue price.
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14 Oct 2021capital raising announcement● Neutral
Closed the second and final tranche of 2,375,780 units, taking the placement to 7,461,450 units for C$5,596,088 - above the C$5.025 million first announced.
8 Oct 2021capital raising announcement● Neutral
Closed a first tranche of 5,085,670 units at C$0.75 for C$3,814,253.
What it means for a shareholder
5.1m new shares at C$0.750 to raise about C$3.8m. That's 5.9% dilution: every existing holder's slice gets 5.9% smaller. If you held C$1,000 of shares (1,333 at the issue price), your slice goes from 0.00166% to 0.00156% of the company. To keep it you'd need 84 more shares - about C$63 at the issue price.
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22 Sept 2021capital raising announcement▼ BadMajor
Arranged a C$5.025 million placement of 6.7 million units at C$0.75, each with a full warrant at C$1.20 for three years, callable if the shares hold C$1.50 for 20 days. The price is less than half the C$1.60 paid in February 2020, before the merger.
What it means for a shareholder
6.7m new shares at C$0.750 to raise about C$5.0m. That's 7.7% dilution: every existing holder's slice gets 7.7% smaller. If you held C$1,000 of shares (1,333 at the issue price), your slice goes from 0.00166% to 0.00153% of the company. To keep it you'd need 111 more shares - about C$83 at the issue price.
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13 Sept 2021asset acquisition disposition● Neutral
Bought out a 2% net smelter royalty over certain Homestake Ridge claims for $400,000, a quarter in cash and the rest in shares capped at 328,367. A tidy-up of the title on a project the company was already preparing to sell.
7 Sept 2021drilling progress report● NeutralMajor
New chief executive Tim Clark, replacing Mike Timmins, set out a narrower plan: concentrate on Eau Claire and Committee Bay, put at least 70% of spending into exploration and drilling, run a strategic review of non-core assets, and cut overheads by going virtual in Toronto and sharing costs with sister companies. The strategic review is what leads to the Homestake Ridge sale three months later.
