Past year: ▼ 98%(0.50c – 22.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Jan 2020capital raising announcement▼ BadMajor
General Moly exchanged 95% of its maturing 2019 notes for new notes due 2022 at a higher 12% interest rate — avoiding a near-term default by paying more for the extension, a classic sign of a company running out of options.
7 Aug 2019capital raising announcement▼ Bad
With the Amer relationship in dispute, General Moly raised another $400,000 from CEO Hansen and COO Pennington through a new class of preferred stock.
23 May 2019capital raising announcement▼ BadMajor
Landowner Mount Hope Mines bought $500,000 of the same insider-style preferred stock, and executives funded a third $300,000 tranche — the company was now being kept afloat mainly by insiders and its own royalty landlord.
28 Mar 2019capital raising announcement▼ Bad
CEO Bruce Hansen and COO Robert Pennington put in the first $300,000 of the insider preferred-stock financing announced two weeks earlier.
15 Mar 2019capital raising announcement▼ BadMajor
General Moly hired financial advisors to explore "strategic alternatives" — including a possible sale of the company or its assets, or restructuring its 2014 convertible notes due that December — while arranging a small $900,000 insider-funded preferred-stock bridge led by CEO Bruce Hansen.
16 Oct 2017capital raising announcement● Neutral
Amer's $6 million second-tranche investment closed despite the water-permit setback.
1 Dec 2015capital raising announcement▼ BadMajor
The Amer International deal was restructured into three smaller closings, and the first closed for just $4 million (versus the roughly $20 million originally implied) — a much slower start than the 2015 announcement suggested.
21 Apr 2015capital raising announcement▲ GoodMajor
General Moly signed a new Chinese financing partner, Amer International Group, on essentially the same model as the failed Hanlong deal: Amer would buy about 25.7% of the company and help arrange roughly $700 million in Chinese bank financing for Mount Hope.
30 Dec 2014capital raising announcement▼ BadMajor
With the Hanlong financing gone, General Moly turned to a smaller stopgap: an $8.5 million private placement of 10% convertible notes, with CEO Bruce Hansen, CFO David Chaput and other executives buying in themselves — insiders funding the company as external Chinese capital had failed to appear.
31 Oct 2012capital raising announcement▼ BadMajor
General Moly and Hanlong signed a new $125 million subordinated loan meant to sit behind the still-unsecured $665 million Chinese bank loan — another layer of financing stacked onto a deal that, more than two and a half years in, had yet to deliver its core bank loan.
5 Jan 2011capital raising announcement▲ Good
Major shareholder Coghill Capital exercised warrants for about $15.6 million after General Moly agreed to reprice them slightly lower.
16 Dec 2010capital raising announcement● Neutral
Warrant holders exercised for roughly $3.1 million of stock, routine dilution from 2006-era warrants.
19 Apr 2010capital raising announcement● Neutral
General Moly got ArcelorMittal, an existing shareholder and off-take partner, to waive its anti-dilution rights so the Hanlong share issuance could proceed, while extending ArcelorMittal's own supply agreement.
5 Mar 2010capital raising announcement▲ GoodMajor
General Moly signed a major financing deal with Hanlong, a large private Chinese mining group: Hanlong would buy 25% of the company for $80 million and try to arrange a $665 million Chinese bank loan plus a $20 million bridge loan to fund Mount Hope's roughly $1.15 billion build-out — its most consequential financing agreement yet, and one that would take years to play out.
14 Apr 2008capital raising announcement▲ Good
Warrant holders from the March 2007 placement exercised warrants for $19.1 million, adding cash without a new fundraising round.
23 Nov 2007capital raising announcement● Neutral
General Moly amended its Mount Hope lease with Mount Hope Mines to share the cost risk of any future federal mining royalty and to raise minimum royalty payments.
3 Apr 2007capital raising announcement▲ GoodMajor
The company raised $25 million in another private placement, earmarked for permitting Mount Hope and evaluating Hall Tonopah.
17 Feb 2006capital raising announcement▲ GoodMajor
Idaho General Mines raised $30 million in a private placement priced at $2.00 per unit and applied to list its stock on a senior exchange — a much larger raise than its prior financings, reflecting growing investor interest in Mount Hope.
17 Jan 2006capital raising announcement▲ Good
Idaho General Mines raised $3.8 million in a private placement of stock-and-warrant units.
27 Apr 2005capital raising announcement▲ GoodMajor
The company completed its Mount Hope feasibility study, outlining a 30-year open-pit mine expected to recover about 700 million pounds of molybdenum, and closed a $2.25 million private placement to keep funding the project's permitting.
18 Nov 2004capital raising announcement▲ GoodMajor
Idaho General Mines (the company later renamed General Moly) paid $175,000 plus stock for a one-year option to lease Mount Hope Mines' undeveloped molybdenum deposit in Nevada — the deal that would become the company's flagship Mt. Hope project.
