Past year: ▲ 10560%(5.00c – 5.33 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Nov 2011capital raising announcement▲ GoodMajor
Raised CAD$2.16 million through a brokered offering priced at CAD$1.00/unit with CAD$1.25 warrants - notably higher pricing than the roughly $0.50-0.90/unit raises through 2010, reflecting a stronger share price a year into the Oman pivot.
10 Feb 2011capital raising announcement▲ GoodMajor
Raised a further $4.49 million from investors in January 2011, continuing to fund the buildout of the Oman copper project.
14 Jan 2011capital raising announcement● Neutral
A small $19,500 top-up tranche (26,000 units) closing out the same November 2010 financing round.
29 Dec 2010capital raising announcement▲ GoodMajor
Sold a further $2.75 million of units (3.66 million units) to non-US investors through late November 2010, part of the same financing push.
10 Nov 2010capital raising announcement▲ GoodMajor
Announced completion of a $5.25 million private placement, the largest raise yet since the Oman pivot, continuing to fund exploration there.
8 Nov 2010capital raising announcement▲ GoodMajor
Raised a further $2.08 million from two non-US investors (2.78 million units at roughly $0.75) to keep funding the Oman project.
What it means for a shareholder
2.8m new shares at about US$0.7482 to raise about US$2.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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3 Sept 2010capital raising announcement● Neutral
Granted 650,000 stock options to employees under the new incentive plan, exercisable at $0.75.
28 July 2010material agreement● Neutral
Adopted a new Performance and Equity Incentive Plan for officers, employees and directors, formalizing compensation under the new post-pivot management team.
6 May 2010capital raising announcement● Neutral
Confirmed via press release the completion of the same $2 million private placement.
30 Apr 2010capital raising announcement▲ GoodMajor
Raised $2 million from a single non-US investor (4 million units at $0.50) to advance the new Oman copper project.
What it means for a shareholder
4.0m new shares at US$0.500 to raise about US$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 Apr 2010capital raising announcement● Neutral
Issued 100,000 shares to an employee as compensation for work securing the company's Oman mineral property rights.
22 Apr 2010auditor change▲ Good
Dismissed auditor BDO Canada and engaged Deloitte & Touche - a step up to a Big Four firm, and a sign of the more institutional footing (new Toronto head office, new leadership) the company adopted alongside its move into Oman.
8 Mar 2010asset acquisition disposition▲ GoodMajor
Closed the APM Mining acquisition, gaining the Oman copper exploration rights. Alongside the closing, founder and president Lloyd Bardswich and director Kitt Dale resigned; Banro Corporation CFO Donat Madilo was appointed the company's new CFO - a full changing of the guard accompanying the pivot to Oman.
24 Feb 2010material agreement▲ GoodMajor
Agreed to acquire APM Mining Ltd. from Arabian Peninsula Projects Ltd. for 10.36 million restricted shares, gaining earn-in rights to copper exploration ground in the Sultanate of Oman - a major strategic pivot away from the Idaho moly-tungsten project.
20 Aug 2008resource reserve update▲ GoodMajor
Published a maiden NI 43-101 inferred resource for the Idaho Moly Project: 5.7 million tons grading 0.15% molybdenum, based on the 21,000-foot drill program completed that May - the first formal resource estimate for the deposit.
28 May 2008drilling result▲ Good
More high-grade moly assays from Idaho and mineralization extended a further 300 feet north, continuing to grow the known deposit ahead of a resource estimate.
18 Apr 2008drilling result▲ GoodMajor
A step-out hole extended the known molybdenum mineralization about 800 feet east and returned the longest moly intercept yet, 1,586 feet averaging 0.135% MoS2 - a sign the deposit is larger than initially thought.
29 Feb 2008drilling result▲ GoodMajor
More high-grade assays from Idaho: a 10-foot intercept grading 1.448% MoS2, 4.22 oz/ton silver and copper credits, continuing to confirm the moly-tungsten-silver mineralization.
9 Jan 2008drilling result▲ GoodMajor
Reported strong first assay results from the renamed "Idaho Moly Project": significant molybdenum, tungsten and silver mineralization across two drill holes, with the best zone assaying 0.84% MoS2 over 10 feet.
21 Dec 2007capital raising announcement● Neutral
Sold 2.5 million restricted shares to a small group of investors, including Sheldon Inwentash, to fund the Idaho drilling program.
29 Aug 2007drilling progress report● Neutral
Began drilling at the Idaho property, its first exploration activity on the newly optioned ground.
26 July 2007material agreement▲ GoodMajor
Gentor's subsidiary Gentor Idaho took an option, assigned by company president Lloyd Bardswich's own LLC, to lease and eventually buy a historic tungsten mine near Patterson, Idaho for up to $5 million in staged payments, plus a 3-5% royalty to the original claim owner. The mine was once the fifth-largest US tungsten producer before closing in 1957.
