31 Oct 2014director interest notice● Neutral
Christopher Arthur Serin became a GEOVIC MINING CORP. Chief Financial Officer,Sect'y and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Aug 2014director interest notice● Neutral
GEOVIC MINING CORP. Executive Vice President William Alan Buckovic gifted 1,300,933 shares.
12 Aug 2014quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $1.9 million for the period ended 2014-06-30.
8 Aug 2014debt financing▼ BadMajor
On July 22, 2014 Geovic signed agreements with Tangiers Investment Group, LLC under which Tangiers committed to buy up to $3.0 million of Geovic common stock over 36 months, in requests of up to $100,000 each at 85% of the lowest daily volume weighted average price in the five trading days after a request. Sales depend on an effective SEC registration. Geovic also issued Tangiers a $44,000 4% convertible note due July 22, 2015 for $40,000 in cash, convertible at 50% of the lowest trading price in the prior 20 trading days, and must issue commitment-fee shares equal to 2.5% of the $3.0 million. For shareholders, the filing's terms mean new shares would be issued below market price (85% for the stock purchases, 50% for the note conversion), which would dilute existing holders; this is an inference, as the filing gives no share counts.
27 June 2014agm notice● Neutral
GEOVIC MINING CORP. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
3 June 2014listing compliance notice▼ BadMajor
The Toronto Stock Exchange told Geovic on June 2, 2014 that it has decided to delist the company's shares, effective at the close of market on July 3, 2014. The TSX cited failure to meet continued listing requirements on financial condition and/or operating results, working capital and capital structure, compliance with the listing agreement, and disclosure. This resolves the review opened May 1, 2014 against the company; the filing does not say what happens to the OTCBB quotation (GVCM), which the press release still lists.
16 May 2014agm notice● Neutral
GEOVIC MINING CORP. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 May 2014agm notice● Neutral
GEOVIC MINING CORP. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
9 May 2014quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $1.8 million for the period ended 2014-03-31.
5 May 2014listing compliance notice▼ BadMajor
The Toronto Stock Exchange notified Geovic on May 1, 2014 that it is reviewing whether the company can stay listed, and gave it until June 3, 2014 to show compliance or face delisting within 30 days after. The TSX says the review concerns the related-party promissory notes issued in 2013 and the first quarter of 2014: no prior TSX approval or disinterested shareholder approval was sought, the key terms were not announced, and it does not consider the interest rates commercially reasonable. Geovic says it will make written submissions to the TSX. This puts the TSX listing at risk because of the related-party notes described in the October and November 2013 filings.
1 May 2014agm notice● Neutral
GEOVIC MINING CORP. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
31 Jan 2014auditor change● Neutral
This amended filing repeats the January 21, 2014 auditor change (Ernst & Young dismissed, Haynie & Company engaged) with fuller wording. It adds that Ernst & Young's reports for the past two years were not adverse or qualified, apart from the going-concern doubt in the 2012 report, and that there were no reportable events. It also attaches an updated Ernst & Young letter dated January 31, 2014. No change to the substance.
24 Jan 2014auditor change▼ Bad
Geovic dismissed Ernst & Young LLP as auditor on January 21, 2014 and engaged Haynie & Company for the fiscal year ending December 31, 2013. The filing states there was no disagreement with Ernst & Young, and notes that its 2012 report raised substantial doubt about Geovic's ability to continue as a going concern.
6 Jan 2014director interest notice● Neutral
GEOVIC MINING CORP. Executive Vice President William Alan Buckovic disposed of 35,140 shares via option/appreciation-right settlement.
12 Nov 2013quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $2.1 million for the period ended 2013-09-30.
6 Nov 2013debt financing▼ BadMajor
Geovic issued a further $100,000 of one-year notes (due October 31, 2014) to Richard G. Buckovic and director Paul D. Rose, again at 200% annual interest. These notes also must be prepaid within five business days after the Jiangxi Rare Metals Tungsten Holdings acquisition of Geovic's 60.5% Geovic Cameroon stake. This continues the related-party borrowing begun in September 2013.
15 Oct 2013securities registration● Neutral
GEOVIC MINING CORP. filed notice of an exempt private placement.
4 Oct 2013debt financing▼ BadMajor
Geovic issued $120,000 of one-year promissory notes (due September 30, 2014) to Richard G. Buckovic, Norman C. Rose and M N Rose Credit Shelter Trust; Mr. Rose is the father of director Paul D. Rose. The notes carry interest of 200% per annum and must be prepaid within five business days after the previously announced acquisition of Geovic's 60.5% interest in Geovic Cameroon by Jiangxi Rare Metals Tungsten Holdings Group. This is the first debt in the record and shows a pending sale of the Cameroon stake to Jiangxi, which the earlier context did not mention.
30 Sept 2013director interest notice● Neutral
Christopher Arthur Serin became a GEOVIC MINING CORP. director and company insider (initial ownership filing).
23 Sept 2013director interest notice● Neutral
Teresa Anne Dooling became a GEOVIC MINING CORP. director and company insider (initial ownership filing).
8 Aug 2013quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $1.6 million for the period ended 2013-06-30.
25 June 2013agm notice● Neutral
GEOVIC MINING CORP. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
10 May 2013quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $1.9 million for the period ended 2013-03-31.
10 May 2013agm notice● Neutral
GEOVIC MINING CORP. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
13 Nov 2012quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $2.8 million for the period ended 2012-09-30.
10 Aug 2012quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $2.5 million for the period ended 2012-06-30.
2 Aug 2012material agreement termination● Neutral
Geovic ended its Denver office lease early (effective July 31, 2012, versus October 31, 2013), paying $155,000 and forfeiting a security deposit of about $14,000, and moved to 5500 East Yale Avenue, Suite 302. The filing says the aim was to cut future cash expenses and keep controlling operating costs.
11 May 2012quarterly activities report▼ Bad
GEOVIC MINING CORP. reported a quarterly net loss of $3.0 million for the period ended 2012-03-31.
30 Apr 2012agm notice● Neutral
GEOVIC MINING CORP. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
30 Apr 2012agm notice● Neutral
GEOVIC MINING CORP. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).