6 Mar 2009director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Farallon Capital Partners LP sold 63,900 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Mar 2009director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Farallon Partners L L C/ca sold 280,270 shares.
4 Mar 2009director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Farallon Capital Partners LP sold 280,270 shares.
12 Feb 2009director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Sawikin Harvey bought 165,000 shares on the open market at $0.09.
7 Jan 2009substantial holder notice● Neutral
Farallon Capital Partners, L.P, Farallon Capital Institutional Partners, L.P, Farallon Capital Institutional Partners II, L.P, Farallon Capital Institutional Partners III, L.P, Farallon Capital Offshore Investors II, L.P, Farallon Partners, L.L.C, William F. Duhamel, Richard B. Fried, Daniel J. Hirsch [See Item, Monica R. Landry, Douglas M. MacMahon, William F. Mellin, Stephen L. Millham, Jason E. Moment, Ashish H. Pant, Rajiv A. Patel, Andrew J. M. Spokes, Thomas F. Steyer, Richard H. Voon [See Item, Mark C. Wehrly reported a GLOBAL GOLD CORP shareholding of 4,935,830 shares (14.30% of votes) in a periodic institutional filing.
5 Jan 2009director interest notice● Neutral
Hirsch Daniel J. became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
30 Dec 2008capital raising announcement▼ Bad
On December 30, 2008 Global Gold sold a further 1,250,000 shares at $0.10 ($125,000), with the same $0.15 warrants running to December 9, 2013, to current individual shareholders. This brings the offering to 4,750,000 shares sold out of up to 10 million. It continues the December 15 placement and adds more dilution.
What it means for a shareholder
1.3m new shares at C$0.100 to raise about C$125,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
18 Dec 2008capital raising announcement▼ BadMajor
On December 15, 2008 Global Gold sold 3,500,000 shares at $0.10 each ($350,000) to existing shareholders Firebird Global Master Fund, Firebird Republics Fund and Firebird Avrora Fund. Each share comes with a warrant to buy one more share at $0.15 until December 9, 2013. This is the first tranche of an offering of up to 10 million shares, open until December 31, 2008 (extendable to January 30, 2009). The shares are sold at $0.10, far below the $0.75 to $1.25 prices of earlier raises, and will dilute existing holders.
What it means for a shareholder
3.5m new shares at C$0.100 to raise about C$350,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
18 Dec 2008substantial holder notice● Neutral
Firebird Avrora Fund, Ltd, Firebird Global Master Fund, Ltd, Firebird Republics Fund, Ltd, Firebird Avrora Advisors LLC, FGS Advisors, LLC, Firebird Management LLC, James Passin, Harvey Sawikin, Ian Hague, Vadim Daynovsky, Luba Kostyukova, Steve Gorelik reported a GLOBAL GOLD CORP shareholding of 16,773,167 shares (40.50% of votes) in a periodic institutional filing.
17 Dec 2008director interest notice● Neutral
Firebird Avrora Fund LTD became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
17 Dec 2008director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Sawikin Harvey bought 7,000,000 shares on the open market.
17 Dec 2008director interest notice● Neutral
Firebird Republics Fund LTD /ny became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
4 Dec 2008director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Sawikin Harvey bought 100,000 shares on the open market at $0.10.
2 Dec 2008substantial holder notice● Neutral
Firebird Avrora Fund, Ltd, Firebird Global Master Fund, Ltd, Firebird Republics Fund, Ltd, Firebird Avrora Advisors LLC, FGS Advisors, LLC, Firebird Management LLC, James Passin, Harvey Sawikin, Ian Hague reported a GLOBAL GOLD CORP shareholding of 9,673,166 shares (28.10% of votes) in a periodic institutional filing.
1 Dec 2008director interest notice● Neutral
Firebird Global Master Fund LTD became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
1 Dec 2008substantial holder notice● Neutral
Farallon Capital Partners, L.P, Farallon Capital Institutional Partners, L.P, Farallon Capital Institutional Partners II, L.P, Farallon Capital Institutional Partners III, L.P, Farallon Capital Offshore Investors II, L.P, Farallon Partners, L.L.C, Chun R. Ding [See Item, William F. Duhamel, Richard B. Fried, Monica R. Landry, Douglas M. MacMahon, William F. Mellin, Stephen L. Millham, Jason E. Moment, Ashish H. Pant, Rajiv A. Patel, Derek C. Schrier [See Item, Andrew J. M. Spokes, Thomas F. Steyer, Mark C. Wehrly reported a GLOBAL GOLD CORP shareholding of 6,695,830 shares (18.50% of votes) in a periodic institutional filing.
1 Dec 2008director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Sawikin Harvey bought 700,000 shares on the open market.
26 Nov 2008director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Farallon Capital Partners LP sold 344,170 shares.
26 Nov 2008director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Farallon Partners L L C/ca sold 344,170 shares.
25 Nov 2008director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Farallon Partners L L C/ca sold 344,170 shares.
25 Nov 2008director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Farallon Capital Partners LP sold 344,170 shares.
22 Oct 2008material agreement▲ GoodMajor
On October 17, 2008 Global Gold ended its April 2007 option on the Cochrane Pond property in Newfoundland and swapped it for a royalty: a 1% gross production royalty on uranium concentrate, capped at CDN $1 million and then 0.5%, in return for US$50,000 (US$25,000 each to Commander and Bayswater) within 30 days. This resolves the open Cochrane Pond final-agreement thread, with the company giving up its 51% earn-in rights. Separately, a press release reported a gold and silver discovery in the Central Area of Toukhmanuk, Armenia: at least eighteen mineralized zones, surface samples of 1 to 280 g/t gold, over 20,000 m of drilling, and about 20% of the trend tested. The company says new resource estimates are underway; the older Soviet-era figures quoted are historical and not confirmed resources.
8 Oct 2008material agreement● NeutralMajor
On October 3, 2008 Global Gold agreed to sell its Chiloe and Ipun island properties back to the Quijano family, to be concluded by October 15 with transfer by November 1, 2008. It receives $200,000 (half at closing, half within 60 days), mining equipment, land in Pureo and near Guadalupe, and a first-priority $200,000 payment from Global Gold Valdivia profits. It keeps the joint venture on the other Chilean properties and says it has restarted plans to bring Madre de Dios into production within eight months. This partly reverses the island options taken in 2007 and 2008, and follows the failed sale of all Chilean interests.
17 Sept 2008material agreement termination● NeutralMajor
The sale of the Chilean interests to Madre Gold, LLC was terminated as of September 16, 2008, the day after the planned closing, because one party did not perform one of its closing obligations. The filing does not say which party. Global Gold keeps its Chilean interests. Under the July terms (inference), the $3,210,367.12 of credit against Ian Hague's advances would turn into a 10% loan from him, convertible into shares at not less than $0.43, but this filing does not say so.
4 Aug 2008material agreement● NeutralMajor
As of July 31, 2008 Global Gold agreed to sell all its Chilean interests, including its 51% of Global Gold Valdivia and the Santa Candelaria royalty, to Madre Gold, LLC for $5 million plus a 2.5% royalty, with closing set for September 15, 2008 after due diligence. This would reverse the Chilean expansion built in 2007. The buyer is partly owned by director Ian Hague, who recused himself; the price would be credited against $3,210,367.12 of advances from Hague, and if the sale fails that amount becomes a 10% loan from him, convertible into shares at a price of not less than $0.43. Global Gold would keep operating the property through August 31, 2009. The royalty starts three months after the buyer's share of distributions reaches $6.0 million.
29 May 2008director interest notice● Neutral
Derek C Schrier became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
10 Apr 2008asset acquisition disposition● NeutralMajor
An amendment executed March 31, 2008 (approved by the board April 8) moves the Chiloe and Ipun licences into the existing Global Gold Valdivia company, in exchange for 250,000 restricted Global Gold shares due by May 1, 2008. This follows the option extension to March 31 and brings the island properties into the existing 51-49 joint venture; bonus payments to the Quijano family are pooled with Madre de Dios and Pureo output. The company also granted each of its five directors options on 100,000 shares at $0.45, vesting October 8, 2008, adding some dilution.
31 Mar 2008security holder rights change● Neutral
On March 25, 2008 the board extended the expiry of 3,466,666 warrants from the April 2006 private placement from April 1, 2008 to December 31, 2008. Holders get more time to buy shares at the warrant price; the filing does not state the exercise price, and if exercised the shares would dilute existing holders.
12 Feb 2008material agreement● Neutral
The deadline to exercise the options on the Ipun and Chiloe island properties was extended to March 31, 2008 (from January 30/31, 2008), as due diligence continues. Separately, Global Gold's Armenian subsidiary converted $229,167 of debt (principal and interest) at $1.50 per share into 152,778 company shares, which are to be cancelled, ending the September 2006 note tied to the Mego-Gold purchase. The company also issued 100,000 bonus shares to Dr. Urquhart and bonus shares to Armenian employees (26,750 shares to 82 employees, and 27,000 shares to 8 key employees vesting over 2 years), all valued at $0.55 per share; this is a small dilution.
4 Feb 2008director interest notice● Neutral
GLOBAL GOLD CORP Chairman and CEO Krikorian Van gifted 50,000 shares.