16 Apr 2020listing compliance notice▼ BadMajor
Golden Queen Mining Consolidated Ltd. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Feb 2020substantial holder notice● Neutral
Gabelli Funds, LLC I.D. No, GGCP, Inc. I.D. No, GAMCO Investors, Inc. I.D. No, Mario J. Gabelli reported a Golden Queen Mining Consolidated Ltd. shareholding of 353,000 shares (2.61% of votes) in a periodic institutional filing.
22 Aug 2019substantial holder notice● Neutral
Private Management Group, Inc. reported no remaining Golden Queen Mining Consolidated Ltd. shareholding in its periodic institutional filing.
13 Aug 2019substantial holder notice● Neutral
Gabelli Funds, LLC I.D. No, GGCP, Inc. I.D. No, GAMCO Investors, Inc. I.D. No, Mario J. Gabelli disclosed a new substantial Golden Queen Mining Consolidated Ltd. shareholding (7.97% of votes).
28 May 2019asset acquisition disposition▼ BadMajor
On May 22, 2019, Golden Queen completed the sale of Golden Queen Mining Holdings, and with it the 50% interest in the Soledad Mountain mine, to Clay-family purchasers, after shareholders approved it on May 13 (including a majority of non-purchaser votes). In return it received US$4.25M cash and release of about US$26.6M of debt, and the purchasers' options and warrants are cancelled and their 177,701,229 shares are to be surrendered for cancellation (still in progress). The company says it now holds no operating business or assets other than cash; it plans to look for a new business, consolidate shares 10-for-1, rename to Golden Queen Mining Consolidated Ltd. and move its listing to the NEX board. A contingent payment of 20% of net proceeds above US$55M applies if the project is sold before June 30, 2020. This resolves the sale and loan-default threads; the amendment extended the outside date to May 22, 2019.
7 May 2019quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $17.0 million and a net loss of $2.3 million for the period ended 2019-03-31.
7 May 2019asset acquisition disposition▼ BadMajor
Q1 2019 results: 12,032 oz gold produced, revenue US$16.979M, net loss attributable to the company US$2.3M, and cash of US$6.683M at March 31 (100% project basis). The company states it cannot repay the November 2017 loan and faces significant insolvency risk; if shareholders reject the sale of Golden Queen Mining Holdings (which holds the 50% of the mine) to Clay-family purchasers, the loan falls due and the release says bankruptcy would likely mean total loss of equity value. The sale terms are US$4.25M cash, extinguishing about US$27.0M of debt owed to the purchasers, and cancelling 177,701,229 shares, 457,500 options and 18,000,000 warrants, plus a possible contingent payment; the vote is set for May 13, 2019. This is a results release, not the sale closing.
6 May 2019quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $17.0 million and a net loss of $2.3 million for the period ended 2019-03-31.
23 Jan 2019substantial holder notice● Neutral
Private Management Group, Inc. reported a Golden Queen Mining Consolidated Ltd. shareholding of 25,980,694 shares (8.66% of votes) in a periodic institutional filing.
8 Nov 2018quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $16.9 million and a net loss of $2.4 million for the period ended 2018-09-30.
8 Nov 2018quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $16.9 million and a net loss of $2.4 million for the period ended 2018-09-30.
18 Oct 2018material agreement▼ BadMajor
This filing gives the formal terms of the October 12 US$20M revolving facility to the Soledad mine subsidiary: 8% interest (plus 2% on default), a 1% commitment fee on the undrawn amount, a first-priority security interest over the subsidiary's assets, and pledges of both partners' membership interests in it. The company also amended its US$31M-era Clay term loan to add a cross-default to the new facility and reaffirmed its guaranty and pledge. Thomas M. Clay, CEO and director, is trustee of two of the term-loan lenders, and the LTC lender holds 75% of Auvergne, a lender on the new facility; he declared his interest. The filing says the 46% dilution if the warrants are exercised may affect accounting for the subsidiary.
16 Oct 2018production update● NeutralMajor
Golden Queen announced that its 50%-owned operating subsidiary, Golden Queen Mining Company LLC, agreed a US$20 million revolving credit facility with its partners in the JV, Gauss Holdings (owned by Jefferies Financial Group) and Auvergne (owned by Clay family members). The facility matures March 31, 2020 at 8% interest, and US$5 million has been drawn for working capital. Lenders also received warrants for 7.5% of the subsidiary on a fully diluted basis, which would cut the company's stake to 46.25% if exercised and may change how the subsidiary is accounted for. The release also reported Q3 2018 production of 12,943 oz gold and 121,843 oz silver, and the highest quarterly mined gold grade since operations began (0.026 oz/ton).
13 Aug 2018quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $14.5 million and a net loss of $632 thousand for the period ended 2018-06-30.
9 Aug 2018quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $14.5 million and a net loss of $632 thousand for the period ended 2018-06-30.
11 May 2018quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $9.6 million and a net loss of $5.4 million for the period ended 2018-03-31.
10 May 2018quarterly activities report▼ Bad
Golden Queen Mining Consolidated Ltd. reported quarterly revenue of $9.6 million and a net loss of $5.4 million for the period ended 2018-03-31.
20 Apr 2018production update▲ Good
Golden Queen released drill results for seven more holes (GQ-829 to GQ-835) in its 2018 infill program around the East Pit at the 50%-owned Soledad Mountain mine, and said nine more holes await assays. It also reported that ore mined from the East Pit since November 2017 ran above the reserve estimate: cumulative ore control of 1,825,872 tons versus 1,505,103 tons in reserves, with gold grade 0.020 vs 0.016 oz/ton. The release states that Q4 2017 East Pit development was accelerated to make up for a shortfall in ore and lower-than-expected grades from the North-West and Main (Phase 1) pits.
9 Feb 2018director interest notice● Neutral
Golden Queen Mining Consolidated Ltd. director Paul M Blythe bought 300,000 shares on the open market at $0.01.
9 Feb 2018substantial holder notice● Neutral
Private Management Group, Inc. disclosed a new substantial Golden Queen Mining Consolidated Ltd. shareholding (8.48% of votes).
9 Feb 2018director interest notice● Neutral
Paul M Blythe became a Golden Queen Mining Consolidated Ltd. director and company insider (initial ownership filing).
9 Feb 2018director interest notice● Neutral
Golden Queen Mining Consolidated Ltd. director Paul M Blythe received 150,000 shares as an equity award and bought 900,000 shares on the open market.
8 Feb 2018director interest notice● Neutral
Golden Queen Mining Consolidated Ltd. Chief Financial Officer Bel Guy Roger Le bought 80,000 shares on the open market at $0.15.
29 Jan 2018director interest notice● Neutral
Of Landon Thomas Clay Estate became a Golden Queen Mining Consolidated Ltd. 10%+ owner and company insider (initial ownership filing).
29 Jan 2018director interest notice● Neutral
Golden Queen Mining Consolidated Ltd. CEO Thomas Moragne Clay disposed of 10,163,295 shares via option/appreciation-right settlement.
16 Jan 2018director interest notice● Neutral
Richard T Clay became a Golden Queen Mining Consolidated Ltd. 10%+ owner and company insider (initial ownership filing).
12 Jan 2018securities registration● Neutral
Golden Queen Mining Consolidated Ltd. filed a free-writing prospectus - marketing material for an offering in progress.
12 Jan 2018securities registration● Neutral
Golden Queen Mining Consolidated Ltd. filed the final prospectus for a registered offering.
4 Jan 2018director interest notice● Neutral
Landon T Clay became a Golden Queen Mining Consolidated Ltd. 10%+ owner and company insider (initial ownership filing).
8 Dec 2017securities registration● Neutral
Golden Queen Mining Consolidated Ltd. registered a securities offering with the SEC using its shelf eligibility.