Each one in plain English, with the numbers worked through for a shareholder.
3 Aug 2020resource reserve update▲ Good
Goldrich said it hired Global Resources Engineering of Denver to prepare a mining plan and Initial Assessment for the Chandalar Mine. Under the SEC's new mining disclosure rules, this would let the company report inferred, indicated and measured resources for the first time; whether to also commission a Preliminary Feasibility Study (needed to disclose reserves) will depend on the Initial Assessment's findings. Chandalar has no reserves today, so this is a first step toward a formal resource figure, not a result.
Christopher R. Johnson, Randall L. Johnson reported a GOLDRICH MINING CO shareholding of 12,994,702 shares (9.31% of votes) in a periodic institutional filing.
Christopher R. Johnson, Randall L. Johnson reported a GOLDRICH MINING CO shareholding of 13,660,370 shares (9.73% of votes) in a periodic institutional filing.
28 Aug 2018capital raising announcement● NeutralMajor
On August 20, 2018 the company closed another $980,000 of borrowing under the Senior Secured Notes first announced February 13, 2018, bringing net proceeds to $2,685,000 (the note can go up to $2,750,000), with $1,780,000 of the additional funds received from a director. It also reported Chandalar placer production began May 31, 2018, reaching 10,557 raw ounces (about 8,657 fine) through July, versus 7,262 raw ounces through July 2017. Separately it said the GNP joint venture is intended to be dissolved: NyacAU expects GNP to miss the minimum production requirement (1,100, 1,200 and 1,300 oz for 2016 to 2018, due by October 31, 2018), and the two are in arbitration with a final ruling and outcome not yet determined. If GNP is dissolved, its lease on the placer ground ends, which would resolve the long-running JV thread and change who holds the placer rights.
On June 25, 2018 the company issued 1,850,000 shares to the CEO, CFO and a manager for deferred pay, and 3,292,292 shares (valued at $0.028) to six of seven independent directors who chose shares over cash fees. No cash was raised, but the company was relieved of $91,298 of director-fee liabilities. The filing says cash pay has been restricted by financial hardship, and the new shares add to the share count.
What it means for a shareholder
3.3m new shares at US$0.028 to raise about US$91,298. That's 2.4% dilution: every existing holder's slice gets 2.4% smaller. If you held US$1,000 of shares (35,714 at the issue price), your slice goes from 0.0266% to 0.026% of the company. To keep it you'd need 877 more shares - about US$25 at the issue price.
Christopher R. Johnson, Randall L. Johnson reported a GOLDRICH MINING CO shareholding of 12,081,427 shares (9.21% of votes) in a periodic institutional filing.
The company reported further Series F sales of $20,000 (February 7) and $25,000 (March 1), 45 shares in total on the same terms ($1,000 each, $0.03 conversion, $0.03 Series S warrants), and raised the authorized Series F shares by 100 under an amended designation, with no change to the other rights. The filing says 2016 for the sale dates, which looks like a typo given the 2017 report date (inference). The $20,000 plus $25,000 amounts do not obviously match 45 shares at $1,000 ($45,000 would), so that matches; it continues the small dilutive raises.
