14 Feb 2011quarterly activities report▼ Bad
INFRASTRUCTURE MATERIALS CORP. reported a quarterly net loss of $385 thousand for the period ended 2010-12-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Feb 2011capital raising announcement● Neutral
The company sold 2,083,333 shares at $0.24 for $500,000 to a non-U.S. company owned and controlled by CEO and director Todd Montgomery. This is another equity raise with the CEO as the sole investor, and adds to the share count.
What it means for a shareholder
2.1m new shares at $0.240 to raise about $500,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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12 Nov 2010quarterly activities report▼ Bad
INFRASTRUCTURE MATERIALS CORP. reported a quarterly net loss of $1.3 million for the period ended 2010-09-30.
27 Sept 2010late filing notice▼ Bad
INFRASTRUCTURE MATERIALS CORP. notified the SEC that its annual report would be filed late.
19 July 2010material agreement▲ GoodMajor
The U.S. Bureau of Land Management approved the company's plan for exploratory drilling on the Blue Nose Project, 301 limestone claims in Lincoln County, Nevada, and the company posted a $240,805 reclamation bond. About 35 days of drilling to 300-1,200 feet is expected to start at the end of July 2010, which advances the Blue Nose focus described in the February 2010 release.
30 June 2010capital raising announcement● NeutralMajor
The company raised $1,603,831.40 by selling 6,973,180 shares at $0.23 each to non-U.S. investors on June 25, 2010. This adds new shares for existing holders to absorb; the filing does not say what the money will be used for.
What it means for a shareholder
7.0m new shares at $0.230 to raise about $1.6m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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12 Feb 2010material agreement▲ GoodMajor
Now named Infrastructure Materials Corp., the company closed on February 9, 2010 its purchase of Canadian Infrastructure Corp. from CEO Todd Montgomery for 1,021,777 shares at $0.40 (about $408,710.90), approved by disinterested directors. CIC holds 94 quarry leases in Manitoba (6,090 hectares, annual rent about $143,465), adding cement-grade limestone in Canada to the US limestone claims; the press release cites an inferred resource of 89 million tonnes.
13 Feb 2009substantial holder notice● Neutral
Pinetree Capital Ltd., Pinetree Resource Partnership reported a INFRASTRUCTURE MATERIALS CORP. shareholding of 7,500,000 shares (14.00% of votes) in a periodic institutional filing.
7 Nov 2008material agreement● Neutral
Silver Reserve acquired Infrastructure Materials Corp US, which owns limestone mineral claims in the United States, for 397,024 shares. The seller was Todd Montgomery, the CEO and a director and sole owner of the target; disinterested directors approved it, and the company says the claims are not material at this time. This is the origin of the limestone business and later company name (inference: the name match with the later registrant).
9 Sept 2008substantial holder notice● Neutral
Pinetree Capital Ltd., Pinetree Resource Partnership disclosed a new substantial INFRASTRUCTURE MATERIALS CORP. shareholding (15.30% of votes).
26 Aug 2008director interest notice● Neutral
INFRASTRUCTURE MATERIALS CORP. CEO Todd Montgomery bought 500,000 shares on the open market at $0.50.
20 Aug 2008capital raising announcement● NeutralMajor
The company completed a second private placement of 4,100,000 units at $0.50 per unit (about $2.05 million by arithmetic on the stated figures), each a share plus one half-warrant exercisable at $0.75 until September 1, 2010. It pays a $129,500 commission and issues 259,000 broker warrants; this follows the August 1 placement and further dilutes existing holders.
What it means for a shareholder
4.1m new shares at $0.500 to raise about $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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18 Aug 2008director interest notice● Neutral
INFRASTRUCTURE MATERIALS CORP. director Brent Walter bought 400,000 shares on the open market.
5 Aug 2008capital raising announcement● Neutral
The company completed a private placement of 2,440,000 units, each one share plus one half-share warrant; a full warrant buys a share at $0.75 until September 1, 2010. It pays a $17,500 commission and issues 35,000 broker warrants; the filing does not state the price per unit or the total raised for this placement, and the new shares dilute existing holders.
22 July 2008director interest notice● Neutral
INFRASTRUCTURE MATERIALS CORP. President Mason Douglas bought 200,000 shares on the open market at $0.50.
11 July 2008director interest notice● Neutral
INFRASTRUCTURE MATERIALS CORP. CEO Todd Montgomery bought 1,000,000 shares on the open market at $0.50.
30 June 2008material agreement● NeutralMajor
Silver Reserve signed a drilling contract with Christiansen Drilling, Inc. and advanced $50,000 against future invoices. It plans 50,000 feet of drilling on the Medicine Project and 20,000 feet on the Silver Queen Project, and says it may spend as much as $4.5 million in total; this follows the Medicine Claims option from May 2008.
25 June 2008director interest notice● Neutral
INFRASTRUCTURE MATERIALS CORP. President Mason Douglas bought 250,000 shares on the open market at $0.52.
21 May 2008material agreement● Neutral
Silver Reserve took an option from Nevada Eagle Resources, LLC and Steve Sutherland on 25 mineral claims in Elko County, Nevada (the Medicine Claims), paying $10,000 now. Further payments of $15,000, $30,000, $60,000 and then $80,000 a year are due until the tenth anniversary, when it would own 100%, subject to a 3% net smelter royalty; the company can end the option on 60 days' notice and says the claims are not material at this time.
4 Apr 2008director interest notice● Neutral
Janet Shuttleworth became a INFRASTRUCTURE MATERIALS CORP. Treasurer and company insider (initial ownership filing).
19 Feb 2008material agreement● Neutral
Silver Reserve agreed to buy 100% of certain mineral claims in Nye County, Nevada from Roger Hall for 175,000 shares and $5,000, with closing expected February 20, 2008. Mr. Hall is the company's Chief Operating Officer and a director, and the disinterested directors approved it; the company says the claims are not material assets at this time.
28 Sept 2007material agreement▼ Bad
The company, then named Silver Reserve Corp., hired two Panama companies, Costa View Inc. (public relations and promotion) and Brehnam Trading Corp. (general business consulting), each for 24 months from September 1, 2007. Each is to receive 1,500,000 restricted shares in four equal installments of 375,000 between December 2007 and June 2009, so shareholders face 3,000,000 new shares in total; Brehnam also gets expenses reimbursed.
30 July 2007director interest notice● Neutral
Joseph Montgomery became a INFRASTRUCTURE MATERIALS CORP. director and company insider (initial ownership filing).
30 July 2007director interest notice● Neutral
Todd Montgomery became a INFRASTRUCTURE MATERIALS CORP. director and company insider (initial ownership filing).
30 July 2007director interest notice● Neutral
Brent Walter became a INFRASTRUCTURE MATERIALS CORP. director and company insider (initial ownership filing).
30 July 2007director interest notice● Neutral
Stafford Kelley became a INFRASTRUCTURE MATERIALS CORP. Secretary and company insider (initial ownership filing).
30 July 2007director interest notice● Neutral
Mason Douglas became a INFRASTRUCTURE MATERIALS CORP. director and company insider (initial ownership filing).
18 May 2007securities registration● Neutral
INFRASTRUCTURE MATERIALS CORP. filed the final prospectus for a registered offering.
8 May 2007securities registration● Neutral
INFRASTRUCTURE MATERIALS CORP. filed the final prospectus for a registered offering.
2 May 2007securities registration● Neutral
INFRASTRUCTURE MATERIALS CORP. amended an already-effective registration statement.