Past year: ▲ 81%(19.03 – 34.38 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Feb 2023capital raising announcement● Neutral
MAG announced it closed the flow-through private placement, with the headline giving C$23 million. This is up from the C$20 million base announced in January 2023, which suggests the over-allotment option was used (an inference). Other terms are not visible.
26 Jan 2023capital raising announcement▼ BadMajor
MAG announced two share sales. One is a bought deal of 2,735,000 shares at US$14.65 for about US$40 million. The other is a flow-through private placement of 843,000 shares at C$23.75 for C$20 million, tied to the Larder Project in Ontario. Proceeds are for Juanicipio and Deer Trail exploration, Juanicipio capital needs not in the initial estimates, and general purposes. New shares dilute existing holders (an inference from the share issue).
What it means for a shareholder
2.7m new shares at US$14.65 to raise about US$40.0m. That's 2.6% dilution: every existing holder's slice gets 2.6% smaller. If you held US$1,000 of shares (68 at the issue price), your slice goes from 0.0000663% to 0.0000646% of the company. To keep it you'd need 2 more shares - about US$29 at the issue price.
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10 Sept 2020capital raising announcement● Neutral
MAG announced it completed the US$50 million at-the-market equity program first announced in June 2020. Only the headline is visible, so the number of shares sold and the prices are not stated. Completing the program means shares were sold into the market (an inference from the program's structure).
30 June 2020capital raising announcement● NeutralMajor
MAG announced a US$50 million at-the-market offering, a program under which shares can be sold into the market over time. The visible text is only the headline, so the terms and use of proceeds are not stated. Sales under it would add shares (an inference from the structure).
30 Apr 2020capital raising announcement● NeutralMajor
MAG announced it closed the $60 million private placement announced on April 27, 2020. The visible text is only the headline, so the terms are not stated.
27 Apr 2020capital raising announcement● NeutralMajor
MAG announced a $60 million private placement. The visible text is only the headline, so the price, share count, buyers and use of proceeds are not stated. New shares would dilute existing holders (an inference from the share issue).
1 Mar 2016capital raising announcement● NeutralMajor
MAG announced it closed a US$65 million bought deal financing. The visible text is only the headline, so the share price, number of shares and use of proceeds are not stated. This is new equity, so it means dilution for existing holders (an inference from the share issue).
27 June 2014capital raising announcement● NeutralMajor
MAG announced a C$75 million bought deal financing, in which underwriters buy the shares up front. The visible text is only the headline, so the share price, share count and use of proceeds are not stated. New shares would dilute existing holders (an inference from the share issue).
6 Sept 2012capital raising announcement● NeutralMajor
MAG closed its private placement at C$33.1 million (the headline figure; the August announcement had said about C$25 million), which means new shares were issued. Separately, MAG settled a proxy fight with Mining Investors for Shareholder Value (MISV), a group holding about 9.76% of MAG's shares: Richard Clark and Peter Barnes will join a nine-person board slate for the October 5, 2012 annual meeting, and founder director R. Michael Jones will not stand for re-election.
23 Aug 2012capital raising announcement● NeutralMajor
MAG announced a private placement of common shares at C$9.40 per share for gross proceeds of about C$25 million, through agents led by BMO Capital Markets and expected to close around September 5, 2012. The proceeds are to fund the Juanicipio permitting and underground development program, Cinco de Mayo exploration and an initial resource estimate, and general corporate purposes. The filing's cover and exhibit titles say the deal was confirmed at C$33.1 million, but the visible text only gives the C$25 million details. It means new shares issued, diluting existing holders (an inference from the share issue).
