9 Jan 2026auditor change● Neutral
Magellan Copper & Gold dismissed MaloneBailey, its auditor since the company's earliest days in 2011, and engaged M&K CPAs as its new independent accounting firm.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Mar 2025material agreement▲ GoodMajor
Now renamed Magellan Copper & Gold, the company terminated its earlier earn-in on California's Kris Mine and redirected that investment into a new joint-venture earn-in on Montana's historic Atlantic Cable Mine, where it can earn a 45% interest by spending $400,000 over two years on a property with a reported historic copper-gold resource.
11 Jan 2024material agreement▲ GoodMajor
After years of inactivity, Magellan Gold re-emerged under new management in Wallace, Idaho, agreeing to buy mineral assets and a mining lease from Gold Express Mines in exchange for 6 million shares.
20 July 2021capital raising announcement▲ GoodMajor
Eight investors exercised warrants for 1,435,000 shares at $0.20 cash, and five Series A Preferred holders converted 192,269 preferred shares (about 79% of the 2019 issuance) plus $356,123 of accrued unpaid dividends into common stock — real cash coming in at a much healthier price than the 2017-2018 toxic notes, and most of the 2019 preferred restructuring converting through, though the unpaid dividends still point to ongoing cash constraints.
23 Apr 2021capital raising announcement▼ BadMajor
Sold AJB Capital Investments a $200,000 (net $184,000) toxic convertible note priced at 90% of the lowest trading price over the preceding 20 days, plus 266,667 shares as a commitment fee — evidence the company remained financially active (not fully dormant) in early 2021 and still reliant on predatory financing.
17 July 2020capital raising announcement▼ Bad
Issued 500,000 shares to two investor-relations firms for promotional services, around the time the company was defaulting on other obligations and losing its Mexican production assets.
7 May 2020asset acquisition disposition▼ BadMajor
Magellan Gold defaulted on $1.05 million of notes and surrendered the Mexican subsidiaries holding its SDA Mill and El Dorado prospect to noteholders in full satisfaction of the debt, losing the production assets it had spent over two years building.
15 Jan 2020material agreement● NeutralMajor
Magellan Gold agreed to sell its original Silver District property in Arizona to NV Gold Corporation for cash, shares and a work commitment, refocusing entirely on its Mexican production and Santa Maria financing plans.
18 Oct 2019material agreement▲ GoodMajor
Magellan Gold agreed to a 150-day option to acquire Golden Minerals' Santa Maria gold-silver project in Chihuahua, Mexico, its third Mexican property, for $1 million cash plus a royalty.
7 Oct 2019capital raising announcement▲ GoodMajor
Restructured $2,422,694 of accumulated debt owed to five investors into 242,270 shares of new 10%-coupon Series A Convertible Preferred Stock (convertible at $1.00/share) — a major deleveraging that swapped a crushing, dilutive debt load for equity with full voting rights.
16 July 2019security holder rights change● Neutral
Magellan Gold extended the expiration of warrants from its October 2018 unit offering.
9 Nov 2018capital raising announcement▼ BadMajor
Auctus Fund converted a further $44,044 of its note into 3,850,000 shares at $0.01144/share, continuing the toxic-note dilution spiral.
6 Nov 2018capital raising announcement▼ BadMajor
Raised $205,000 through Series 2018A convertible notes and a further $160,700 through short-term notes carrying a punishing 36% annual interest rate — financing terms that signal severe financial distress.
25 Sept 2018material agreement● Neutral
Magellan Gold issued just over 1 million shares to Prospero Silver Corp as payment for access to historical drilling data on the El Dorado property.
19 Sept 2018material agreement● Neutral
EMA Financial extended the maturity of its convertible note in Magellan Gold to November 2019.
5 Sept 2018material agreement● Neutral
Magellan Gold amended a newly issued convertible note held by Power Up Lending Group.
24 Aug 2018capital raising announcement▼ BadMajor
Negotiated temporary conversion-price floors ($0.018/share through Sept 30, 2018) with both toxic noteholders EMA Financial and Auctus Fund to slow the dilution, while simultaneously selling a fourth toxic note ($38,000) to fund operations.
20 Aug 2018material agreement▲ GoodMajor
Magellan Gold's Mexican subsidiary secured exploration and purchase rights to the El Dorado gold-silver property near its SDA Mill, aiming to use it as a nearby ore source to feed the mill.
30 July 2018capital raising announcement▼ BadMajor
President W. Pierce Carson converted $98,100 of unpaid accrued salary and cash advances into stock and received a further restricted stock award, while the company sold yet another toxic convertible note ($63,000) — signs of both cash-strapped operations and continued reliance on predatory debt.
19 June 2018material agreement▼ BadMajor
Magellan Gold amended two convertible notes after falling into default, agreeing to a roughly 25% increase in principal in exchange for the noteholders' forbearance, conditioned on the company catching up on its SEC filings.
9 May 2018capital raising announcement▼ BadMajor
EMA Financial began converting its note, taking $27,225 of debt into 5,000,000 shares — the toxic-note dilution starting to materialize.
10 Jan 2018material agreement termination▼ BadMajor
Magellan Gold terminated its option to earn into Rio Silver's Niobamba project in Peru, ending its only exploration effort outside North America.
6 Dec 2017asset acquisition disposition▲ GoodMajor
Magellan Gold completed its purchase of the SDA Mill in Mexico, paying Rose Petroleum $1.5 million in cash and stock and making Rose a roughly 15% shareholder; the company also raised up to $1.5 million through a new series of secured notes to fund the deal.
8 Nov 2017material agreement▲ Good
Ahead of closing, Magellan Gold funded $50,000 to reopen the SDA Mill under an interim milling agreement, entitling it to the mill's cash flow while Rose Petroleum operated it.
7 Nov 2017capital raising announcement▼ BadMajor
One day later, sold EMA Financial a second toxic convertible note, $125,000 at 10%, with the same steeply discounted floating conversion structure.
6 Nov 2017capital raising announcement▼ BadMajor
Sold Auctus Fund a $170,000 10% convertible note priced to convert at the lesser of a fixed reference price or 65% of the lowest trading price in the 25 days before conversion — a classic 'toxic' death-spiral structure that would drive severe future dilution.
2 Nov 2017capital raising announcement● Neutral
Agreed to pay Life Sciences Journeys, Inc. 3,000,000 restricted shares as sole compensation under another stock-promotion advertising agreement.
30 Oct 2017capital raising announcement▼ Bad
Granted 3.6 million stock options to insiders and a 4-million-share restricted award to President W. Pierce Carson, and amended its Articles of Incorporation to raise authorized capital to 1 billion common shares and 25 million preferred shares — a large capacity increase that would shortly be needed for a wave of toxic convertible-note dilution.
18 Oct 2017material agreement● Neutral
Magellan Gold restructured its SDA Mill purchase to acquire shares of a newly formed Mexican holding company instead of the assets directly, pushing the closing date to the end of December 2017.
11 Oct 2017material agreement termination▼ Bad
Magellan Gold voided its consulting and advertising agreements with Bright Star International and clawed back the 1.5 million shares it had issued as compensation.