10 Sept 2018substantial holder notice● Neutral
JOHN D. GIBBS reported a MAGELLAN COPPER & GOLD Corp shareholding of 56,188,988 shares (44.05% of votes) in a periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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 2018quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported quarterly revenue of $123 thousand and a net loss of $572 thousand for the period ended 2018-06-30.
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.
13 Aug 2018late filing notice▼ Bad
MAGELLAN COPPER & GOLD Corp notified the SEC that its quarterly report would be filed late.
3 Aug 2018substantial holder notice● Neutral
W. PIERCE CARSON disclosed a new substantial MAGELLAN COPPER & GOLD Corp shareholding (18.30% of votes).
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.
27 July 2018director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp President W Pierce Carson received 8,905,000 shares as part of the equity award.
18 July 2018securities registration● Neutral
MAGELLAN COPPER & GOLD Corp filed notice of an exempt private placement.
26 June 2018substantial holder notice● Neutral
JOHN C. POWER reported a MAGELLAN COPPER & GOLD Corp shareholding of 11,012,330 shares (10.87% of votes) in a periodic institutional filing.
26 June 2018substantial holder notice● Neutral
JOHN D. GIBBS reported a MAGELLAN COPPER & GOLD Corp shareholding of 49,688,988 shares (43.41% of votes) in a periodic institutional filing.
21 June 2018securities registration● Neutral
MAGELLAN COPPER & GOLD Corp amended a filing by which it filed notice of an exempt private placement.
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.
14 May 2018late filing notice▼ Bad
MAGELLAN COPPER & GOLD Corp notified the SEC that its quarterly report would be filed late.
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.
1 May 2018director interest notice● Neutral
Dennis Bell became a MAGELLAN COPPER & GOLD Corp 10%+ owner and company insider (initial ownership filing).
29 Mar 2018late filing notice▼ Bad
MAGELLAN COPPER & GOLD Corp notified the SEC that its annual report would be filed late.
27 Feb 2018securities registration● Neutral
MAGELLAN COPPER & GOLD Corp amended a filing by which it filed notice of an exempt private placement.
26 Feb 2018securities registration● Neutral
MAGELLAN COPPER & GOLD Corp filed notice of an exempt private placement.
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.
20 Nov 2017quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported quarterly revenue of $0 and a net loss of $226 thousand for the period ended 2017-09-30.
14 Nov 2017late filing notice▼ Bad
MAGELLAN COPPER & GOLD Corp notified the SEC that its quarterly report would be filed late.
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 2017director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp President and CEO W Pierce Carson acquired 4,000,000 shares at $0.04 under a company stock plan.
30 Oct 2017director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp director John C /ca/ Power was credited 1,000,000 deferred share units under a company plan.