2 Jan 2014material agreement● Neutral
Magellan Gold's board increased its revolving credit line from investor John Gibbs from $250,000 to $750,000.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Nov 2013quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported a quarterly net loss of $64 thousand for the period ended 2013-09-30.
27 Aug 2013substantial holder notice● Neutral
JOHN C. POWER reported a MAGELLAN COPPER & GOLD Corp shareholding of 10,374,300 shares (21.22% of votes) in a periodic institutional filing.
27 Aug 2013director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp President John C /ca/ Power sold 90,000 shares.
26 Aug 2013farm in farm out agreement● Neutral
Magellan Gold announced the amended Silver District option terms with Columbus Exploration in a press release.
23 Aug 2013material agreement● NeutralMajor
Magellan Gold amended its option to acquire the Silver District property in Arizona from Columbus Silver, deferring its escalating option payments - $400,000 due by the end of 2014 and $500,000 by the end of 2015 - while committing to keep the claims in good standing regardless of whether the option is ultimately exercised.
7 Aug 2013quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported a quarterly net loss of $47 thousand for the period ended 2013-06-30.
10 May 2013quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported a quarterly net loss of $65 thousand for the period ended 2013-03-31.
29 Mar 2013late filing notice▼ Bad
MAGELLAN COPPER & GOLD Corp notified the SEC that its annual report would be filed late.
4 Feb 2013debt financing● Neutral
Magellan Gold's board approved a $250,000 revolving credit facility from investor John Gibbs to fund operations.
4 Feb 2013debt financing● Neutral
Magellan Gold also amended its 2011 promissory note to President John Power, changing its maturity to 30 days' written demand.
14 Nov 2012quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported a quarterly net loss of $199 thousand for the period ended 2012-09-30.
29 Oct 2012quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported a quarterly net loss of $199 thousand for the period ended 2012-09-30.
24 Oct 2012substantial holder notice● Neutral
JOHN D. GIBBS reported a MAGELLAN COPPER & GOLD Corp shareholding of 37,043,041 shares (75.83% of votes) in a periodic institutional filing.
24 Oct 2012director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp 10%+ owner John D Gibbs bought 200,000 shares on the open market at $0.15.
23 Oct 2012capital raising announcement▲ Good
Raised $30,000 at $0.15/share — a much higher price than the $0.01 rounds earlier in the year, reflecting an improved share price following the Silver District acquisition.
5 Oct 2012capital raising announcement● Neutral
Issued 20,000 shares to a service provider in lieu of a $3,000 cash payment.
31 Aug 2012director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp 10%+ owner John D Gibbs bought 1,164,091 shares on the open market.
31 Aug 2012substantial holder notice● Neutral
JOHN D. GIBBS reported a MAGELLAN COPPER & GOLD Corp shareholding of 36,843,041 shares (75.73% of votes) in a periodic institutional filing.
30 Aug 2012capital raising announcement▲ GoodMajor
Optioned the Silver District property (108 unpatented claims plus patented/state leases, over 2,000 acres in La Paz County, Arizona) from Columbus Silver for staged payments of $63,200 now, $50,000 by year-end 2012, $400,000 by end-2013 and $500,000 by end-2014 — the company's first real mineral asset, with the initial payment funded by a matching equity sale.
8 Aug 2012quarterly activities report▼ Bad
MAGELLAN COPPER & GOLD Corp reported a quarterly net loss of $93 thousand for the period ended 2012-06-30.
17 July 2012substantial holder notice● Neutral
JOHN D. GIBBS reported a MAGELLAN COPPER & GOLD Corp shareholding of 35,678,950 shares (75.11% of votes) in a periodic institutional filing.
17 July 2012director interest notice● Neutral
John D Gibbs became a MAGELLAN COPPER & GOLD Corp 10%+ owner and company insider (initial ownership filing).
16 July 2012capital raising announcement▲ Good
Raised $30,000 (3,000,000 shares at $0.01) from a single accredited investor.
29 June 2012director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp 10%+ owner John D Gibbs bought 1,500,000 shares on the open market at $0.01.
29 June 2012substantial holder notice● Neutral
JOHN D. GIBBS reported a MAGELLAN COPPER & GOLD Corp shareholding of 32,162,450 shares (79.41% of votes) in a periodic institutional filing.
29 June 2012capital raising announcement▲ Good
Raised $15,000 (1,500,000 shares at $0.01) from a single accredited investor.
What it means for a shareholder
1.5m new shares at US$0.010 to raise about US$15,000. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held US$1,000 of shares (100,000 at the issue price), your slice goes from 0.263% to 0.253% of the company. To keep it you'd need 3,947 more shares - about US$39 at the issue price.
Create a free account to see this worked out for your own holding.
19 June 2012material agreement termination▼ Bad
Magellan Gold let its option on the Cowles Trust's Arizona mining lease lapse, walking away from the property.
1 June 2012substantial holder notice● Neutral
JOHN D. GIBBS reported a MAGELLAN COPPER & GOLD Corp shareholding of 30,662,450 shares (75.71% of votes) in a periodic institutional filing.
1 June 2012director interest notice● Neutral
MAGELLAN COPPER & GOLD Corp director John D Gibbs bought 2,500,000 shares on the open market at $0.01.