12 Nov 2013quarterly activities report▼ Bad
NextSource Materials Inc. reported a quarterly net loss of $1.8 million for the period ended 2013-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 Oct 2013agm notice● Neutral
NextSource Materials Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
14 Aug 2013securities registration● Neutral
NextSource Materials Inc. filed notice of an exempt private placement.
2 Aug 2013capital raising announcement● Neutral
The company closed a non-brokered private placement raising CAD$837,500 and US$1,230,000 through 16,950,001 common shares, paying cash fees of CAD$57,750 and US$21,600 plus 582,000 broker warrants. Completion is still subject to final regulatory approval including the TSX. Another round of share issuance, following the March 2013 placement.
What it means for a shareholder
17.0m new shares at about C$0.0494 to raise about C$837,500. That's 8.8% dilution: every existing holder's slice gets 8.8% smaller. If you held C$1,000 of shares (20,239 at the issue price), your slice goes from 0.0115% to 0.0105% of the company. To keep it you'd need 1,954 more shares - about C$97 at the issue price.
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3 June 2013auditor change● Neutral
The company's auditor MSCM LLP merged into MNP LLP effective June 1, 2013, and the board appointed MNP as auditor for the year ending June 30, 2013. The filing says no disagreements with MSCM, and that MSCM's reports for fiscal 2008 to 2012 each included a going-concern explanatory paragraph, confirming the long-running going-concern doubt.
10 May 2013quarterly activities report▼ Bad
NextSource Materials Inc. reported a quarterly net loss of $2.7 million for the period ended 2013-03-31.
2 Apr 2013capital raising announcement● Neutral
On March 26, 2013 the company closed a CAD$2,358,000 non-brokered private placement of 12,350,000 common shares. It paid a CAD$86,000 cash fee and issued 270,000 broker warrants at CAD$0.20 for 12 months. This adds new shares to the count.
19 Feb 2013quarterly activities report▼ Bad
NextSource Materials Inc. reported a quarterly net loss of $1.3 million for the period ended 2012-12-31.
13 Feb 2013quarterly activities report▼ Bad
NextSource Materials Inc. reported a quarterly net loss of $1.3 million for the period ended 2012-12-31.
18 Jan 2013agm notice● Neutral
NextSource Materials Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
14 Nov 2012quarterly activities report▼ Bad
NextSource Materials Inc. reported a quarterly net loss of $2.7 million for the period ended 2012-09-30.
14 Nov 2012listing compliance notice▼ Bad
NextSource Materials Inc. withdrew a registration statement, abandoning the offering it covered.
24 Sept 2012securities registration● Neutral
NextSource Materials Inc. filed the final prospectus for a registered offering.
29 May 2012securities registration● Neutral
NextSource Materials Inc. registered a securities offering with the SEC.
15 May 2012securities registration● Neutral
NextSource Materials Inc. filed the final prospectus for a registered offering.
15 May 2012quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $3.4 million for the period ended 2012-03-31.
14 May 2012quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $3.4 million for the period ended 2012-03-31.
14 Feb 2012securities registration● Neutral
NextSource Materials Inc. filed the final prospectus for a registered offering.
14 Feb 2012quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $6.5 million for the period ended 2011-12-31.
15 Dec 2011capital raising announcement▲ GoodMajor
On December 14, 2011 the company signed the definitive joint venture agreement with Malagasy Minerals that followed the October heads of agreement, forming Madagascar-ERG Joint Venture (Mauritius) Ltd, 75% company and 25% Malagasy. Malagasy is to receive US$2,000,000 in cash and 7,500,000 company shares, and can appoint one board member; the deal remains subject to TSX and SEC approvals. The filing no longer mentions the due diligence condition, which the October filing stated.
29 Nov 2011agm notice● Neutral
NextSource Materials Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
17 Nov 2011agm notice● Neutral
NextSource Materials Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
14 Nov 2011quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $3.2 million for the period ended 2011-09-30.
14 Nov 2011securities registration● Neutral
NextSource Materials Inc. filed the final prospectus for a registered offering.
11 Oct 2011material agreement▲ GoodMajor
On October 5, 2011 the company signed a binding Heads of Agreement with Australia's Malagasy Minerals to form a joint venture company owned 75% by the company and 25% by Malagasy, to explore for vanadium and other industrial minerals on a new 2,119-claim, 827.7 sq km land position next to the Green Giant property. Malagasy is to receive a US$250,000 non-refundable deposit, then US$2,000,000 and 7,500,000 company shares if definitive agreements are signed and due diligence is completed; TSX approval is also required. The company would manage operations, and Malagasy is free-carried until a bankable feasibility study.
13 May 2011quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $822 thousand for the period ended 2011-03-31.
13 May 2011securities registration● Neutral
NextSource Materials Inc. filed the final prospectus for a registered offering.
17 Mar 2011securities registration● Neutral
NextSource Materials Inc. filed the final prospectus for a registered offering.
14 Feb 2011quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $963 thousand for the period ended 2010-12-31.
10 Feb 2011capital raising announcement● NeutralMajor
The company reported that on February 2, 2011, 25,369,433 units were subscribed at US$0.45 for US$11,416,245 gross. Each unit has one share and a half warrant exercisable at US$0.75 for 24 months. Finders received US$460,800 in cash and 1,023,999 compensation warrants. This is the main part of the early-2011 raise, following the March 2010 placement at US$0.30, and it issues many new shares.