31 July 2019material agreement● Neutral
The board adopted a 2019 Stock Option Plan authorizing up to 9.5 million shares in options for officers, directors, consultants and agents.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Oct 2016auditor change● Neutral
Peterson Sullivan declined reappointment as auditor after deciding to deregister from the Canadian accountability board Patriot's Canadian filings required, not over any dispute; the company engaged Fruci & Associates II.
19 May 2016asset acquisition disposition▲ GoodMajor
With Northern Vertex having completed its 70% earn-in at Moss Mine, Patriot Gold sold its remaining 30% working interest to Northern Vertex's subsidiary Golden Vertex Corp for C$1.5 million cash while keeping a 3% net smelter royalty - a full exit from its flagship project into a cash-plus-royalty position.
22 July 2014auditor change▼ Bad
Patriot Gold dismissed auditor Robison, Hill & Co (no disagreements, but going-concern doubt flagged in the prior two years) and engaged Peterson Sullivan.
22 Feb 2013resource reserve update▲ GoodMajor
Patriot Gold reported the Moss Mine project on track: infill drilling and bulk sampling were advancing a three-phase development plan, a Preliminary Economic Assessment was due in March, and pilot-scale production was targeted for the following quarter.
30 Mar 2011material agreement▲ GoodMajor
Northern Vertex Mining Corp. agreed to earn a 70% interest in Patriot Gold's Moss Mine gold-silver project in Mohave County, Arizona - paying Patriot $500,000 up front and committing to spend $8 million on exploration over five years before the two would form a 70/30 joint venture.
7 Jan 2011farm in farm out agreement▼ BadMajor
Patriot Gold terminated all four of its MinQuest-linked Nevada properties - Whiskey Flat, NK, Wheepah and Imperial - which had been assigned to its subsidiary Provex Resources, ending its relationship with MinQuest entirely.
1 Apr 2009material agreement▲ GoodMajor
The company optioned a new property - 28 patented claims and millsites in Nye County, Nevada - from American International Ventures, paying $30,000 up front against a payment schedule escalating to a $1.185 million balloon payment in 2016 to fully earn the ground.
5 Aug 2008material agreement▼ BadMajor
Just six months after paying $200,000 for it, Patriot Gold walked away from the Margarita Property in Arizona, terminating the option and losing its stake entirely.
3 June 2008material agreement▲ GoodMajor
Patriot Gold paid $250,000 to acquire American Goldfields' option on the Imperial Property (22 unpatented claims, Esmeralda County, Nevada) - itself originally optioned from MinQuest in 2004 - adding a fourth Nevada property to its portfolio.
20 Mar 2008material agreement▲ GoodMajor
The company optioned three Nevada gold properties from MinQuest in one day - the Whiskey Flat (83 claims), NK (24 claims) and Wheepah (14 claims) projects - each requiring escalating annual payments and exploration spending starting at $50,000.
1 Feb 2008material agreement▲ GoodMajor
Patriot Gold paid $200,000 to acquire American Goldrush Corp.'s option on the Margarita Property, 39 unpatented claims in the Oro Blanco district of Santa Cruz County, Arizona - its first Arizona gold property.
15 Mar 2006material agreement● Neutral
Patriot Gold restructured founder equity: officers Robert Coale and Robert Sibthorpe each received options on 200,000 shares at $0.25 while giving the company buy-back rights over their existing 3 million shares apiece at $0.01/share, and the company separately bought back Ronald Blomkamp's 3 million shares for $30,000 total.
30 July 2003capital raising announcement● NeutralMajor
Bruce Johnstone resigned as director and officer and Ronald Blomkamp took over as President, CEO, CFO and Secretary; the same week the company closed a $367,500 private placement (350,000 units at $1.05, with warrants exercisable at escalating prices up to $1.55).
What it means for a shareholder
350,000 new shares at US$1.05 to raise about US$367,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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