Past year: ▼ 27%(40.0c – 94.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2023capital raising announcement● Neutral
The company said it completed the $277,000 private placement announced October 20, 2023, subject to final TSX Venture Exchange approval. The money is for about 1,000 metres of core drilling at Maestro near Houston, BC, in 2023; the shares carry a hold period to March 1, 2024. This closes the pending placement from the October 23 filing, though final exchange approval was still outstanding.
23 Oct 2023capital raising announcement● NeutralMajor
The company arranged a $277,000 flow-through private placement of 1,538,889 units at $0.18, with Chairman Robert Dickinson subscribing for 1,400,000. Proceeds are for about 1,000 meters of core drilling at the Maestro property near Houston, BC. After closing, Dickinson would hold 54.9% of 46,403,030 shares (69.4% with associates), further concentrating control.
What it means for a shareholder
1.5m new shares at C$0.180 to raise about C$277,000. That's 3.4% dilution: every existing holder's slice gets 3.4% smaller. If you held C$1,000 of shares (5,556 at the issue price), your slice goes from 0.0127% to 0.0122% of the company. To keep it you'd need 195 more shares - about C$35 at the issue price.
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28 Oct 2022capital raising announcement● NeutralMajor
Albert Basile, a lawyer, joined the board. The company also arranged a $550,000 private placement of 2,750,000 units at $0.20 with Robert and Matthew Dickinson, which would give them a control group of about 68% of voting shares. Proceeds are for permitting, exploration costs and working capital; it continues the pattern of insider-funded raises.
What it means for a shareholder
2.8m new shares at C$0.200 to raise about C$550,000. That's 6.3% dilution: every existing holder's slice gets 6.3% smaller. If you held C$1,000 of shares (5,000 at the issue price), your slice goes from 0.0122% to 0.0114% of the company. To keep it you'd need 334 more shares - about C$67 at the issue price.
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30 Mar 2020capital raising announcement● Neutral
The company said it completed the $500,000 insider private placement announced December 30, 2019, finishing that financing. It also disclosed that it issued 600,000 shares on December 6, 2019 to settle debt.
16 Jan 2020capital raising announcement● NeutralMajor
The company arranged a $500,000 private placement of 4,545,455 units at $0.11 each, sold to insiders. Each unit has one share and one five-year warrant to buy a flow-through share at $0.15. The filing says it would give Robert Dickinson a control position of about 43% (60% if warrants are exercised); the deal needs TSX Venture Exchange approval.
What it means for a shareholder
4.5m new shares at C$0.110 to raise about C$500,000. That's 58% dilution: every existing holder's slice gets 58% smaller. If you held C$1,000 of shares (9,091 at the issue price), your slice goes from 0.272% to 0.115% of the company. To keep it you'd need 12,346 more shares - about C$1,358 at the issue price.
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3 Jan 2018capital raising announcement● NeutralMajor
Quartz Mountain closed a private placement raising $458,863, to be used to assess mineral exploration projects for possible acquisition and for general corporate purposes. It also said its shares were consolidated 1-for-10 effective January 2, 2018, cutting shares outstanding from 33,470,995 to about 3,347,099; existing holders keep the same proportional stake, with fewer, higher-priced shares.
