Past year: ▲ 0%(6.00c – 13.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Sept 2013material agreement▲ GoodMajor
EMC Metals agreed to sell its entire Nevada tungsten/vanadium portfolio -- Springer Mining (mine, mill, resources), Copper King and Carlin Vanadium -- to Americas Bullion Royalty Corp for $5 million cash, using the proceeds to retire a matured $3 million loan secured against Springer -- the start of the company's exit from tungsten/vanadium to focus on scandium.
3 July 2013asset acquisition disposition▲ GoodMajor
EMC Metals returned the Cosgrave Ranch property -- bought in 2008 for water rights no longer needed at Springer -- to its original owner in exchange for canceling a $3.75 million promissory note, shedding a non-core asset and a large debt at once.
19 Mar 2013capital raising announcement● NeutralMajor
EMC Metals raised $650,000 via convertible debentures (convertible at $0.05/share) secured against its Wolfram Jack Mining subsidiary and its Tordal and Hogtuva tungsten properties in Norway -- a third project region beyond Nevada and Australia. (A later 2014 filing references a February 2013 negotiated settlement of the Nyngan dispute with Jervois, resolving the 2012 litigation, though that settlement's own filing isn't among this pass's assigned rows.)
9 Oct 2012resource reserve update● Neutral
EMC Metals filed the formal NI 43-101 technical report backing the Springer Tungsten Mine's positive preliminary economic assessment.
21 Sept 2012resource reserve update▲ Good
EMC Metals announced a positive preliminary economic assessment on its 100%-owned Springer Tungsten Mine in Imlay, Nevada -- a second, wholly-owned project distinct from the disputed Nyngan scandium asset.
2 Aug 2012capital raising announcement▲ Good
EMC Metals raised $698,472 selling 11.7 million shares at $0.06 -- routine equity financing amid the ongoing Jervois litigation over Nyngan.
What it means for a shareholder
11.7m new shares at US$0.060 to raise about US$698,472. That's 7.2% dilution: every existing holder's slice gets 7.2% smaller. If you held US$1,000 of shares (16,667 at the issue price), your slice goes from 0.0111% to 0.0103% of the company. To keep it you'd need 1,294 more shares - about US$78 at the issue price.
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29 June 2012resource reserve update▼ BadMajor
Jervois escalated the Nyngan dispute, filing suit in the Supreme Court of Victoria, Australia seeking a declaration that the joint venture agreement had terminated; EMC said it would contest the claim.
6 Mar 2012resource reserve update▼ BadMajor
EMC Metals' joint-venture partner Jervois Mining rejected the company's feasibility report on the Nyngan Scandium Project and said EMC had not earned its 50% JV interest under their Feb 2010 Exploration Joint Venture Agreement, despite EMC paying the required A$1.43 million and delivering an independent NI 43-101 report on time -- the opening dispute over what would become the company's core scandium asset.
22 Feb 2012capital raising announcement▼ BadMajor
EMC Metals Corp. (later renamed Scandium International Mining Corp) borrowed $3 million secured against its Springer Mining subsidiary -- $2 million as a convertible debenture (convertible at $0.20/share) and $1 million as a promissory note, plus 3 million warrants to the lender -- a company funding multiple early-stage metal projects (tungsten, scandium) through debt rather than cash flow.
