History
Shoshone Silver/Gold sold its Mexican stake, then leased its mill, bought Utah claims and a California mine, paying largely in new shares.
2008-2011: Selling Bilbao and merging
In September 2008 Shoshone sold its remaining 25% interest in the Bilbao silver-copper-zinc concessions in Zacatecas, Mexico, to Minco Plc (Xtierra Resources) for US$5 million. Minco already held the other 75%. Shoshone was to receive US$2.5 million at closing and US$500,000 within a year, with the balance paid in annual instalments starting no earlier than August 2014 and ending by August 2018, tied to mine construction. The filings do not confirm the August 2009 payment was received.
In March 2009 Shoshone finalized a merger with Kimberly Gold Mines, Inc., after the Idaho Department of Finance found the terms fair and equitable and Kimberly shareholders approved. The filing does not give the share terms. The record is then quiet until 2012; shares on issue rose from 42,659,037 at the end of 2010 to 52,926,704 at the end of 2011, though the beats do not explain why.
2012-2013: Mill lease, a lawsuit and new claims
In July 2012 Shoshone signed an option with ASX-listed Black Mountain Resources (BMZ) to lease its Lakeview District Mill for 15 years, receiving a nonrefundable $500,000. In October it settled a lawsuit brought by Scott Beggs, who had sought about $450,000, agreeing to pay $220,000 through an upfront payment, monthly instalments at 12% interest and a secured promissory note.
In November 2012 Shoshone bought Bohica Mining Corp., whose sole asset was the Imperial Mine claims in Beaver County, Utah, for 6,200,000 shares issued to John and Frances Reynolds, about 10% of the company. The claims are at exploration stage with no proven reserves. Reynolds was a director, and the claims originally came through a company controlled by CFO John Ryan, making it a related-party deal. Shares on issue rose to 60,088,371 at the end of 2012.
In February 2013 Shoshone signed the 15-year lease with BMZ subsidiary Magenta Mountain Mining Corp and sold it six patented Lakeview claims. Ryan, also BMZ's CEO, signed for Shoshone, a conflict the filing disclosed. BMZ was said to be obliged to issue 11,000,000 shares to Shoshone, but it is not a party to the lease.
2014: Gray Eagle
On March 25, 2014 Shoshone completed the purchase of the Gray Eagle Mine in Siskiyou County, California, from Independence Resources Corp., paying with 30,000,000 restricted shares, diluting existing holders. As of March 27, 2014, Shoshone held Gray Eagle, the Imperial Mine claims and the leased mill. Receipt of the BMZ shares and the Minco deferred payments remained unconfirmed.
Written from the 7 story beats below (2008 to 27 Mar 2014), which come from the company's own announcements and filings.