21 Nov 2011quarterly activities report▼ Bad
SOUTH AMERICAN GOLD CORP. reported a quarterly net loss of $335 thousand for the period ended 2011-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 Nov 2011late filing notice▼ Bad
SOUTH AMERICAN GOLD CORP. notified the SEC that its quarterly report would be filed late.
29 Sept 2011late filing notice▼ Bad
SOUTH AMERICAN GOLD CORP. notified the SEC that its annual report would be filed late.
17 May 2011late filing notice▼ Bad
SOUTH AMERICAN GOLD CORP. notified the SEC that its quarterly report would be filed late.
29 Apr 2011asset acquisition disposition● NeutralMajor
On April 25, 2011 the company amended the Kata purchase agreement, paying the seller an extra $50,000 for the 25% stake (on top of the $500,000) and changing the terms of the options on the other 75%. The 50% option now involves $450,000 plus $1,000,000 in cash and 2,000,000 shares, tied to registration of the concessions and no later than March 2, 2012; the 75% and 100% options are each $1,000,000 plus 1,000,000 shares. The Kata deal still had not closed, and the forestry reserve overlap and the fallback of getting back only the $500,000 remain.
8 Apr 2011capital raising announcement● NeutralMajor
On March 30, 2011 the company sold 5,800,000 units at $0.25 each to eight non-U.S. investors, raising $1,450,000. Each unit is one share plus a warrant to buy another share at $0.50, exercisable from six months after issue until one year after closing, so existing shareholders are diluted by the new shares and potentially by the warrants. The filing calls this the initial closing and does not say what the money is for.
What it means for a shareholder
5.8m new shares at US$0.250 to raise about US$1.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
2 Mar 2011material agreement● NeutralMajor
On February 25, 2011 the company agreed with Minera Kata S.A. to buy 25% of Kata Enterprises Inc. (Panama), paying $500,000 cash at closing, with options to buy the other 75%. Kata is meant to acquire an 85% interest in mining concessions in Nariño, Colombia, but had not closed that deal; the filing says the concession area overlaps a forestry reserve that would need reclassifying before significant exploration or mining, and the company warns the investment could be worthless if that fails. If the concessions are not registered to Kata by February 25, 2012, the seller must hand over 100% of Kata and the company is entitled to the $500,000 back.
14 Feb 2011quarterly activities report▼ Bad
SOUTH AMERICAN GOLD CORP. reported a quarterly net loss of $88 thousand for the period ended 2010-12-31.
15 Nov 2010quarterly activities report● Neutral
SOUTH AMERICAN GOLD CORP. reported a quarterly net income of $39 thousand for the period ended 2010-09-30.
28 Sept 2010late filing notice▼ Bad
SOUTH AMERICAN GOLD CORP. notified the SEC that its annual report would be filed late.
23 Aug 2006director interest notice● Neutral
Alexander J Ibsen became a SOUTH AMERICAN GOLD CORP. CEO and President and company insider (initial ownership filing).
31 July 2006securities registration● Neutral
SOUTH AMERICAN GOLD CORP. filed the final prospectus for a registered offering.
17 July 2006securities registration● Neutral
SOUTH AMERICAN GOLD CORP. amended a filing by which it registered a small-business securities offering with the SEC.
26 June 2006securities registration● Neutral
SOUTH AMERICAN GOLD CORP. amended a filing by which it registered a small-business securities offering with the SEC.
18 May 2006securities registration● Neutral
SOUTH AMERICAN GOLD CORP. amended a filing by which it registered a small-business securities offering with the SEC.
3 May 2006securities registration● Neutral
SOUTH AMERICAN GOLD CORP. amended a filing by which it registered a small-business securities offering with the SEC.
24 Mar 2006securities registration● Neutral
SOUTH AMERICAN GOLD CORP. registered a small-business securities offering with the SEC.