Each one in plain English, with the numbers worked through for a shareholder.
4 Nov 2025capital raising announcement▲ Good
Closed a $2.5M private placement (10M units at $0.25, warrants at $0.40) -- continuing the trend of larger raises at improved pricing.
What it means for a shareholder
10.0m new shares at US$0.250 to raise about US$2.5m. That's 9.7% dilution: every existing holder's slice gets 9.7% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.00429% to 0.00387% of the company. To keep it you'd need 429 more shares - about US$107 at the issue price.
Signed a new, more modest deal for South Mountain: MFD Investment Holdings can earn a 10% project interest by spending $1M on exploration by October 2026, and will fund 100% of the capital needed to reach small-scale production, splitting revenue 80/20 in MFD's favor until it recoups 1.5x its investment, then 50/50 -- a concrete near-term path to cash flow after the larger BeMetals option collapsed.
Closed a $1.2M private placement (10M units, $0.18 warrants) -- a larger raise at a healthier implied price than the company's typical penny-stock financings of the prior decade, in the post-BeMetals era.
Opened a new private placement (5.36M units at $0.14, warrants at $0.20) to accredited investors.
What it means for a shareholder
5.4m new shares at US$0.140 to raise about US$750,400. That's 8.9% dilution: every existing holder's slice gets 8.9% smaller. If you held US$1,000 of shares (7,143 at the issue price), your slice goes from 0.013% to 0.0118% of the company. To keep it you'd need 695 more shares - about US$97 at the issue price.
Closed a $487,500 private placement (9.75M units at $0.05) for exploration and working capital.
What it means for a shareholder
9.8m new shares at US$0.050 to raise about US$487,500. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held US$1,000 of shares (20,000 at the issue price), your slice goes from 0.0529% to 0.042% of the company. To keep it you'd need 5,156 more shares - about US$258 at the issue price.
15 Nov 2012capital raising announcement▲ GoodMajor
Formed the Owyhee Gold Trust LLC joint venture with Idaho State Gold Company for South Mountain, and cancelled the $1M secured note from May 2012 -- its principal credited instead to ISGC's capital account in the new JV, removing the all-assets lien and default risk.
Took a $1M secured convertible note from Idaho State Gold Company (ISGC) -- a related party, since director G. Peter Parsley is also employed by ISGC -- tied to a proposed South Mountain joint venture; the note carried 8% interest and a first-priority lien over all company assets, a real default-risk exposure until the JV closed.
The terms behind the CAD$204,000 placement reported the day before: 1.2 million units at 17 Canadian cents, each carrying a two-year warrant at 20 cents that the company can force to be exercised if the shares hold above 25 cents for a month. Priced above where its own directors had been buying in the market that autumn.
Closed a small CAD$204,000 private placement; separately, the board ratified a Letter of Intent with Green River Energy Corporation regarding a possible transaction that does not appear to have been carried forward.
20 May 2011capital raising announcement▲ GoodMajor
Launched a much larger CAD$4.5M offering (up to 18M units) to fund South Mountain and the company's new Trout Creek/Reese River Valley exploration joint venture with Newmont in Nevada -- a real validation from a major gold producer.
Began trading on the TSX Venture Exchange (ticker THM) and closed out the CAD$1.24M private placement, with proceeds earmarked for exploration at South Mountain.
Launched a CAD$1.2M offering (6M units) tied to an planned TSX Venture Exchange listing, with the first tranche of 1.46M units (~CAD$292,000) closing immediately.
A correction to July's placement closing: a banking error meant the company had actually taken in $555,000, not the $550,000 reported, from 2,775,000 units. Pennaluna & Company placed about 60% of it for a $33,000 commission.
Raised $125,000 through an insider-only private placement (directors, management and consultants) at $0.05/share, with a 36-month lockup on the shares.
