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Veris Gold Corp.

TSX:VG
No current share price held for this company.
No price history held for this listing yet.
Market cap
—
Shares on issue
—
Story beats
6 since 2013
Last event
19 June 2014

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

18 Nov 2013capital raising announcement● NeutralMajor

Veris announced another marketed public offering, this one Canada-only: units at $0.475 and flow-through units at $0.525, each with a quarter warrant exercisable at $0.60 for 36 months, with closing expected by November 27, 2013. Proceeds are to cover payments under the forward gold purchase agreement, the Jerritt Canyon dry mill upgrade, Saval 4 development, Ketza River exploration, reclamation bonding and working capital. The release is signed by François Marland as President and CEO, replacing R. Llee Chapman, who signed the earlier releases. Further share issuance would dilute existing holders.

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9 Sept 2013capital raising announcement● NeutralMajor

Veris reported August 2013 production of 16,699 ounces of gold from Jerritt Canyon (including 2,138 ounces from toll milling for Newmont) at 85% recovery, and a 145,000-ounce target for the year. It said Saval 4 is on hold until 2014 and that debt refinancing talks are ongoing, with results expected in the fourth quarter. It also proposed a private placement of up to 15,000,000 units at $0.52 (up to $7.8 million), each with one common share and a half warrant exercisable at $0.60 for 36 months; the text is cut off before the remaining agent terms. Saval 4 being on hold conflicts with the earlier August plan to use offering money for its development, and the later 2014 start date in the context shows it was pushed back.

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9 Aug 2013capital raising announcement● Neutral

A repeat filing of the August 8, 2013 press release announcing the public offering of units and flow-through units, with the same terms and use of proceeds. It adds nothing new beyond the earlier filing.

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8 Aug 2013capital raising announcement● NeutralMajor

Veris announced a marketed public offering of units (a common share plus half a warrant) and flow-through units, sold through agents led by Secutor Capital Management, with closing expected by August 15, 2013. Price and size were not set; the money is meant for the Jerritt Canyon mill upgrade, Saval 4 underground development, reclamation bonding and working capital, with flow-through money for Ketza River exploration. New shares would dilute existing holders.

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