14 July 2025capital raising announcement▲ Good
Underwriters exercised the over-allotment in full for a further 5,000,100 shares and US$15.0 million, taking the June offering to US$115.0 million gross.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 June 2025capital raising announcement▲ GoodMajor
Raised US$100.0 million gross, selling 33,334,000 shares at US$3.00 - the first offering priced in US dollars in this record, against C$2.60 nine months earlier.
What it means for a shareholder
33.3m new shares at US$3.00 to raise about US$100m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held US$1,000 of shares (333 at the issue price), your slice goes from 0.000112% to 0.0001% of the company. To keep it you'd need 37 more shares - about US$111 at the issue price.
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30 Apr 2025capital raising announcement● Neutral
Doubled the at-the-market facility from US$100 million to US$200 million. Still capacity rather than money raised, but it is the amount of dilution the company has pre-authorised itself to take.
25 Sept 2024capital raising announcement▲ Good
Underwriters took up the over-allotment in full, adding 3,750,000 shares and C$9.75 million to bring the September bought deal to C$74.75 million gross.
19 Sept 2024capital raising announcement▲ GoodMajor
Raised C$65 million gross, selling 25,000,000 shares at C$2.60 - a 73% higher price than the C$1.50 paid in February, the re-rating coming between the January resource update and July's economic assessment.
What it means for a shareholder
25.0m new shares at C$2.60 to raise about C$65.0m. That's 9.7% dilution: every existing holder's slice gets 9.7% smaller. If you held C$1,000 of shares (385 at the issue price), your slice goes from 0.000165% to 0.000149% of the company. To keep it you'd need 41 more shares - about C$107 at the issue price.
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16 Sept 2024capital raising announcement● Neutral
Put a US$100 million at-the-market facility in place with Canaccord, CIBC, National Bank and BMO, allowing shares to be sold into the market as needed. Capacity, not cash raised.
4 Mar 2024capital raising announcement● NeutralMajor
Raised C$34.5 million gross, selling 23,000,000 shares at C$1.50 with the over-allotment taken in full. The same gross amount as the November 2022 deal, at a slightly higher price and this time with no warrant attached - but still below the C$1.65 paid in February 2023, despite the resource having roughly tripled since the maiden estimate.
What it means for a shareholder
23.0m new shares at C$1.50 to raise about C$34.5m. That's 10.0% dilution: every existing holder's slice gets 10.0% smaller. If you held C$1,000 of shares (667 at the issue price), your slice goes from 0.000321% to 0.000289% of the company. To keep it you'd need 74 more shares - about C$111 at the issue price.
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10 Feb 2023capital raising announcement▲ GoodMajor
Raised C$45.0 million in a private placement of 27,286,050 shares at C$1.65, agents led by PI Financial taking a 6% cash commission plus 1,637,163 compensation options. Priced 14% above the November 2022 unit deal and, this time, without a warrant attached.
15 Nov 2022capital raising announcement▲ GoodMajor
Raised C$34.5 million gross, selling 23,805,000 units at C$1.45 with the over-allotment taken in full. Each unit carried half a warrant exercisable at C$2.00 to November 2024, so a further C$23.8 million could follow if the shares clear that price.
What it means for a shareholder
23.8m new shares at C$1.45 to raise about C$34.5m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held C$1,000 of shares (690 at the issue price), your slice goes from 0.000445% to 0.000386% of the company. To keep it you'd need 106 more shares - about C$154 at the issue price.
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