23 Feb 2006capital raising announcement▲ GoodMajor
The final $2.3m of the $6m placement closed at the same 30 cents. For the first time the money is earmarked for something other than clearing old obligations: the Mesquite mine feasibility study.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 Oct 2005capital raising announcement▼ Bad
With the shares trading at a fraction of the $1.00 exercise price, Western Goldfields extended 14.7 million expiring warrants by a year rather than let them lapse. It brings in no money now and keeps the dilution overhang in place; the warrants date from the 2003 placement and the RMB credit facility.
6 Jan 2005capital raising announcement● NeutralMajor
London fund RAB Special Situations put $500,000 into a new class of preferred shares ranking ahead of the ordinary stock, paying a cumulative 7.5% dividend and voting alongside the common shares. A small cheque bought seniority and votes -- an early measure of how thinly funded the company was.