6 Mar 2015material agreement● Neutral
The company raised about $5.4 million selling stock and warrants at $1.50 per unit through Roth Capital.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Mar 2015capital raising announcement▼ Bad
The company raised $6 million in another registered direct offering, at $1.50 per unit with attached warrants - a lower price and richer warrant coverage than its 2014 raise, reflecting a weaker stock.
12 Nov 2014asset acquisition disposition▲ GoodMajor
The Rio Grande Resources land swap closed, and the company said it plans a 2015 drilling program at its newly acquired Alta Mesa Este project.
9 Sept 2014material agreement▲ GoodMajor
The company agreed to swap two New Mexico mineral properties and some royalty interests for Rio Grande Resources' South Texas uranium ground -- the Alta Mesa Este, Sejita Dome and Butler Ranch projects covering about 8,800 acres -- re-entering South Texas with different assets than the ones it had just walked away from.
30 Apr 2014capital raising announcement▼ BadMajor
Lender RCF cut the size of its 2013 convertible loan facility from $15 million to $8 million but then advanced the full remaining $8 million immediately, convertible into stock at $2.60/share; the company separately settled a lawsuit with its former CFO by issuing him stock.
5 Mar 2014material agreement termination▼ BadMajor
With Cameco already gone, Uranium Resources itself terminated the underlying lease option covering the Kenedy County ground, closing out its South Texas exploration push entirely.
12 Feb 2014material agreement● Neutral
The company raised about $9.4 million selling 3.96 million shares at $2.60 through a registered direct offering.
7 Feb 2014capital raising announcement● Neutral
The company raised $10.3 million selling 3.96 million shares at $2.60 in a direct offering to institutional investors, on top of its existing small at-the-market stock-sale program with BTIG.
What it means for a shareholder
4.0m new shares at US$2.60 to raise about US$10.3m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held US$1,000 of shares (385 at the issue price), your slice goes from 0.00194% to 0.00162% of the company. To keep it you'd need 77 more shares - about US$200 at the issue price.
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5 Dec 2013material agreement termination▼ BadMajor
Cameco walked away from its South Texas exploration joint venture in Kenedy County after the ground failed to produce significant uranium finds, ending the earn-in it had expanded just a year earlier.
19 Nov 2013financial restatement▼ BadMajor
The company said it would restate three years of financials (2010-2012) plus 2013 quarters after the SEC challenged its practice of capitalizing mine-development costs before proven reserves were declared, cutting reported plant and equipment value by about $9 million.
19 Nov 2013debt financing▼ BadMajor
Resource Capital Fund extended a new $15 million secured convertible loan facility, with $3 million drawn immediately, deepening the company's reliance on RCF as both lender and major shareholder.
18 July 2013material agreement termination▲ GoodMajor
Under new CEO Christopher Jones, the company replaced its decade-old uranium supply contract with ITOCHU with better pricing terms, a step toward restarting production in Texas.
7 Mar 2013capital raising announcement▼ BadMajor
Lender Resource Capital Fund V exercised rights to buy about $5 million more stock at $2.55/share, paying for it by offsetting its existing bridge loan, which pushed RCF's ownership stake from 28% to almost 33%.
22 Jan 2013listing compliance notice▼ BadMajor
The company executed a 1-for-10 reverse stock split, mandated by its RCF bridge loan, to fix its Nasdaq minimum-price problem, but Nasdaq still moved to delist it and the company had to appeal to a hearing panel.
7 Jan 2013material agreement▲ GoodMajor
Cameco expanded its South Texas exploration joint venture with Uranium Resources, committing $4.3 million for a 70% stake and adding the 22,700-acre Tecolote tract to the program.
3 Jan 2013resource reserve update▲ GoodMajor
A feasibility study confirmed the Church Rock Section 8 uranium deposit in New Mexico could be mined economically using in-situ recovery, a positive technical read despite the ongoing Navajo Nation access dispute.
19 Dec 2012debt financing▼ BadMajor
Resource Capital Fund provided a $5 million secured bridge loan, conditioned on the company holding a reverse stock split and completing a rights offering by early 2013 to fix its Nasdaq minimum-price problem.
3 Oct 2012listing compliance notice▼ BadMajor
CEO Don Ewigleben resigned and board member Terence Cryan stepped in as interim President and CEO; because Cryan is no longer independent, the board and audit committee fell out of Nasdaq's independence rules, with a year to fix it.
30 Aug 2012business combination▲ GoodMajor
Uranium Resources' shareholders approved issuing the 37 million shares needed for the Neutron Energy merger, with the deal expected to close within days.
24 Aug 2012business combination▲ GoodMajor
Neutron Energy's own shareholders approved the merger with 99.9% of votes cast in favor, clearing one of the two votes needed to close the deal.
31 July 2012material agreement● NeutralMajor
The company's Church Rock subsidiary settled a trespass dispute with the Navajo Nation, gaining temporary site access for permitting work in exchange for agreeing to remediate existing radioactive contamination before mining could start.
22 June 2012business combination● Neutral
The amendment set 23 July 2012 as the record date and put figures on what URI is taking on with Neutron: $28.2 million of senior debt net of costs, plus payables and accrued expenses of $472,000, against about $1.69 million of transaction costs for the deal itself.
22 June 2012business combination● Neutral
Uranium Resources scheduled an August 29, 2012 special meeting for stockholders to vote on issuing shares for the Neutron Energy merger.
14 May 2012business combination● Neutral
The company filed the S-4 registration statement covering the new shares to be issued to Neutron Energy shareholders in the pending all-stock merger.
30 Mar 2012business combination● Neutral
Neutron Energy sent its own shareholders a letter recapping the merger terms and disclosing that RCF had already bought $10 million of Uranium Resources stock to help fund the deal; no new terms changed.
7 Mar 2012business combination▲ GoodMajor
The formal Neutron Energy merger agreement and financing package were filed: 37 million new shares in total, a $20 million equity investment from Resource Capital Fund, and a credit facility to keep Neutron funded until closing.
5 Mar 2012business combination● Neutral
The company circulated an investor presentation on the pending Neutron Energy merger; no new terms were disclosed.
2 Mar 2012business combination▲ GoodMajor
Uranium Resources agreed to acquire Neutron Energy in an all-stock deal, gaining Neutron's Cebolleta and Juan Tafoya uranium properties in New Mexico's Grants Mineral Belt, with Resource Capital Fund putting in $20 million to help retire Neutron's debt.
31 Oct 2011material agreement● Neutral
The company set up an at-the-market facility letting it sell up to $15 million of stock over time through BTIG, a standing option rather than an immediate raise.
13 May 2011farm in farm out agreement▲ GoodMajor
Cameco Texas formalized the South Texas earn-in floated in January, agreeing to fund exploration on the Kenedy County acreage for up to a 70% stake, while the company also reported first-quarter results and a new state drilling permit.