Past year: ▼ 82%(4.00c – 22.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Mar 2013capital raising announcement▼ BadMajor
Raised $3.01 million at $0.70 a unit from 28 South American investors placed by a Peruvian broker -- half the price of six months before, and only 4.3 million of the 14.3 million units the offering had been launched for.
9 Nov 2012quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $1.9 million for the period ended 2012-09-30.
11 Sept 2012capital raising announcement▼ Bad
Three weeks after losing the Korean deal, sold another $1.5 million of stock to one investor -- 1,200,000 shares at $1.25, a further 17% below the round closed six weeks earlier.
What it means for a shareholder
1.2m new shares at $1.25 to raise about $1.5m. That's 1.9% dilution: every existing holder's slice gets 1.9% smaller. If you held $1,000 of shares (800 at the issue price), your slice goes from 0.00129% to 0.00127% of the company. To keep it you'd need 15 more shares - about $19 at the issue price.
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20 Aug 2012material agreement termination▼ BadMajor
The Korean consortium missed the extended deadline and never signed the loan agreement, so White Mountain terminated the letter of intent. The $60 million that would have carried Cerro Blanco to production never arrived, and the company went back to selling stock a million dollars at a time -- at steadily falling prices.
13 Aug 2012quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $2.2 million for the period ended 2012-06-30.
6 Aug 2012securities registration● Neutral
WHITE MOUNTAIN TITANIUM CORP filed notice of an exempt private placement.
3 Aug 2012capital raising announcement● Neutral
Sold 1,000,000 shares at $1.50 to a single investor for $1.5 million while waiting on the Korean money -- already 12% below May's price.
What it means for a shareholder
1.0m new shares at $1.50 to raise about $1.5m. That's 1.6% dilution: every existing holder's slice gets 1.6% smaller. If you held $1,000 of shares (667 at the issue price), your slice goes from 0.00109% to 0.00108% of the company. To keep it you'd need 11 more shares - about $17 at the issue price.
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9 July 2012material agreement▼ BadMajor
Rescheduled the Korean consortium's three instalments into one $10 million payment due by 17 August at their request, and made the arrangement non-exclusive -- giving away the exclusivity in exchange for a delay, eight days after the first $2 million was due.
29 June 2012material agreement▲ GoodMajor
Signed a letter of intent with Hyundai Welding and Korea Resources Corporation that would have sold 30% of the Chilean subsidiary for $60 million, with $10 million of it binding and payable in three instalments by the end of August. It was by some distance the most valuable proposal ever put in front of White Mountain shareholders.
14 May 2012quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $2.9 million for the period ended 2012-03-31.
10 May 2012capital raising announcement▲ GoodMajor
Raised $2.61 million from 48 investors at $1.70 a unit -- more than double the price of the December 2010 round and the highest price White Mountain ever sold stock at. Every subsequent raise was cheaper.
23 Mar 2012securities registration● Neutral
WHITE MOUNTAIN TITANIUM CORP filed notice of an exempt private placement.
10 Nov 2011quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $2.7 million for the period ended 2011-09-30.
18 Aug 2011quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $1.2 million for the period ended 2011-06-30.
15 Aug 2011quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $1.2 million for the period ended 2011-06-30.
22 June 2011director officer appointment▼ Bad
Raised the monthly fee for chief executive Kurtanjek and for Chairman Flower's company to $20,000 each, and disclosed that both had exercised long-dated options at $0.50 -- 600,000 and 400,000 shares respectively, granted back in 2004 and 2005.
16 May 2011quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $3.5 million for the period ended 2011-03-31.
3 May 2011securities registration● Neutral
WHITE MOUNTAIN TITANIUM CORP amended an already-effective registration statement.
29 Mar 2011capital raising announcement▲ GoodMajor
Rubicon exercised its last 4,250,000 warrants at $0.50, paying $2.13 million and closing out the 2005 financing entirely -- the largest single cash receipt in White Mountain's history to that point.
18 Jan 2011bylaws amendment● NeutralMajor
Adopted a poison pill triggered at 15% ownership, letting every holder but the bidder buy stock worth twice what they paid for it. A pre-revenue explorer with one Chilean asset putting takeover defences in place suggests the board expected an approach; none ever came, and the plan outlived the company's SEC registration.
20 Dec 2010capital raising announcement● Neutral
Raised $3.01 million of a targeted $3.5 million by selling 4,635,385 units at $0.65 to just two investors, each unit a share plus a quarter-warrant at $0.65.
What it means for a shareholder
4.6m new shares at $0.650 to raise about $3.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 Dec 2010securities registration● Neutral
WHITE MOUNTAIN TITANIUM CORP amended a filing by which it filed notice of an exempt private placement.
15 Nov 2010quarterly activities report● Neutral
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net income of $270 thousand for the period ended 2010-09-30.
4 Nov 2010securities registration● Neutral
WHITE MOUNTAIN TITANIUM CORP filed notice of an exempt private placement.
16 Sept 2010material agreement▼ BadMajor
Paid 4,000,000 shares for a sublicence over Chinuka's electrolytic process for turning titanium concentrate into titanium metal, committing to spend $5 million on it over five years, pay $200,000 a year in minimum royalties from year six and be in commercial production by year ten. The conflict is stated in the filing: President Kurtanjek, Chairman Flower and director Crosby all hold interests in Chinuka, and two of them sit on the licensor's board, so the company bought technology from its own management with a single independent director negotiating for it.
25 Aug 2010capital raising announcement● Neutral
Freeport-McMoRan, which had come onto the register as Phelps Dodge, converted its 625,000 preferred shares into 1,000,000 common -- retiring the last of the original preferred capital and leaving a straightforward 40.4 million-share structure.
16 Aug 2010quarterly activities report▼ Bad
WHITE MOUNTAIN TITANIUM CORP reported a quarterly net loss of $267 thousand for the period ended 2010-06-30.
13 Aug 2010capital raising announcement● Neutral
A three-year warrant tranche expired with under 40% taken up: holders bought 2,193,040 shares at $0.60 for $1.32 million and let 3,654,560 warrants lapse, leaving 39.4 million shares outstanding.
What it means for a shareholder
2.2m new shares at $0.600 to raise about $1.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 July 2010securities registration● Neutral
WHITE MOUNTAIN TITANIUM CORP filed the final prospectus for a registered offering.
21 June 2010securities registration● Neutral
WHITE MOUNTAIN TITANIUM CORP amended an already-effective registration statement.
