Past year: ▼ 28%(2.31 – 3.49 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Nov 2012resource reserve update▲ GoodMajor
Published its first formal NI 43-101 resource estimate for the Kibi project - 278,000 ounces Indicated and 147,000 ounces Inferred gold across five deposits (Big Bend, East Dyke, Mushroom, South Ridge and Double 19) - putting a real, independently verified number on years of drilling.
15 Oct 2012business combination▲ Good
The second amendment firmed up the tax position holders were relying on: the continuation "should be" treated as a tax-free reorganisation became "will be", with the Section 368(a)(1)(F) authority now cited. The company's Toronto office address also changed.
28 Sept 2012business combination● NeutralMajor
The amendment set the vote -- a 10 October 2012 record date for a special meeting on 16 November -- and, in the same document, published results from the 2012 drill programme: 53 diamond core holes over 8,810 metres across the Double 19 shoot, South Ridge and the Kibi Old Mine prospect, reported against a 0.25 gramme-per-tonne gold cut-off with true widths unknown.
17 Aug 2012business combination● Neutral
Filed to reorganize from a Nevada corporation into a British Virgin Islands company via a share-for-share "continuation" - a jurisdictional change, not a change in ownership or the underlying Ghana gold business.
8 Dec 2010drilling result▲ GoodMajor
Now dual-listed on the TSX and OTC Bulletin Board, reported Phase III diamond drilling results from Kibi's Central Granitoid body, including 27 meters grading 4.03 g/t gold.
24 Nov 2010capital raising announcement▲ GoodMajor
Completed an initial public offering to Canadian investors, raising CAD$10.925 million (8.09 million shares at CAD$1.35) through a Haywood-led syndicate, and began trading on the Toronto Stock Exchange - a major step up from its OTC Bulletin Board-only listing.
What it means for a shareholder
8.1m new shares at C$1.35 to raise about C$10.9m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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8 June 2010capital raising announcement● Neutral
Closed the $250,000 placement in full.
7 June 2010capital raising announcement● Neutral
Announced a small top-up placement of up to $250,000 at $1.00/unit through Haywood Securities.
29 Apr 2010capital raising announcement● Neutral
Closed the $3 million-target private placement at $1.544 million, below the original target.
12 Feb 2010drilling result▲ GoodMajor
Step-out drilling 700 meters southwest of the main Zone 2 area confirmed a new Zone 3 gold system at Kibi, including 30 meters grading 3.52 g/t (with 14 meters at 6.47 g/t) - extending the scale of the project.
16 Nov 2009capital raising announcement▲ GoodMajor
Announced a much larger private placement, up to $3 million (3 million units at $1.00, up from $0.70-0.80 in earlier 2009 rounds), through Haywood Securities - pricing reflecting the strength of recent drill results.
What it means for a shareholder
3.0m new shares at C$1.00 to raise about C$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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28 Oct 2009drilling result▲ GoodMajor
Hit a bonanza-grade intercept at Kibi's Zone 2 - 39 meters grading 9.23 g/t gold, including 10 meters at 33.15 g/t - among the strongest results yet from the property.
30 Sept 2009drilling result▲ GoodMajor
Reported the first 15 results of a 50-hole Phase II reverse-circulation program on Kibi's Zone 2, including 6.29 g/t gold over 23 meters, confirming potential for both shallow heap-leachable oxide mineralization and larger primary gold at depth.
14 July 2009capital raising announcement● Neutral
Announced a further private placement of up to $400,000 (500,000 units at $0.80/unit).
What it means for a shareholder
500,000 new shares at C$0.800 to raise about C$400,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 May 2009capital raising announcement● Neutral
Closed the placement for $712,600, short of the $1.05 million target, earmarked for a 3,500-meter drill program at the Apapam (Kibi) project.
17 Mar 2009capital raising announcement● Neutral
Announced a private placement of up to $1.05 million (1.5 million units at $0.70) to fund continued exploration.
What it means for a shareholder
1.5m new shares at C$0.700 to raise about C$1.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 Jan 2009drilling result▲ GoodMajor
Trenching at the newly identified Ankaase Gold Trend, 19 km from the main Kibi project, confirmed a new "Ashanti"-style shear-zone gold system traced over 1.4 km, including 6.52 g/t gold over 4 meters - a second promising target beyond the flagship Kibi property.
8 Jan 2009drilling result▲ GoodMajor
Reported strong gold assay results from the remaining 10 holes of the 2008 program at Kibi, including 4.83 g/t over 7 meters and 2.11 g/t over 25.4 meters, plus encouraging trenching results - the company's flagship granitoid-hosted gold system taking shape.
4 Nov 2008production update▼ BadMajor
Completed the 2008 diamond drill program (18 holes, 3,001 meters) but mining remained halted over the farmer compensation dispute; management is using the downtime to design a mobile version of the processing plant to cut trucking costs, with about 200,000 ounces of mineralized material still to mine.
14 Oct 2008production update▼ BadMajor
Halted production at its Kibi Gold Trend mining operation in Ghana after local farmers demanded more crop compensation than previously agreed; diamond drilling continued in the meantime.
