Past year: ▼ 9%(74.0c – 1.06 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Oct 2022asset acquisition disposition● NeutralMajor
Agreed to sell 17 million Dolly Varden shares, about 7.4% of that company, at C$0.40 each to an institutional investor, cutting Fury's stake from 33% to about 26%. The proceeds were to fund exploration at Eau Claire and Éléonore South in Quebec and general working capital.
12 Sept 2022joint venture update▲ Good
Completed the Azimut buy-out at a cost to Fury of C$1,202,663, leaving Eleonore South held 50.022% by Fury and 49.978% by Newmont under a restated joint venture agreement, and defined nine targets on the property.
8 Aug 2022joint venture update▲ Good
Fury and Newmont agreed to buy out Azimut Exploration's remaining 23.77% of the Eleonore South joint venture pro rata, taking the venture to Fury 50.022% and Newmont 49.978% with Fury still operator. Fury's share of the cost is about C$1.2 million for an extra 11.902%.
3 Aug 2022drilling result▲ GoodMajor
Fury reported seven Eau Claire holes, three of them at the Hinge target, where hole 22EC-048 returned four high-grade zones (1 m of 20.6 g/t, 1 m of 14.19 g/t, 3.5 m of 5.86 g/t, 3.5 m of 4.79 g/t). Fury said the Hinge drilling showed a potential 330 m, or 20%, increase in strike length.
22 June 2022drilling progress report● Neutral
Sent a second rig to Percival for about 6,500 metres, aimed at extending the higher-grade core down plunge and testing a parallel fold hinge 500 metres east.
16 May 2022drilling progress report▲ Good
Completed a 29 line-kilometre induced-polarisation survey at Percival covering eight of the fifteen biogeochemical targets, finding resistivity anomalies over 6.5 kilometres of strike that match the signature of the known silica-breccia gold bodies.
22 Apr 2022capital raising announcement● Neutral
Material change report for the 19 April closing of the C$11,000,000 placement at C$0.80 a share.
19 Apr 2022capital raising announcement▲ GoodMajor
Closed the C$11.0 million placement on 13.75 million shares at C$0.80 to the two investors.
What it means for a shareholder
13.8m new shares at C$0.800 to raise about C$11.0m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held C$1,000 of shares (1,250 at the issue price), your slice goes from 0.000994% to 0.000896% of the company. To keep it you'd need 137 more shares - about C$110 at the issue price.
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12 Apr 2022capital raising announcement▲ GoodMajor
Agreed a C$11.0 million placement of 13.75 million shares at C$0.80 with just two buyers, a Canadian corporate investor and a US institution, with no warrants attached. The price is above last October's C$0.75, and a no-warrant deal to two named buyers is a better sale than the retail unit placements that preceded it.
What it means for a shareholder
13.8m new shares at C$0.800 to raise about C$11.0m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held C$1,000 of shares (1,250 at the issue price), your slice goes from 0.000994% to 0.000896% of the company. To keep it you'd need 137 more shares - about C$110 at the issue price.
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7 Apr 2022drilling spud▲ Good
Started a roughly 15,000-metre 2022 programme at Eau Claire, split between the southeast margin of the deposit, the Western Hinge target that produced 9.36 g/t over 3 metres in November, and Percival.
4 Mar 2022asset acquisition disposition● Neutral
Material change report for the 25 February completion, confirming proceeds of C$5,000,000 in cash and 76,504,590 Dolly Varden shares for Homestake Resource Corporation under the 6 December 2021 purchase agreement.
28 Feb 2022asset acquisition disposition▲ GoodMajor
The Homestake Ridge sale closed, Dolly Varden taking 100% of subsidiary Homestake Resource Corporation and Hecla investing C$5.3 million alongside. Fury has swapped an asset with an economic study and 590,000 gold-equivalent ounces of production potential for cash and a one-third stake in a neighbour - a strategic-review decision, not a geological one.
23 Feb 2022business combination▲ GoodMajor
Dolly Varden shareholders approved the C$50 million Homestake Ridge purchase with 98.8% in favour, and separately approved Fury becoming a control person of Dolly Varden - the consequence of taking 76.5 million shares rather than cash.
16 Feb 2022drilling result▲ Good
Results from the 2021 Raven drilling at Committee Bay: 1.5 metres of 9.18 g/t gold and 1 metre of 7.30 g/t in hole 21RV-012, and 8 metres of 0.88 g/t in 21RV-011, extending mineralisation 160 metres down dip and 70 metres along strike, plus a grab sample of 32.90 g/t gold from a new outcrop 150 metres south. Narrow widths, and Raven remains a vein prospect rather than a deposit.
2 Feb 2022drilling result▲ GoodMajor
Eight holes at Snake Lake, a kilometre east of the Eau Claire resource, returned 1.5 metres of 20.70 g/t gold, 2.50 metres of 5.16 g/t and 1.5 metres of 7.14 g/t, taking the shallow mineralised footprint there past 950 metres of strike.
26 Jan 2022drilling progress report▲ Good
Biogeochemical sampling over six and a half kilometres of folded stratigraphy at Percival produced fifteen gold anomalies on a structural orientation nobody had recognised before, to be followed by a ground geophysical survey. Crews were mobilised back to Eau Claire.
18 Jan 2022drilling progress report● Neutral
Year-end review under the new chief executive: the C$5.6 million October placement, the agreed C$50 million Homestake Ridge sale expected to close in February, and expansion drilling at Eau Claire and Committee Bay. The company now has one financing, one asset sale and two projects rather than five.
6 Dec 2021asset acquisition disposition▲ GoodMajor
Agreed to sell Homestake Ridge to neighbouring Dolly Varden Silver for C$50 million, paid as C$5 million cash and 76,504,590 Dolly Varden shares. That would leave Fury with about 36.9% of Dolly Varden, board nominees and a one-year hold on the shares.
1 Dec 2021drilling result▲ GoodMajor
Hole 21TB-152, drilled 120 metres down dip of the Three Bluffs resource at Committee Bay, hit three high-grade zones over 30 metres including 10 metres of 13.93 g/t gold, 3 metres of 18.67 g/t and 1 metre of 23.2 g/t - the company calls them the best results the project has seen in five years, and they came from a meta-sediment unit that was not expected there. Four holes at Raven were still pending.
29 Nov 2021drilling result▲ GoodMajor
Hole 21EC-041 cut seven mineralised zones over 110 metres of drill width at the Hinge target, including 3 metres of 9.36 g/t gold, 3 metres of 3.38 g/t and 1.5 metres of 4.94 g/t, about 100 metres below the defined resource. The western end of Eau Claire is now open down plunge as well as the eastern.
18 Oct 2021capital raising announcement● Neutral
Material change report for the two-tranche placement completed 13 October at C$5,596,088 on 7,461,450 units.
What it means for a shareholder
7.5m new shares at about C$0.750 to raise about C$5.6m. That's 8.5% dilution: every existing holder's slice gets 8.5% smaller. If you held C$1,000 of shares (1,333 at the issue price), your slice goes from 0.00166% to 0.00152% of the company. To keep it you'd need 124 more shares - about C$93 at the issue price.
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14 Oct 2021capital raising announcement● Neutral
Closed the second and final tranche of 2,375,780 units, taking the placement to 7,461,450 units for C$5,596,088 - above the C$5.025 million first announced.
8 Oct 2021capital raising announcement● Neutral
Closed a first tranche of 5,085,670 units at C$0.75 for C$3,814,253.
What it means for a shareholder
5.1m new shares at C$0.750 to raise about C$3.8m. That's 5.9% dilution: every existing holder's slice gets 5.9% smaller. If you held C$1,000 of shares (1,333 at the issue price), your slice goes from 0.00166% to 0.00156% of the company. To keep it you'd need 84 more shares - about C$63 at the issue price.
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22 Sept 2021capital raising announcement▼ BadMajor
Arranged a C$5.025 million placement of 6.7 million units at C$0.75, each with a full warrant at C$1.20 for three years, callable if the shares hold C$1.50 for 20 days. The price is less than half the C$1.60 paid in February 2020, before the merger.
What it means for a shareholder
6.7m new shares at C$0.750 to raise about C$5.0m. That's 7.7% dilution: every existing holder's slice gets 7.7% smaller. If you held C$1,000 of shares (1,333 at the issue price), your slice goes from 0.00166% to 0.00153% of the company. To keep it you'd need 111 more shares - about C$83 at the issue price.
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13 Sept 2021asset acquisition disposition● Neutral
Bought out a 2% net smelter royalty over certain Homestake Ridge claims for $400,000, a quarter in cash and the rest in shares capped at 328,367. A tidy-up of the title on a project the company was already preparing to sell.
7 Sept 2021drilling progress report● NeutralMajor
New chief executive Tim Clark, replacing Mike Timmins, set out a narrower plan: concentrate on Eau Claire and Committee Bay, put at least 70% of spending into exploration and drilling, run a strategic review of non-core assets, and cut overheads by going virtual in Toronto and sharing costs with sister companies. The strategic review is what leads to the Homestake Ridge sale three months later.
4 Aug 2021drilling result▲ GoodMajor
First holes into the previously untested Hinge target at the western edge of Eau Claire returned 1 metre of 12.81 g/t gold and 8 metres of 1.18 g/t gold, in the same iron-rich basalt and quartz-tourmaline veining that hosts the resource. All three holes hit stacked mineralised zones.
14 July 2021drilling spud▲ GoodMajor
Started 5,000 metres at Committee Bay across a 270,000-hectare position, aimed at the Raven vein prospect - where historical holes returned 2.8 metres of 31.1 g/t gold and 5.49 metres of 12.6 g/t gold - and at ground below the Three Bluffs resource.
2 June 2021drilling result● Neutral
Reinterpreted airborne magnetic and electromagnetic data to reframe regional targeting at Eau Claire around two mineralisation styles - the quartz-tourmaline veins of the deposit and the sediment-hosted breccias of Percival, both along the Cannard Deformation Zone.
25 May 2021drilling result▲ GoodMajor
Hole 21EC-022 cut 23.27 g/t gold over 7.09 metres on the southeast margin of the resource, which the company says is the fifth best intercept by grade and width of more than 900 holes ever drilled at Eau Claire. Drilling now turns to the 220-metre gap between the resource and the Target A panel.
