Past year: ▼ 98%(0.50c – 22.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Nov 2007financial restatement▼ Bad
General Moly restated three years of financial statements (2004-2006) after finding accounting errors in how it valued stock and options paid to employees and outside parties — no cash impact, but a real disclosure-control lapse.
9 Oct 2007listing compliance notice● NeutralMajor
General Moly, Inc's exchange filed to remove a class of its securities from listing.
5 Oct 2007business combination● NeutralMajor
Idaho General Mines reincorporated in Delaware as General Moly, Inc. via a shareholder-approved merger, and terminated its shareholder rights (poison pill) plan in the process — the company's new permanent name and structure going forward.
21 Sept 2007resource reserve update● Neutral
The company briefed investors on the Mt. Hope and Hall-Tonopah projects following the completed feasibility study.
31 Aug 2007resource reserve update▲ GoodMajor
The company announced completion of the Mt. Hope Bankable Feasibility Study, a major technical milestone toward financing and building the mine.
23 Aug 2007auditor change● Neutral
The company dismissed its auditor Williams & Webster and hired PricewaterhouseCoopers, an upgrade in audit-firm scale as the company grew.
3 Apr 2007capital raising announcement▲ GoodMajor
The company raised $25 million in another private placement, earmarked for permitting Mount Hope and evaluating Hall Tonopah.
5 Feb 2007asset acquisition disposition▲ Good
The Equatorial Mining royalty buyout closed, giving the company full, royalty-free ownership of the Hall Tonopah copper-molybdenum deposits.
13 Dec 2006material agreement▲ Good
The company agreed to buy out Equatorial Mining's 12% royalty on the Hall Tonopah property for about $4.8 million upfront plus $6 million at first production, consolidating full ownership of its second Nevada deposit.
14 Nov 2006material agreement● Neutral
The company changed its stock transfer agent and registrar, a routine administrative update, amending the rights plan to reflect the new agent.
14 Sept 2006material agreement● Neutral
The company amended its shareholder rights (poison pill) plan to let Coghill Capital Management, which had built a 28.45% stake through the February 2006 placement, buy slightly more stock without triggering the plan.
15 Aug 2006listing compliance notice▲ GoodMajor
the American Stock Exchange certified General Moly, Inc's securities for listing, clearing them to begin trading.
12 Apr 2006material agreement● Neutral
The board granted each director 50,000 stock options as compensation — routine governance.
23 Mar 2006asset acquisition disposition▲ Good
The company closed its purchase of the Hall Tonopah property from High Desert Winds for $4.5 million cash plus a possible $1 million deferred payment.
17 Feb 2006capital raising announcement▲ GoodMajor
Idaho General Mines completed a $30 million private placement of 15 million units at $2.00 each, and applied to list on the American Stock Exchange. It withdrew its Canadian preliminary prospectus, having chosen alternative financing, while still intending to seek a Toronto Stock Exchange listing.
What it means for a shareholder
15.0m new shares at $2.00 to raise about $30.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
23 Jan 2006material agreement● Neutral
The company extended its option to buy the Hall property to February 2006, disclosed the Mount Hope lease terms in full, and announced plans to drill a separate zinc target at Mount Hope.
17 Jan 2006capital raising announcement▲ Good
Idaho General Mines raised $3.8 million in a private placement of stock-and-warrant units.
6 Dec 2005listing compliance notice▼ Bad
General Moly, Inc withdrew a registration statement, abandoning the offering it covered.
25 Oct 2005material agreement▲ GoodMajor
The company formally exercised its 30-year lease on the Mount Hope deposit, locking in royalty terms tied to the molybdenum price (4-6% depending on price) plus scheduled payments through 2010.
10 Aug 2005farm in farm out agreement● Neutral
Idaho General Mines exercised its intent to buy the Hall property from High Desert Winds, paying a $100,000 non-refundable deposit.
27 Apr 2005capital raising announcement▲ GoodMajor
The company completed its Mount Hope feasibility study, outlining a 30-year open-pit mine expected to recover about 700 million pounds of molybdenum, and closed a $2.25 million private placement to keep funding the project's permitting.
18 Feb 2005farm in farm out agreement▲ Good
Idaho General Mines took a nine-month option to buy the former Hall molybdenum-copper mine in Nevada from High Desert Winds for up to $5 million — a second Nevada moly property alongside Mount Hope.
16 Feb 2005auditor change● Neutral
This amendment repeats the January 13, 2005 auditor switch: Idaho General Mines dismissed Decoria, Maichel and Teague and hired Williams and Webster, P.S. for the 2004 audit, saying it wanted to be better able to meet anticipated rapid long-term growth. The filing says there were no disagreements and no adverse opinions in the past two years, and it adds the former auditor's letter as an exhibit.
20 Jan 2005auditor change● Neutral
The company switched auditors to Williams and Webster, P.S. ahead of its 2004 annual audit, calling the prior firm unable to support its planned rapid growth.
23 Dec 2004material agreement● Neutral
Idaho General Mines separately acquired the small Turner Gold gold-silver-copper prospect in Oregon.
18 Nov 2004capital raising announcement▲ GoodMajor
Idaho General Mines (the company later renamed General Moly) paid $175,000 plus stock for a one-year option to lease Mount Hope Mines' undeveloped molybdenum deposit in Nevada — the deal that would become the company's flagship Mt. Hope project.
