Each one in plain English, with the numbers worked through for a shareholder.
8 Nov 2011capital raising announcement▲ GoodMajor
Sold 2,163,000 units at Cdn$1.00 each for Cdn$2.163 million in a brokered offering, with each unit including a half-warrant exercisable at Cdn$1.25. It also sold 1,222,500 units for Cdn$1.22 million in a non-brokered offering, and its shares began trading on the TSX Venture Exchange on November 7, 2011.
What it means for a shareholder
2.2m new shares at C$1.00 to raise about C$2.2m. That's 3.5% dilution: every existing holder's slice gets 3.5% smaller. If you held C$1,000 of shares (1,000 at the issue price), your slice goes from 0.00165% to 0.0016% of the company. To keep it you'd need 36 more shares - about C$36 at the issue price.
Disclosed unit sales between October 28 and November 2, 2010 totalling about $5.25 million. These included 2.78 million units for $2.08 million to two non-US investors; each unit carried a warrant exercisable at $0.90 for 12 months.
Adopted a new Performance and Equity Incentive Plan for officers, employees and directors, formalizing compensation under the new post-pivot management team.
Dismissed auditor BDO Canada and engaged Deloitte & Touche - a step up to a Big Four firm, and a sign of the more institutional footing (new Toronto head office, new leadership) the company adopted alongside its move into Oman.
8 Mar 2010asset acquisition disposition▲ GoodMajor
Closed the APM Mining acquisition, gaining the Oman copper exploration rights. Alongside the closing, founder and president Lloyd Bardswich and director Kitt Dale resigned; Banro Corporation CFO Donat Madilo was appointed the company's new CFO - a full changing of the guard accompanying the pivot to Oman.
Agreed to acquire APM Mining Ltd. from Arabian Peninsula Projects Ltd. for 10.36 million restricted shares, gaining earn-in rights to copper exploration ground in the Sultanate of Oman - a major strategic pivot away from the Idaho moly-tungsten project.
Published a maiden NI 43-101 inferred resource for the Idaho Moly Project: 5.7 million tons grading 0.15% molybdenum, based on the 21,000-foot drill program completed that May - the first formal resource estimate for the deposit.
More high-grade moly assays from Idaho and mineralization extended a further 300 feet north, continuing to grow the known deposit ahead of a resource estimate.
Announced that a press release had reported assay results for three additional drill holes at the IMA Mine molybdenum-tungsten-silver project in Patterson, Idaho. The filing gave no assay details.
Announced that a press release had reported assay results for the next two drill holes at the IMA Mine molybdenum-tungsten-silver project in Patterson, Idaho. The company also moved its head office from Whitehall, Montana to Patterson, Idaho.
Announced that a press release had reported assay results for the first two drill holes at the IMA Mine molybdenum-tungsten project in Patterson, Idaho. The filing itself gave no assay figures.
Gentor's subsidiary Gentor Idaho took an option, assigned by company president Lloyd Bardswich's own LLC, to lease and eventually buy a historic tungsten mine near Patterson, Idaho for up to $5 million in staged payments, plus a 3-5% royalty to the original claim owner. The mine was once the fifth-largest US tungsten producer before closing in 1957.
