7 Apr 2009director interest notice● Neutral
Golden Minerals Co Senior VP and CFO Robert P Vogels received 20,000 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Apr 2009director interest notice● Neutral
Golden Minerals Co President, CEO Jeffrey G Clevenger received 95,000 shares as part of the equity award.
7 Apr 2009director interest notice● Neutral
Golden Minerals Co Sr VP, Gen. Coun. & Corp. Secy Deborah J Friedman received 15,000 shares as part of the equity award.
7 Apr 2009director interest notice● Neutral
Golden Minerals Co Sr VP, Explor./Chief Geologist Robert B. Blakestad received 20,000 shares as part of the equity award.
7 Apr 2009director interest notice● Neutral
Golden Minerals Co Senior VP and COO Terry L Owen received 25,000 shares as part of the equity award.
7 Apr 2009director interest notice● Neutral
Golden Minerals Co Senior VP, Corporate Affairs Jerry W Danni received 20,000 shares as part of the equity award.
6 Apr 2009director interest notice● Neutral
Robert B. Blakestad became a Golden Minerals Co Sr VP, Explor./Chief Geologist and company insider (initial ownership filing).
3 Apr 2009substantial holder notice● Neutral
Polygon Global Opportunities Master Fund, Polygon Investments Ltd, Polygon Investment Management Limited, Polygon Investment Partners LLP, Polygon Investment Partners LP, Polygon Investment Partners HK Limited, Polygon Investment Partners GP, LLC, Reade E. Griffith, Patrick G. G. Dear disclosed a new substantial Golden Minerals Co shareholding (17.00% of votes).
3 Apr 2009director interest notice● Neutral
William Durand Eppler became a Golden Minerals Co director and company insider (initial ownership filing).
3 Apr 2009director interest notice● Neutral
David Watkins became a Golden Minerals Co director and company insider (initial ownership filing).
2 Apr 2009director interest notice● Neutral
Polygon Global Opportunities Master Fund became a Golden Minerals Co 10%+ owner and company insider (initial ownership filing).
30 Mar 2009asset acquisition disposition▲ GoodMajor
Apex Silver Mines completed its Chapter 11 reorganization and emerged as Golden Minerals Company (Delaware), succeeding Apex Silver as SEC registrant; the stock began OTC trading in early April 2009.
10 Mar 2009bankruptcy or receivership▼ BadMajor
The bankruptcy court confirmed the reorganization plan on March 4, 2009, resolving the Chapter 11 case filed in January. Apex Silver will sell its 65% San Cristóbal interest to Sumitomo for $27.5M cash plus $2.5M of expense reimbursements and assumed liabilities, a higher cash price than the $22.5M in the earlier non-binding proposal. Current shareholders receive no recovery and the company's ordinary shares are expected to be cancelled in a liquidation. Its assets move to a new Delaware company, Golden Minerals Company, whose roughly 3 million new shares go to the holders of the $290M convertible notes (who also share about $45M in cash) and other unsecured creditors. Effectiveness is expected around March 24, 2009, and Sumitomo can terminate if closing has not happened by March 31, 2009.
10 Mar 2009substantial holder notice● Neutral
Tradewinds Global Investors, LLC reported a Golden Minerals Co shareholding of 409,853 shares (0.69% of votes) in a periodic institutional filing.
4 Mar 2009listing compliance notice● NeutralMajor
Golden Minerals Co's exchange filed to remove a class of its securities from listing.
13 Feb 2009substantial holder notice● Neutral
Tradewinds Global Investors, LLC reported a Golden Minerals Co shareholding of 12,488,218 shares (21.17% of votes) in a periodic institutional filing.
6 Feb 2009debt financing● Neutral
The bankruptcy court approved Apex Silver's debtor-in-possession financing and it drew an initial $6.5 million, while the company filed a revised reorganization plan ahead of a March 2009 confirmation hearing.
30 Jan 2009listing compliance notice▼ BadMajor
NYSE Alternext told Apex Silver it remained non-compliant with its financial-condition listing standard and became subject to the rule on securities deemed without value. It intended to file a delisting application on or after February 2, 2009, which the company did not expect to appeal.
26 Jan 2009debt financing● NeutralMajor
Sumitomo agreed to provide Apex Silver up to $35 million in debtor-in-possession financing to keep it operating through the bankruptcy process.
13 Jan 2009bankruptcy or receivership▼ BadMajor
Apex Silver and its U.S. subsidiary filed for Chapter 11 bankruptcy, having lined up support from Sumitomo, its senior lenders and roughly 65% of its convertible noteholders for a reorganization plan built around Sumitomo acquiring San Cristobal.
29 Dec 2008listing compliance notice▼ BadMajor
NYSE Alternext warned Apex Silver it no longer met listing standards given its losses and impaired finances, and expected to begin delisting proceedings; the company said it would not appeal.
18 Dec 2008debt financing▼ BadMajor
Apex Silver said it had a non-binding letter of intent to sell its San Cristobal interest to Sumitomo for $22.5 million cash, subject to restructuring its $290 million convertible notes under Chapter 11. Sumitomo also added a fourth $25 million loan increase for MSC.
10 Dec 2008director interest notice● Neutral
Golden Minerals Co Senior VP, Corporate Affairs Jerry W Danni sold 858 shares at $0.68.
10 Dec 2008director interest notice● Neutral
Golden Minerals Co Senior VP & CFO Gerald J Malys sold 420 shares at $0.68.
10 Dec 2008director interest notice● Neutral
Golden Minerals Co Senior VP, Project Development Terry L Owen sold 736 shares at $0.68.
1 Dec 2008debt financing▼ BadMajor
Sumitomo increased its loan to the San Cristobal subsidiary a third time, underscoring how dependent the project had become on its minority partner's cash and deepening the potential dilution of Apex Silver's stake.
10 Nov 2008substantial holder notice● Neutral
Tradewinds Global Investors, LLC reported a Golden Minerals Co shareholding of 13,782,880 shares (23.39% of votes) in a periodic institutional filing.
6 Nov 2008debt financing▼ BadMajor
Sumitomo's loan to the San Cristobal subsidiary was increased by another $25 million, pushing Apex Silver's potential ownership dilution further, to roughly 46% if the debt were fully converted to equity.
15 Aug 2008debt financing▼ BadMajor
With San Cristobal needing more cash, its operating subsidiary borrowed $50 million from a Sumitomo affiliate under a loan convertible into subsidiary shares - a facility that could shrink Apex Silver's indirect ownership toward roughly 53% if fully converted.
5 Aug 2008financial restatement▼ BadMajor
Apex Silver disclosed a second derivative-valuation error, this time from failing to account for its own credit risk under a new accounting standard, requiring another restatement of Q1 2008 results.