13 Oct 2023capital raising announcement● Neutral
Amended the warrants from its October and November 2021 private placements to reflect the company's 14-for-1 reverse stock split and extended their expiration by a year, to October 2024.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Feb 2023capital raising announcement● Neutral
Raised $878,500, including $200,000 from President & CEO John Swallow personally, for general working capital.
22 Apr 2022capital raising announcement● Neutral
This is a correction to the February 2022 report of the $2.7 million private placement: a typo had misstated the number of shares sold, and the right figure is 360,134 restricted shares at $7.50 each (US$2,701,000, no warrants). The amendment changes nothing else; the money is still earmarked, in part, to roughly double the rare earth drill program and to develop the Klondike area at Golden Chest.
15 Feb 2022capital raising announcement▲ GoodMajor
Raised $2.7 million (at $7.50/share) to roughly double the Diamond Creek rare-earth drill program and fund underground development of the Klondike area at Golden Chest, which management expects could double the mine's production.
17 Nov 2021capital raising announcement● Neutral
Raised $600,000 from a single investor to build inventory redundancy for the mill and mine.
18 Oct 2021capital raising announcement▲ GoodMajor
Raised $1.98 million to fund a 10-hole drill program at the Diamond Creek rare-earth-element property and equipment upgrades at Golden Chest - the earliest cached mention of the company's rare-earth-element exploration effort.
1 Sept 2020capital raising announcement▲ GoodMajor
Raised $2.72 million from 19 investors at $0.28/unit, earmarked to accelerate drilling and underground development aimed at growing Golden Chest production over the next 12-18 months - a step up in scale from prior raises.
24 Apr 2020capital raising announcement● Neutral
Raised $200,000 in a private placement at $0.135/unit.
18 Dec 2018capital raising announcement● Neutral
Closed a CAD$150,000 private placement with a small group of Canadian investors at CAD$0.20/unit.
25 Apr 2018capital raising announcement▲ GoodMajor
Hecla Silver Valley invested $500,000 directly in the company's stock (3.85 million shares plus warrants) on the same terms as the recent private placement - the same Hecla unit that would buy the Toboggan Project a month later.
25 Oct 2017capital raising announcement● Neutral
Raised $250,000 in a private placement at $0.24/unit, mainly from H&H Metals Corp, plus a further $60,000 conversion of John Swallow's personal loan into the same units.
30 Mar 2017capital raising announcement● Neutral
Raised $850,000 in a private placement at $0.20/unit; President John Swallow also converted $100,000 of his personal loan to the company into the same units, on the same terms as outside investors.
6 Mar 2017capital raising announcement● Neutral
Closed a $427,500 private placement (2.1 million units at $0.20) through placement agent Paulson Investment Company.
What it means for a shareholder
2.1m new shares at US$0.200 to raise about US$427,500. That's 2.1% dilution: every existing holder's slice gets 2.1% smaller. If you held US$1,000 of shares (5,000 at the issue price), your slice goes from 0.00514% to 0.00504% of the company. To keep it you'd need 108 more shares - about US$22 at the issue price.
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25 Aug 2014capital raising announcement● Neutral
Settled a $1.2 million private placement (6 million units at $0.20), placed through GVC Capital, which would go on to arrange the larger 2016 Golden Chest restart financings.
What it means for a shareholder
6.0m new shares at US$0.200 to raise about US$1.2m. That's 6.2% dilution: every existing holder's slice gets 6.2% smaller. If you held US$1,000 of shares (5,000 at the issue price), your slice goes from 0.00555% to 0.0052% of the company. To keep it you'd need 333 more shares - about US$67 at the issue price.
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15 Mar 2010capital raising announcement● Neutral
Raised $529,500 (3.1 million units at $0.17), paying agents a 10% placement fee.
What it means for a shareholder
3.1m new shares at US$0.170 to raise about US$529,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 May 2008capital raising announcement▲ Good
Brought in $1.74 million as shareholders exercised 4.35 million warrants at $0.40 - existing investors converting options into shares rather than a new dilutive raise.
13 Feb 2007capital raising announcement● Neutral
Raised roughly $1.07 million more (2.68 million units at $0.40).
What it means for a shareholder
2.7m new shares at US$0.400 to raise about US$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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13 Apr 2006capital raising announcement▲ Good
Raised $1.32 million in a private placement (4.4 million units at $0.30) with no broker commissions - a notably larger raise than its earlier rounds.
What it means for a shareholder
4.4m new shares at US$0.300 to raise about US$1.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 Feb 2004capital raising announcement● Neutral
Closed a roughly $691,000 private placement (1,727,500 units at $0.40), continuing to fund exploration.
What it means for a shareholder
1.7m new shares at US$0.400 to raise about US$691,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 May 2002capital raising announcement▲ Good
Closed a $229,500 private placement (1.7 million units at $0.15) to fund exploration drilling at the New Jersey mine, Lost Eagle project and Silver Strand mine.
What it means for a shareholder
1.7m new shares at US$0.150 to raise about US$229,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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