28 Dec 2021other material event● Neutral
The Canadian material change report confirming 11,634,137 shares issued at C$11.75 for C$136,710,110 on 23 December 2021.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Dec 2021capital raising announcement▲ GoodMajor
Closed the twice-upsized C$136.7 million placement, issuing 11,634,137 shares at C$11.75. The company said the proceeds fully fund construction of the Phase 1 plant and mine and advance Phases 2 and 3, with BlackRock investing C$64.2 million.
What it means for a shareholder
11.6m new shares at C$11.75 to raise about C$137m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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17 Dec 2021capital raising announcement▲ GoodMajor
BlackRock put in a further C$64.2 million, taking the placement to C$136.7 million and 11,634,137 shares - the second upsizing in a week, and the arrival of a large institutional holder.
What it means for a shareholder
11.6m new shares at about C$11.75 to raise about C$137m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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13 Dec 2021capital raising announcement▲ GoodMajor
Raised the placement by 42% to C$85 million and 7,234,042 shares at the same C$11.75 price, citing investor demand.
What it means for a shareholder
7.2m new shares at about C$11.75 to raise about C$85.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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10 Dec 2021capital raising announcement▲ GoodMajor
Announced a non-brokered placement of about 5,106,383 shares at C$11.75 to raise roughly C$60 million, aimed at ESG-focused institutions.
What it means for a shareholder
5.1m new shares at C$11.75 to raise about C$60.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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6 Dec 2021annual report● Neutral
Refiled both the 2020 annual information form and the Phase 2 Barreiro feasibility technical report as amended and restated versions.
6 Dec 2021other▲ GoodMajor
Began foundation and earthworks with 180 workers on site and placed deposits on 38 long-lead items, saying it was on track to produce in the fourth quarter of 2022 and had the equity to meet the conditions of its proposed construction debt facility.
9 Nov 2021securities registration● Neutral
A reissue of the 5 November release four days later. The company states on its face that it is reissuing to clarify that the mobilisation described was for construction, not pre-construction; a word-level diff shows that change and some rewritten COP26 wording, nothing else of substance.
5 Nov 2021securities registration▲ GoodMajor
Mobilised about 180 contractors and equipment to site for pre-construction earthworks and completed front-end engineering design. It also filed a preliminary base shelf prospectus in Canada and the US to qualify up to US$250 million of debt and equity securities.
28 Oct 2021annual report● Neutral
Filed the annual information form for the year to 31 December 2020, ten months after the year end.
27 Oct 2021other● Neutral
Sigma's co-chief executive told a Brazilian congressional commission that Brazil could become a large exporter of sustainable lithium, framing the project as development for the Jequitinhonha valley, one of the country's poorest regions.
15 Oct 2021other● Neutral
Co-chief executive Ana Cabral-Gardner spoke on a Financial Times commodities panel about technology making lithium cheaper and cleaner. No company development.
6 Oct 2021material agreement▲ GoodMajor
Signed a binding six-year offtake term sheet with LG Energy Solution: 60,000 tonnes a year of concentrate on a take-or-pay basis from 2023, rising to 100,000 tonnes a year from 2024 to 2027, priced off lithium hydroxide. It was still subject to definitive agreements.