Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2012capital raising announcement▲ GoodMajor
Closed the offering at $34.5 million gross after the over-allotment was taken in full: 13,529,750 shares at $2.55, with a 5.5% underwriting commission. Proceeds were to pay out the remaining gold hedge and for general purposes.
What it means for a shareholder
13.5m new shares at $2.55 to raise about $34.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
The non-US-dissemination version of the same closing announcement - 13,529,750 shares at $2.55 for $34.5 million gross, co-led by Dundee and Canaccord with ROTH Capital. One financing, two rows dated 30 October 2012.
What it means for a shareholder
13.5m new shares at $2.55 to raise about $34.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Record quarterly silver production of 151,368 ounces, up 42%, with gold at 7,184 ounces, down 18%, from 265,598 tonnes crushed. Annual silver guidance was lifted from 435,000 to 535,000 ounces with gold guidance held at 33,500 - the silver-heavy mix that would define the mine.
5 Oct 2012capital raising announcement● NeutralMajor
Upsized the same-day bought deal to $30.0 million - 11,765,000 shares at $2.55 - with the 15% over-allotment option unchanged and the proceeds still earmarked for eliminating the gold hedge. Two versions of this release and the original $26.1 million announcement were all furnished on 5 October 2012, so this company has three separate rows covering what is really one financing.
What it means for a shareholder
11.8m new shares at $2.55 to raise about $30.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
The non-US-dissemination version of the same 5 October announcement upsizing the bought deal to $30.0 million at $2.55 a share. Same transaction as the two other rows dated 5 October 2012.
5 Oct 2012capital raising announcement● NeutralMajor
Announced a $26.1 million bought-deal financing - 10,235,000 shares at $2.55 through underwriters led by Dundee Securities, with a 15% over-allotment option and a 5.5% commission. The stated purpose was to clear the remaining gold hedge commitments.
What it means for a shareholder
10.2m new shares at $2.55 to raise about $26.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Fifteen more La Joya holes plus surface sampling along newly cut drill roads returned 157 m at 94.1 g/t silver-equivalent and surface values of 72.6 to 187.6 g/t over sample lengths of 39.7 to 99 m, extending the trend to about 2.5 km by 700 m. Phase II was widened to 90 holes and 20,000 m, and the near-surface grades raised the idea of an open-pit starter operation.
Common shares approved for the NYSE MKT, trading from 27 August 2012 under SVLC, with the TSX Venture listing under SVL continuing. This is where the SEC filing record held here begins - Santa Elena was already producing and the company had been listed in Canada for years.
Second-quarter output from the Santa Elena heap-leach operation of 139,850 ounces of silver (up 87%) and 8,584 ounces of gold (up 57%), from 317,958 tonnes crushed - a crusher rate of about 3,494 tonnes a day against a 2,500 t/d design. The third consecutive quarter at full planned rates.
Eleven more Phase II holes at the La Joya silver project in Durango returned 50 m at 151.8 g/t silver-equivalent and pushed the Main Mineralized Trend out to about 2 km long by 700 m wide, beyond the ground holding the existing 101.9 million ounce silver-equivalent inferred resource. La Joya is the exploration half of the company; Santa Elena is the mine.
