Past year: ▼ 36%(2.85 – 5.04 USD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Apr 2015business combination▲ GoodMajor
Detailed the ~$27.6 million all-stock Sunward acquisition: Sunward shareholders get 0.30 NovaCopper shares each (owning ~42% of the combined company), with NovaCopper CEO Rick Van Nieuwenhuyse continuing to lead. A related-party wrinkle was disclosed: major shareholder Electrum Strategic Resources (27.8% of NovaCopper) also holds an 18.2% stake in Sunward through an affiliated fund, and an interested NovaCopper director abstained from the board vote.
23 Apr 2015business combination▲ GoodMajor
NovaCopper agreed to acquire Sunward Resources Ltd., owner of the Titiribi project in Colombia, by plan of arrangement, with Sunward shareholders receiving 0.3 NovaCopper share each (about US$27.6 million). The combined company would keep focus on advancing the Arctic and Bornite deposits in Alaska.
8 July 2014capital raising announcement● NeutralMajor
Then called NovaCopper, the company closed a US$7.5 million private placement on July 7, 2014: 6,521,740 units at US$1.15 each, sold to three existing shareholders. Each unit has one share and one warrant to buy another share at US$1.60 for five years, so existing holders face possible dilution if the warrants are exercised. The filing does not state what the money is for.
What it means for a shareholder
6.5m new shares at US$1.15 to raise about US$7.5m. That's 9.8% dilution: every existing holder's slice gets 9.8% smaller. If you held US$1,000 of shares (870 at the issue price), your slice goes from 0.00144% to 0.0013% of the company. To keep it you'd need 94 more shares - about US$108 at the issue price.
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1 Apr 2014resource reserve update● Neutral
Furnished to the SEC a technical report on the Bornite Deposit, prepared under NI 43-101 by independent qualified persons, to satisfy Regulation FD disclosure obligations.
19 Feb 2014drilling result▲ GoodMajor
NovaCopper filed an 8-K furnishing a December 18, 2013 press release on 2013 assay results from its re-sampling and re-assaying program at the Bornite Project, titled as confirming and extending previously known mineralization.
30 Jan 2014other material event● Neutral
Reported annual/Q4 financial results, disclosed director Walter Segsworth's resignation (no disagreement involved), and adopted a routine advance-notice bylaw policy for shareholder director nominations.
