Key Developments: PMI Gold Corp (PMV.TO)
0.37CAD
11 Jun 2013
$0.01 (+2.78%)
$0.36
$0.37
$0.37
$0.36
1,985,290
481,931
$0.96
$0.33
Latest Key Developments (Source: Significant Developments)
PMI Gold Corporation Announces USD 30 Million Standby Funding Facility
PMI Gold Corporation announced that it has entered into a committed letter offer for a USD 30 million standby funding facility from Macquarie Bank Limited while it completes the full funding package for development of its flagship 100%-owned Obotan Gold Project in Ghana. Some of the key terms of the Macquarie Facility include: maturity date is the earlier of June 30, 2014 or the first draw-down under a project financing/equity funding of the Project; interest rate of 6% over LIBOR; associated warrant issue terms are: 600,000 facility fee warrants; draw-down warrants: being 50% of drawn down funds divided by the exercise price; and all warrants expiring three years from date of issue at an exercise price at a premium to VWAP in CAD; cancellable in whole or in part at the discretion of the borrower; security and general commercial terms standard for this type of facility; and the facility and the project finance facility are non-related. Full Article
PMI Gold Corp Subsidiary Completes Acquisition of Mirdas Mining Lease-ENP Newswire
ENP Newswire reported that PMI Gold Corp (PMI) has reported that its wholly-owned subsidiary, Adansi Gold Company Limited (Adansi), will now proceed to complete the proposed acquisition of Datano Mining Lease located adjacent to its flagship Obotan Gold Project in south-west Ghana after receiving Government approval for the transaction. PMI announced in July 2012 that Adansi had entered into an agreement with Midras Mining Company Ltd (Midras) to acquire the Datano Mining Lease for USD 6 million, subject to receiving approval for the sale and transfer of the mining lease to Adansi. Adansi has now received formal notification from the Ghanaian Minister of Lands, Forestry and Mines approving the assignment of the Datano-Manso Mining Lease from Midras to Adansi following a recommendation from the Ghana Minerals Commission. Full Article
PMI Gold Corporation's Adansi Gold Company (Ghana) Limited Announces Agreement to Purchase Contiguous Mining Lease With Obotan Gold Project
PMI Gold Corporation announced that its 100% wholly-owned subsidiary, Adansi Gold Company (Ghana) Limited (Adansi) has entered into an agreement with Midras Mining Company Ltd (Midras) to acquire the Datano Mining Lease which sits contiguous to the Company's flagship Obotan Gold Project in south-west Ghana. The Midras concession covers an area of 50km2 and sits strategically south of the Nkran deposit providing PMI access to the extensions of the mineralised Nkran and Fromenda structures and the opportunity to develop additional oxide resource targets close to the Obotan Project. The concession was previously explored by Ashanti Gold Corporation and Kiwi Goldfields Limited where multiple targets associated with traversing lineaments were recognised within a 7km wide corridor of the Asankrangwa Gold Belt. The lease area will also provide greater flexibility in the design of infrastructure within the Obotan Project Feasibility Study design, which is currently in progress. The agreement allows for a purchase price of USD6 million and is contingent upon obtaining the approval of the sale and transfer of the Mining Lease to Adansi by the Ghana Minerals Commission and Minister of Lands, Forestry and Mines. Full Article
PMI Gold Corporation Completes CDN$35 Million Public Offering Of Common Shares
PMI Gold Corporation announced that it has completed its previously announced bought deal public offering of 28,000,000 common shares (Common Shares) at a price of CDN$1.25 per Common Share for gross proceeds of CDN$35,000,000 through a syndicate of underwriters co-led by Clarus Securities Inc. and RBC Capital Markets and including GMP Securities L.P. and Raymond James Ltd. PMI intends to use the net proceeds of the offering to fund its definitive feasibility study on, and development of, the Company's Obotan Gold Project and for general corporate purposes. Full Article
PMI Gold Corporation Files Final Short Form Prospectus
PMI Gold Corporation announced that it has filed, and received a receipt for, a final short form prospectus in connection with an offering of 28,000,000 Common Shares (the Common Shares) by the Company at a price of CAD1.25 per Common Share for total gross proceeds of CAD35,000,000 (the Offering). PMI intends to use the net proceeds of the Offering to fund its definitive feasibility study on, and development of, the Company's Obotan Gold Project and for general corporate purposes. The Offering is underwritten by a syndicate co-led by Clarus Securities Inc. and RBC Capital Markets and including GMP Securities L.P. and Raymond James Ltd. The Offering is expected to close on or about March 16, 2012. Full Article
PMI Gold Corporation Enters Into Bought Deal Agreement to Raise Gross Proceeds of CAD35 Million
PMI Gold Corporation announced that it has today entered into an agreement with a syndicate of underwriters co-led by Clarus Securities Inc. and RBC Capital Markets and including GMP Securities L.P. and Raymond James Ltd. (the "Underwriters") under which the Underwriters have agreed to buy 28,000,000 Common Shares (the "Common Shares") from the Company on a bought-deal underwritten basis and sell them to the public at a price of C$1.25 per Common Share. The gross proceeds raised from the offering will be C$35,000,000. The offering is subject to customary conditions and receipt of required regulatory approvals, including the approval of the TSX Venture Exchange. The Common Shares will be offered by way of a short form prospectus in each of the provinces of Canada (other than Quebec), and in such other jurisdictions, including the United States and Australia, where the Common Shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements. The offering is expected to close on or about March 16, 2012. PMI intends to use the net proceeds of the offering to fund its definitive feasibility study on, and development of, the Company's Obotan Gold Project and for general corporate purposes. Full Article
PMI Gold Corporation Completes Agreement With Anglican University College Of Technology
PMI Gold Corporation announced that it has completed an agreement with the Anglican University College of Technology for the acquisition of property within the Abore-Abirem licence. The facilities will provide the basis for the future mine accommodation as well as the immediate accommodation for the ongoing exploration activities. The Pre-feasibility Study capital cost estimate will incorporate an amount of AUD 4.5 million for the final settlement for the cost of the future mine village and administration buildings. Full Article
PMI Gold Corporation Exercises Warrants
PMI Gold Corporation announced the exercise of 265,000 unlisted warrants at CAD 0.30 in September 2011, raising cash of CAD 79,500. The Company's issued capital increases to 198,769,584. Full Article
PMI Gold Corporation Exercises Unlisted Options
PMI Gold Corporation announced the exercise of 100,000 unlisted options at CAD 0.20 and 100,000 unlisted options at CAD 0.30 in September 2011, raising cash of CAD 50,000. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
