You can learn all kinds of interesting things about mining companies that dump news on Friday night. This is what my software flagged.
Bear Creek Mining … look out below
US hedge fund Equinox Partners filed an alternative monthly report after dropping below 10% ownership on Bear Creek Mining. That means they are no longer a reporting issuer and can sell BCM.V shares at their discretion going forward.
Equinox Partners is Bear Creek’s second-largest shareholder. The largest shareholder is the similarly-named-but-not-related Equinox Gold.
Equinox Gold is pretty strapped for cash these days. They’ll have to start selling something soon to repair their finances. If the hedge fund is front running EQX to get out first, Bear Creek is heading to the basement … and someone made an awful messdown there.
Options for Consultants
Options grants for consultants at a mining company announced on a Friday night? What could possibly go wrong?
Project generator Eagle Plains Resources “has granted incentive stock options to directors, employees and key consultants of the Company for the purchase of a total of 2,487,000 shares at an exercise price of $.24 per share, expiring January 6th 2028, pursuant to the Company’s current option plan (subject to shareholder and regulatory approvals).”
That’s it. They kept it brief and they buried it. But we have two pieces of recent information now:
- There’s a marketing push coming…
- … Which makes sense since Eagle Plains recently announced a royaltyco spin out.
There could be a trade here for those inclined to do some digging.
Financings
Seabridge Gold announced an at-the-market program to sell up to $USD100-million in shares.
G Mining Ventures filed a preliminary base shelf prospectus to raise up to $500-million. GMIN has a market cap of less than half that amount. The press release makes a point of saying GMIN may not move forward with a financing … but the company is trying to develop their Tocantinzinho gold project in a remote part of Brazil. The project already has two royalties on it.
Libero Copper and Element 29 both closed keep-the-lights-on financings of less than $2-million.
Interesting Links
A quick 20% in exchange for a little geopolitical risk?
Dave Bautista is a real actor. On the other hand Vince McMahon is playing to type.
“We’re often told our metabolism speeds up at puberty and slows down in middle age, particularly with menopause, and that men have faster metabolisms than women. None of these claims is based on real science.”
If you got to the end, thank you for reading. Feedback is always appreciated.
