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Yup. Effectively a reverse split. Don’t ya just love playing this junk.
IDMMF: effective April 3,2019 IDM shareholders will receive 0.0675 of a common share of Ascot for each common share of IDM.
FINRA will delete the symbol.
https://otce.finra.org/otce/dailyList?viewType=Deletions
This is a horrible buyout deal for the shareholders.
Only a fraction of a cent higher and cutting my number of shares
from 3000 down too 200 Ascot shares.
The potential for 3000 shares is much greater then 200.
I bet the company (IDM) got a much better deal.
So corrupt.
You will receive .0675 shares of AOTVF for each share of IDMMF you hold. If you hold 3,000 shares and my math is right that’s 202.5, which they will round up to 203.
3000 shares of IDMMF @ .0425 = 127.50
203 shares of AOTVF @ .669 = 135.81
8.31 is a 6.5% gain
I know that but how will it effect the shareholders?
Not sure what they are saying when the offer for shareholders
is .067 for each IDM share converted to Ascot shares.
Ascot is about .66 now so my 3000 shares of IDM would be reduced
too about 300 in Ascot shares. Not so good.
This is the way I interpet it from the press release but I
could be wrong.
Did we get screwed on this deal?
Ascot Resources Ltd. (TSX.V:AOT, OTCQX:AOTVF) ("Ascot") and IDM Mining Ltd. ("IDM"), announce that they have completed their previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia), pursuant to which Ascot acquired all the issued and outstanding common shares of IDM (each, an "IDM Share"), and, in exchange, shareholders of IDM received 0.0675 of a common share of Ascot for each IDM Share held (the "Transaction"). The Arrangement consolidates Ascot's Premier gold project ("Premier") and IDM's Red Mountain gold project ("Red Mountain"), creating the leading high-grade gold and silver development and exploration company in northwestern British Columbia's Golden Triangle.
Hope so. Got left holding the bag on this one. Ah, pennystocks. Ya gotta love ‘em.
I am optimistic that this has bottomed out and has only
one way to go and that is up!
All this is great, but when does first pour take place?
VANCOUVER, B.C., March 21, 2018 (GLOBE NEWSWIRE) -- IDM Mining Ltd. (TSX-V:IDM) (OTCQB:IDMMF) (“IDM” or the “Company”) is pleased to announce a non-brokered private placement financing (the "Offering") to sell flow-through units ("Flow-Through Units") at a price of $0.09 per Flow-Through Unit and non-flow-through units ("Common Units") at a price of $0.08 per Common Unit, for aggregate gross proceeds of up to $4.35 million.
Each Common Unit will consist of one common share of the Company (a “Common Share”) and one-quarter of one non-transferable share purchase warrant, with each warrant entitling the holder thereof to acquire one Common Share at a price of $0.12 per Common Share for a period of twenty-four (24) months following the closing of the Offering.
Each Flow-Through Unit will consist of one flow-through common share of the Company (a “Flow-Through Share”) and one-quarter of one non-transferable share purchase warrant, with each warrant entitling the holder thereof to acquire one non-flow-through Common Share at a price of $0.12 per Common Share for a period of twenty-four (24) months following the closing of the Offering.
The warrants issued in the Offering will not be listed for trading.
A maximum of 54,375,000 Common Units are issuable under the Offering, which assumes that the maximum gross proceeds are raised through the issuance of Common Units.
The net proceeds of the Offering will go towards permitting, community relations, First Nation engagement, engineering and development activities of the Company’s Red Mountain Gold Project (the “Project” or “Red Mountain”) located near Stewart, BC and for working capital purposes.
Closing of the Offering is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The securities issued will be subject to a standard four month hold period.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable securities laws of any state of the United States and may not be offered or sold in the United States, or to, or for the account or benefit of a U.S. person (as defined in Regulation S 2 under the 1933 Act) unless registered or pursuant to an available exemption from such registration requirements.
ABOUT IDM AND RED MOUNTAIN
IDM Mining Ltd. is an exploration and development company based in Vancouver, BC, Canada focused on advancing the high-grade, low Capex, Red Mountain Gold Project towards production. The 17,125 hectare Red Mountain Gold Project is located in northwestern BC, 15 km northeast of the mining town of Stewart. In 2017, IDM announced the results of a positive Feasibility Study for a high-grade, underground gold mine, which includes primarily bulk underground mining methods and the production of gold doré on site. The Project is advancing through the provincial and federal environmental assessment processes, with comprehensive, thorough, and ongoing consultation with Nisga’a Nation. The Project is currently in the Application Review phase of the BC Environmental Assessment Office and the Canadian Environmental Assessment Agency.
Additional information, including the Company’s NI 43-101 Technical Reports for the Red Mountain Gold Project, are available at www.idmmining.com and at www.sedar.com.
ON BEHALF OF THE BOARD
of IDM Mining Ltd.
“Robert McLeod”
President, CEO and Director
For more information, contact:
Robert McLeod
604-681-5672 direct
604-617-0616 cell
rm@idmmining.com
Vanessa Pickering, Manager Corporate Communications & Development
604-681-5672 ext. 7112 direct
604-202-2940 cell
vp@idmmining.com
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Offering and the use of proceeds from the Offering, proposed exploration and development activities and their timing, and other plans and objectives of IDM. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others and in addition to those described elsewhere in this release, receipt of regulatory and shareholder approvals of the Offering, inability to complete the financing on the proposed terms or at all, delays in obtaining or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing other development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns and bad weather, the timing and success of future exploration and development activities, exploration and development risks, mineral resources are not as estimated, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors and general economic conditions. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: the Offering will proceed and be completed as planned; required regulatory and shareholder approvals will be obtained; the proposed exploration and development will proceed as planned; with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based; that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated, and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur, and market fundamentals will result in sustained metals and minerals prices. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
https://globenewswire.com/news-release/2018/03/21/1443705/0/en/IDM-Mining-Announces-4-35-Million-Non-Brokered-Private-Placement.html
IDM Mining Updates Continued Engineering Advancement for the Red
Mountain Gold Project and EA/EIS Review Status> http://www.idmmining.com/_resources/news/180320.pdf
I would really like this position except for the facts that they have
3.5% in NSR and 10% of their production capped at $1000 up to the first 500K ounces. As currently structured I will not be a buyer.
I'm with you just higher up in the bushes!
Lots of risk here: the manipulated price of gold; the dilution of the stock thru multi-million issuances (including tranch arrangements) that take 100M shares to collect another 10M of working capital to take the company thru permitting, set-up and into first pour status. I guestimate the current share outstanding status to be about 450M shares; the more issued the less each share's value no matter what happens: buyout, eureka discovery or simply getting to first pour.
This whole thing seems to be pretty well managed, and personal to the owner. He is very experienced/professional and appears to be aware of the shark infested waters within which he swims.
My calculation is that as he gets further down the road the downside risks should lessen somewhat also. A good portion of all this speculation is simply surviving long enough to more fully explore the site and get to first pour.
Obviously, this is not a retail stock. The company is surrounded by insiders in the gold business and fairly astute institutional resource investors. A good place for a small guy like me to be hiding in the bushes nearby.
Another invite by a long blogger of idm:
http://resourceopportunities.com
What will the spring bring into focus next year?
I have 100K shares. Looks like first pour isn't until late 2018 or 2019. Buy out before then more likely. I guesstimate they will encounter more veins of au and ag ore underground and on the surface of the property before then.
Unless they make a big strike, (none of the 2017 work is entered into the just-completed feasibility study), I again guesstimate that we are talking about 1 million 0z of AU and 3 million Oz of AG reserves. With a current market valuation at about $40 M, it becomes a more attractive target for buyout the closer it progresses towards first-pour. Seems to be where McLoed's head is realistically at: https://twitter.com/goldfinder12
In the company's presentation (page 26) seems like idm is at the bottom of the current Price to NAV list of comparable small mines (both operating and not yet operating). They range from a market cap of $340 M to $1.2B. If idm has the reserves I guesstimate of 1M oz of AU and 3M oz of AG; by first pour a mid-range market cap of about $0.75B should be a reasonable guess at this point. A roughtly 20 X market cap increase makes it pretty cheap pickings at this point. 5X a market cap increase (or $200M) would still leave the buyer with a roughly 3X increase in value to be reaped from the adjoining increase from the development of the reserves.
Of course, any eureka moment/discovery from here to there changes the game dramatically to the upside. The feasibility plan appears to define a limited downside risk in the event of no more discoveries. According to the company's schedule of near term deliverables (prsentation page 29) surface exploration and drilling are now underway and they will update resource estimates
in Q1 of 2018. Environmental certificates by 1st half of 2018.
With a "geologic analogue to KSM" and no significant exploration work done since 1996 (page 23) the future looks promising indeed.
So far they have done everything they said they were going to do to date, and roughly on schedule. The above sure paints a pretty picture. Oh, and the shares are 80% owned by the big guys (33% by other mining companies).
With the price of gold under china/india/russian pressure, I really like the odds on this one.
What's to not like about the above picture?
Yes it is......bought 300k shares gonna ride this company til they get bought out or begin mining!!
been watching this for long time,,,their time is coming,,,soon
Already got ya brother.....thanks for the hit...GLTY!!!
NEWS YESTERDAY AS WELL,,,,VERY GOOD,,,MOVING FORWARD
http://idmmining.com/_resources/news/170710.pdf
LATEST NEWS JULY 11 TODAY,,,LINK HERE
http://idmmining.com/_resources/news/170711.pdf
Nice report.
I have in the last few months held these shares
and now plan to accumulate more.
Thanks make more sense with the name.
RVRCF changed to IDMMF:
http://otce.finra.org/DLSymbolNameChanges
Looks good and fully funded now with and great partner in Osisko Gold.
Volume picking up; dramatically today. Feasibility study nearby no doubt. Double from here?
No production start, if all goes well, until late 2018.
Using conservative approach; this is a 5-year job plan for some of the locals. And it is personal for the owner, who maintains control, putting up front $7 M of his own money.
Ice has retreated quite a bit in the area as of late. Sounds like some very good stuff is just lying on or near the surface of the ground in several areas.
Perhaps this season will reveal more about the potential full extent of the promise of au and ag in this area. Other metals could also be a surprise. Not fully costed out yet on the conservative estimates to date. Any additional resource estimates is simply more gravey to the mix.
I believe Casey picked this one also--
(WRN) excellent fundamentals.
It is holding it's own @ about 1.30
The problem there is also the volume.
The shorts are still hanging around because
of low volume.
I hold both stocks but I am going to add more to this one.
IDM presenting March 1st big investors
http://wallstconference.com
Platinum Sponsors
2:20 pm
IDM Mining [TSX : IDM] in Canada & [OTC : RVRCF] PLATINUM SPONSOR
Real activity on this newly-purchased company started in april-may of last year (2016). Price, volume, money flow, and slow stocastic, and rsi have been creeping up since the beginning of the new year. It appears the casey piece predicts some big news at the beginning of the snow melt this year. The snow is below the doorknobs of the bildings this year (low snow year, lol), so work should begin in earnest early this year. I am almost all-in at about $0.13 already.
The only question is how high will this go on the good news? First pour is supposedly not until late 2018 or early in the 2019 season. Will it then go parabolic?
I love it when I am so far ahead of the maddening crowd.
chirp
when the volume goes up significantly, it will mean the word is getting out to a broader audience
cricket, chirp, chirp
cricket, chirp, cricket, chirp chirp. lol
A fun link to the owner/founder:
https://twitter.com/goldfinder12
Either he (or his dad) were elected to the canadian hall of fame.
Another interesting outlet and ally in the far north. Part of idm's portfolio, recent agreements just announced.
http://blog.ceo.ca/2016/02/10/yukon-2-0-shawn-ryan-rob-mcleod-join-forces-on-another-northern-gold-hunt/
I don't know if this will work, but what the heck:
http://www.caseyresearch.com/cm/new-mining-stock-discovery-presentation
This guy "casey" has been teasing me for years with his "only" $2000 per year service. I believe they are describing my underground mine at IDM Mining and combining it with the recent surface explorations at the same site reported in the other articles.
thank me later
cricket
cricket
chirp
An even better look:
http://resourceopportunities.com/building-a-miner-in-the-golden-triangle/
I like the sound of the chirping crickets on this board.
This seems to be the one:
http://seekingalpha.com/article/4028823-idm-mining-committed-increasing-size-one-north-americas-lowest-cost-gold-projects
dd takes work and time
Thnx doinit, nice clip.
probably no new issues of stock for some time co. has approx. $8mill. in the bank account
latest share count info
IDM Capitalization
Shares Outstanding
279.2M
Options
18.8M
Warrants
111.9M
Fully Diluted
409.9M
I'm watching for a bottom on this one,,,seems soon
DON'T LOSE HOPE AND WATCH THIS LINK,,,,SOON,,,NEXT YEAR
Every miner I own was red today. Not pretty.
no.reason.for.this.pps.drop,,,,excellent.drilling.results,,, excellent.news.pr.linked
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aIDM-2417085&symbol=IDM®ion=C
IDM Mining VIDEO PRESENTATION - RVRCF
http://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2016/09/15/idm-mining-ltd/play/stream/20209
Presentation by
IDM Mining Ltd.
Rob McLeod, President & CEO
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