Last C$0.06 CAD
Change Today -0.005 / -8.33%
Volume 1.9K
MLY On Other Exchanges
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Frankfurt
As of 2:27 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

american cumo mining corp (MLY) Snapshot

Open
C$0.06
Previous Close
C$0.06
Day High
C$0.06
Day Low
C$0.06
52 Week High
01/21/14 - C$0.15
52 Week Low
09/4/14 - C$0.05
Market Cap
4.5M
Average Volume 10 Days
74.8K
EPS TTM
C$-0.13
Shares Outstanding
82.3M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for AMERICAN CUMO MINING CORP (MLY)

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american cumo mining corp (MLY) Details

American Cumo Mining Corporation, an exploration stage company, engages in acquiring and developing mineral properties in Canada and the United States. The company primarily explores for gold, silver, copper, and molybdenum. It also operates drilling rigs in the United States. The company was formerly known as Mosquito Consolidated Gold Mines Limited and changed its name to American Cumo Mining Corporation in January 2013. American Cumo Mining Corporation was incorporated in 1979 and is based in Vancouver, Canada.

Founded in 1979

american cumo mining corp (MLY) Top Compensated Officers

Chief Executive Officer, President, Chief Ope...
Total Annual Compensation: C$84.5K
Director
Total Annual Compensation: C$80.0K
Compensation as of Fiscal Year 2013.

american cumo mining corp (MLY) Key Developments

American CuMo Mining Corporation Delays Receivership Application

American CuMo Mining Corporation announced that on August 1, 2014, at the request of legal counsel for International Energy & Mineral Resources Investment (Hong Kong) Company Limited ('IEMR HK') Supreme Court Judge adjourned the hearing to appoint a receiver-manager for CuMoCo. Legal counsel for IEMR HK applied for an adjournment following the filing by the Company of affidavits that presented substantial evidence that contradicted the affidavits presented on behalf of IEMR HK by Mrs. Fu, the wife of Hongxue Fu, ex-chairman, ex-president, and currently a director of the Company and the controlling person of IEMR HK and by Charles Yuen, ex vice-president and currently a director of the Company. Legal counsel for IEMR HK requested the adjournment in order to obtain an affidavit from Hongxue Fu himself, who is currently in China. The company will continue to defend itself from this lawsuit that IEMR HK filed the same day the voting results were revealed at the shareholder-requisitioned general meeting of shareholders held on July 22, 2014. As a result of Mr. Thomas Conway being elected as an additional director of the company and subsequent motions passed by the new Board of Directors, CuMoCo is proceeding forward with the business of the company and entering into discussions with various groups to arrange necessary financing to fund the activities of the company and to remove the debentures that are being used by IEMR HK in an attempt to appoint a receiver. The company is also investigating possible merger and joint venture opportunities to move the CuMo Project forward.

ACMC Seeks Acquisitions

American Cumo Mining Corporation (TSXV:MLY) (ACMC) is looking for acquisition opportunities. ACMC is investigating possible merger and joint venture opportunities to move the CuMo project forward.

American CuMo Mining Corporation Announces Appointment of New Directors and Officers

American CuMo Mining Corporation announced that Thomas Conway was elected as an additional director of the company at the shareholder-requisitioned general meeting of shareholders of the company. The proposals of the requisitioning shareholders to remove Hongxue Fu and Yiming Xie as directors of the company did not garner the requisite 2/3 majority vote to pass. After the shareholder meeting, the Board of Directors met. The following individuals are now directors of the company: Shaun M. Dykes, Joseph Baird, Dr. John Moeller, Thomas Conway, Trevor Burns, Charles Yuen, Hongxue Fu, and Yi Ming Xie. At the meeting of the Board of Directors, Trevor Burns was appointed as an additional director of the company as well as interim Chief Financial Officer; Shaun Dykes was appointed as President and Chief Executive Officer; John Moeller was appointed as interim Chairman of the Board of Directors to replace Hongxue Fu; and Charles Yuen was removed from the position of Executive Vice-President. The Board also appointed Messrs. Conway and Moeller, as well as Joseph Baird, to the Audit Committee and formed a litigation committee comprised of Messrs. Moeller, Baird and Burns to oversee the handling of the litigation involving the Company and International Energy & Mineral Resources Investment (Hong Kong) Company Limited, a company owned and controlled by Hongxue Fu, a director of the company, and his wife. Shaun Dykes, the new President and Chief Executive Officer, welcomes Mr. Conway and Mr. Burns to the board, and stated that this is a major step forward for the company and he looks forward to working with the new board to advance the CuMo project with all deliberate speed and thus increase shareholder value. Since February 1, 2011, Mr. Conway has served as President and CEO of I-Minerals Inc.

 

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