Last C$0.08 CAD
Change Today +0.01 / 14.29%
Volume 71.0K
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As of 3:54 PM 07/21/14 All times are local (Market data is delayed by at least 15 minutes).

american cumo mining corp (MLY) Snapshot

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52 Week High
07/24/13 - C$0.18
52 Week Low
07/9/14 - C$0.06
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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

Executive Chairman
Total Annual Compensation: C$80.0K
Chief Operating Officer and Director
Total Annual Compensation: C$84.5K
Compensation as of Fiscal Year 2013.

american cumo mining corp (MLY) Key Developments

American CuMo Mining Corporation Provides Update on Default Allegations of General Security Agreement of is Debentures; IEMR(HK) Files Lawsuit Against American CuMo Mining and its CFO-Shaun Dykes; Announces Resignation of Aurora Davidson, Chief Financial Officer

American CuMo Mining Corporation announced that it has received a notice filed on behalf of IEMR(HK), that the company has defaulted on its two debentures with IEMR(HK). IEMR(HK) alleges among other things that the company disposed of assets contrary to a section of the general security agreement. The company will be seeking independent legal counsel to vigorously defend the allegations, as the company has not defaulted on any conditions of the debenture agreements. IEMR(HK) also has filed an additional lawsuit against the company and the Chief Operating Officer, Shaun Dykes in which IEMR(HK) is seeking an oppression remedy. The company has accepted the resignation of Aurora Davidson, the company's Chief financial Officer, as of June 30, 2014.

American Cumo Mining Corporation Announces Changes to its Management Team

American Cumo Mining Corporation announced changes to its management team. The Board of Directors of the company have resolved to undertake a search for a new President/Chief Executive Officer. Hongxue Fu, formerly the company's executive Chairman and President, has been appointed executive Chairman; Shaun Dykes, formerly the Company's interim Chief Executive Officer, has been appointed Chief Operating Officer and Charles Yuen, recently elected a director of the Company, has been appointed as Executive Vice-President. Messrs Dykes and Yuen will be responsible for managing the day-to-day operations of the Company until the new President and Chief Executive Officer has been appointed. The Board has also appointed an Audit Committee comprised of Joseph Baird, John Moeller, Charles Yuen and recently-elected director Yiming Xie.

American Cumo Mining Corporation Plans to Amend Articles of the Company

American Cumo Mining Corporation, at its AGM to be held on December 16, 2013, plans to consider, and if thought fit, to pass a special resolution to amend the articles of the company to provide the Chief Executive Officer of the company with a second or casting vote in the case of an equality of votes in respect of questions arising at a meeting of the board of directors.


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