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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Business Summary: Geovic Mining Corp., through its subsidiaries, engages in the exploration and development of mineral properties. The company operates cobalt, nickel, and manganese mining projects in the Republic of Cameroon, Africa. It also engages in the exploration of energy and mineral resources worldwide.
 
Address
  1200 17th Street, Suite 980
  Denver , CO 80202
  Phone: 303-476-6455
  Fax: 303-476-6456
  Website: http://www.geovic.net
Transfer Agent
  Pacific Corporate Trust Co.
Employees:  49
ShareHolders:  454
Founded:  1984
Domicile:  Delaware
 
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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Geovic Mining Corp., through its subsidiaries, engages in the exploration and development of mineral properties. The company operates cobalt, nickel, and manganese mining projects in the Republic of Cameroon, Africa. It also engages in the exploration of energy and mineral resources worldwide. In addition, the company holds uranium leases and claims in Colorado and Wyoming, as well as a leasing and mining claim of gold in Southeastern Arizona. Geovic Mining Corp. is headquartered in Denver, Colorado.
History:  INCORPORATED in Delaware Nov. 21, 2006 as Geovic Mining Corp., as the continuance of an Ontario concern incorporated on Nov. 8, 2001 under the name Resource Equity Ltd. to continue an Alberta concern of the same name originally incorporated Aug. 27, 1984. Name changed from Resource Equity Ltd. to Geovic Mining Corp. on Nov. 21, 2006. December 1, 2006, in a reverse takeover transaction, the company acquired 100% of the outstanding shares of Geovic, Ltd. and Geovic Finance Corp., on the basis of two shares of the company's Common for each Geovic, Ltd. Common share held, and one Common and one Preferred share of the company for each Common and Preferred Geovic Finance Corp. share held. Also on Dec. 1, 2006, the company acquired 4.5% (45 shares) of the issued and outstanding shares of GeoCam Cameroon, PLC, in exchange for 1,250,010 shares of its Common stock. A total of 62,142,943 Common shares in the aggregate were issued by the company in the acquisition transactions. Following the acquisitions, Geovic, Ltd. and Geovic Finance Corp. became wholly owned subsidiaries of the company, and the company subsequently transferred its holdings in GeoCam Cameroon, PLC to Geovic, Ltd.
 
Subsidiaries:
Geovic Cameroon PLC
Geovic Energy Corp.
Geovic France SAS
Geovic Mineral Sands Corp.
Geovic Nouvelle-Caledonie SAS
Geovic, Ltd.
Pawnee Drilling, LLC
 
 
Capital Expenditures, thousand. Canadian Dollars
  Year  Amount
  2009  303
  2008  5,807
  2007  3,360
 
 
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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Management
OfficersPosition
 Wade  NesmithChairman
 John E. Sherborne, Jr.President & Chief Executive Officer
 Gregory C. HillExec VP & Chief Financial Officer
 David C. BelingExec VP & Chief Operating Officer
 Alan W. PeryamSR VP & General Counsel
 Diane M. HartnettChief Accounting Officer & Controller
 Barbara A. FilasChief Administrative Officer
 Gary R. MorrisSR VP
 Conrad B. HouserSR VP
 Shelia I. ShortSecretary
 Andrew C. HoffmanInvestor Relations Contact

Directors
 William A. Buckovic
 Michael A. Goldberg
 R. J. MacDonald
 Michael T. Mason
 Wade  Nesmith
 John T. Perry
 Paul D. Rose
 Gregg  Sedun
 John E. Sherborne, Jr.
 
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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.0001 par200,000,000103,700,000
Preferred50,000,000None
 
LONG TERM DEBT: None.
 
Common $0.0001 par
 
UNITS OFFERED: February 23, 2007, the company, through Canaccord Adams Limited, Orion Securities Inc. and Desjardins Securities Inc., agent, offered 20,000,000 Units at Canadian Dollar (C$) 2.50 per Unit; comm., C$0.15 per Unit. Each Unit consisted of one Common share and one-half of a warrant to purchase one Common share, with each whole warrant exercisable for the purchase of one additional Common share at a price of C$3.00 for a period of five years from the closing date of the offering. An additional 1,600,000 Units were available to cover over-allotments- all sold. April 19, 2007, the company, through Canaccord Adams Limited and Orion Securities Inc., underwriters, offered 8,750,000 Units at C$4.00 per Unit; comm., C$0.20 per Unit. An additional 1,312,500 Units were available to cover over-allotments- 834,200 Units sold. Each Unit consisted of one Common share and one-half of a warrant to purchase one Common share, with each whole warrant exercisable for the purchase of one additional Common share at a price of C$5.00 until Apr. 27, 2012.
 
Stockholders:  03/24/2010, 454.
PRINCIPAL STOCKHOLDERS: April 23, 2010, William A. Buckovic owned or controlled 11.7% of the Common, Tradewinds Global Investors, LLC 10.5% and Paul D. Rose 9.0%.
 
Transfer Agent:  Pacific Corporate Trust Co.   Vancouver , British Columbia
 
OTC Bulletin Board( Primary): GVCM
 
 
Toronto Stock Exchange( Secondary): 
 
ExchangeYearHighLow
OTC Bulletin Board20090.76000.3300
Toronto Stock Exchange20081.10000.3600
Toronto Stock Exchange20074.62001.3000
TSX Venture Exchange20063.25000.1875
TSX Venture Exchange20050.46880.3516
 
RECENT DIVIDENDS: Common $0.0001 par: No cash. Common split 1-for-2.344 reverse, Nov. 17, 2006.
 
 
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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Annual Report
 
Income Statement
  200920082007
EXPENSES
General and Administrative(8,236)(6,382)(3,276)
Exploration Costs(10,966)(27,464)(9,189)
Stock based Compensation(972)(2,466)(2,111)
Depreciation(734)(244)(76)
Mineral Property Impairment-(3,244)-
Interest and Bank Charges(55)(152)(59)
Interest Income1121,1323,235
Change in Fair Value of Warrants(116)--
Earnings before Taxes(20,967)(38,820)(11,476)
TAXES AND OTHER EXPENSES
Provision for Income Tax75436414
Minority Interest (After Tax)4,60111,5013,214
Net Income (Loss)(16,291)(26,883)(7,848)
SUPPLEMENTARY INFO
Basic EPS - Continuing Operations(0.16)(0.26)(0.09)
Diluted EPS - Continuing Operations(0.16)(0.26)(0.09)
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash and Cash Equivalents49,15364,184
Income Tax Receivable-458
Prepaid Expenses462444
Other Current Assets197541
Total Current Assets49,81265,627
NON CURRENT ASSETS
Property, Plant and Equipment, Net4,2984,742
Others-132
Deposits1923
Total Assets54,12970,524
CURRENT LIABILITIES
Accrued Liabilities and Other Payables3,4235,176
Total Current Liabilities3,4235,176
NON CURRENT LIABILITIES
Minority Interest9,8659,144
Other Liabilities6821,023
Related Party Payables328152
Share-based Payment Liability791-
SHAREHOLDERS' EQUITY
Common Stock - Par Value1010
Additional Paid in Capital107,625106,648
Deficit Accumulated during the Development Stage(69,673)(67,377)
Stock Purchase Warrants1,07815,748
Total Shareholders Equity39,04055,029
Total Liabilities & Shareholders Equity54,12970,524
 
 * Financial statements represent fiscal years ended Unaudited period from Nov. 16,'94 inception to Dec. 31,'09.
 
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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Interim Report   
 
Data Not Available
 
 
 
 
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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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Geovic Mining Corp.
Symbol:  GVCMSymbol:  


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   1Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2008   Full Year Nil
  2007   1Nil
  2007   2Nil
  2007   3Nil
  2007   4Nil
  2007   Full Year Nil
  2006   1Nil
  2006   2Nil
  2006   3Nil
  2006   4Nil
  2006   Full Year Nil
  2005   1Nil
  2005   2Nil
  2005   3Nil
  2005   4Nil
  2005   Full Year Nil
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(3,550,000)
  2009   1(3,980,000)
  2009   2(4,540,000)
  2009   3(3,420,000)
  2009   4(4,350,000)
  2009   Full Year (16,290,000)
  2008   1(3,450,000)
  2008   2(6,890,000)
  2008   3(4,990,000)
  2008   4(11,550,000)
  2008   Full Year (26,880,000)
  2007   1(2,370,000)
  2007   2(1,750,000)
  2007   3(1,770,000)
  2007   4(1,960,000)
  2007   Full Year (7,850,000)
  2006   Full Year (6,840,000)
  2005   Full Year (2,820,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.03)
  2009   1(.04)
  2009   2(.04)
  2009   3(.03)
  2009   4(.04)
  2009   Full Year (.16)
  2008   1(.03)
  2008   2(.07)
  2008   3(.05)
  2008   4(.11)
  2008   Full Year (.26)
  2007   1(.03)
  2007   2(.02)
  2007   3(.02)
  2007   4(.02)
  2007   Full Year (.09)
  2006   1(.01)
  2006   2(.03)
  2006   3(.07)
  2006   4(.05)
  2006   Full Year (.16)
  2005   1(.02)
  2005   2(.03)
  2005   3(.02)
  2005   4(.08)
  2005   Full Year (.15)
 
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