UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Direct General Corporation
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(Name of Issuer)
COMMON STOCK, NO PAR VALUE
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(Title of Class of Securities)
25456W204
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(CUSIP Number)
AUGUST 29, 2005
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(Date of Event which Requires Filing of this Statement)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
[ ] RULE 13D-1(B)
[X] RULE 13D-1(C)
[ ] RULE 13D-1(D)
*THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING
PERSON'S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF
SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH
WOULD ALTER DISCLOSURES PROVIDED IN A PRIOR COVER PAGE.
THE INFORMATION REQUIRED ON THE REMAINDER OF THIS COVER PAGE SHALL NOT
BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES
EXCHANGE ACT OF 1934 (THE "ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES
OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS
OF THE ACT (HOWEVER, SEE THE NOTES).
Page 1 of 12 Pages
CUSIP NO. 25456W204
---------
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GMT Exploration LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 20,000
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
20,000
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,000
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.09%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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Page 2 of 12 Pages
CUSIP NO. 25456W204
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bay Resource Partners, L.P.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 378,900
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
378,900
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
378,900
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 1.8%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
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Page 3 of 12 Pages
CUSIP NO. 25456W204
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bay II Resource Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 200,900
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
200,900
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.9%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
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Page 4 of 12 Pages
CUSIP NO. 25456W204
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bay Resource Partners Offshore Fund, Ltd.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 408,300
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
408,300
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
408,300
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 1.9%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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Page 5 of 12 Pages
CUSIP NO. 25456W204
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GMT Capital Corp.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Georgia
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5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 1,109,900
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,109,900
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,109,900
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.2%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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Page 6 of 12 Pages
CUSIP NO. 25456W204
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas E. Claugus
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 70,700
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 1,129,900
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
70,700
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,129,900
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,200,600
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.6%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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Page 7 of 12 Pages
ITEM 1(A) NAME OF ISSUER:
Direct General Corporation
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1281 Murfreesboro Road
Nashville, TN 37217
ITEM 2(a) NAME OF PERSON FILING:
This statement if filed by:
(i) GMT Exploration LLC, (GMT Exploration), with respect
to shares of Common Stock (defined in Item 2(d) below)
directly owned by it.
(ii) Bay Resource Partners, L.P., (Bay Resource Partners),
with respect to shares of Common Stock directly owned
by it.
(iii) Bay II Resource Partners, L.P., (Bay II), with
respect to shares of Common Stock directly owned by it.
(iv) Bay Resource Partners Offshore Fund, Ltd. (Offshore
Fund) with respect to shares of Common Stock directly
owned by it.
(v) GMT Capital Corp. (GMT Capital) with respect to
shares of Common Stock beneficially owned by it.
(vi) Thomas E. Claugus, (Mr. Claugus), with respect to the
Common Stock directly owned by him and directly owned
by each of GMT Exploration, Bay Resource Partners,
Bay II and Offshore Fund.
The foregoing persons are hereinafter sometimes
collectively referred to as the Reporting Persons. Any
disclosures herein with respect to persons other than the
Reporting Persons are made on information and believe after
making inquiry to the appropriate party.
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE:
The address of the business office of each of the Reporting
Persons is 2100 RiverEdge Parkway, Ste. 840, Atlanta, GA 30328
ITEM 2(c) CITIZENSHIP:
Mr. Claugus is a United States citizen. GMT Exploration
is a limited liability company organized under the laws of
the State of Delaware. Bay Resource Partners and Bay II
are limited partnerships organized under the laws of the
Page 8 of 12 Pages
State of Delaware. The Offshore Fund is organized under
the laws of the Cayman Islands as an exempted company.
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, no par value
ITEM 2(e) CUSIP NUMBER:
25456W204
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B)
OR (C), CHECK WHETHER THE PERSON FILING IS A: N/A
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP:
1. GMT Exploration LLC
(a) Amount Beneficially owned: 20,000
(b) Percent of Class: 0.09% The percentages used herein and in
the rest of Item 4 are calculated based upon the 21,400,228
Shares of Common Stock issued and outstanding as of
August 5, 2005 as reported in the Companys Form 10-Q filed
on August 9, 2005.
Page 9 of 12 Pages
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 20,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 20,000
2. Bay Resource Partners, L.P.,
(a) Amount Beneficially owned: 378,900
(b) Percent of Class: 1.8%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 378,900
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 378,900
3. Bay II Resource Partners, L.P.
(a) Amount Beneficially owned: 200,900
(b) Percent of Class: 0.9%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 200,900
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 200,900
4. Bay Resource Partners Offshore Fund, Ltd.
(a) Amount Beneficially owned: 408,300
(b) Percent of Class: 1.9%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 408,300
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 408,300
5. GMT Capital Corp.
(a) Amount Beneficially owned: 1,109,900
(b) Percent of Class: 5.2%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,109,900
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,109,900
6. Thomas E. Claugus
(a) Amount Beneficially owned: 1,200,600
(b) Percent of Class: 5.6%
(c) (i) Sole power to vote or direct the vote: 70,700
(ii) Shared power to vote or direct the vote: 1,129,900
(iii) Sole power to dispose or direct the disposition: 70,700
(iv) Shared power to dispose or direct the disposition:
1,129,900
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
N/A
Page 10 of 12 Pages
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
GMT Capital, the general partner of Bay and Bay II, has the
power to direct the affairs of Bay and Bay II, including
the voting and disposition of shares. As the discretionary
investment manager of the Offshore Fund and certain other
accounts, GMT Capital has power to direct the voting and
disposition of shares held by the Offshore Fund and such
accounts. Mr. Claugus is the President of GMT Capital and
in that capacity directs the operations of each of Bay
Resource Partners and Bay II and the voting and disposition
of shares held by the Offshore Fund and certain accounts
managed By GMT Capital.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR
CONTROL PERSON.
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
See Item 2.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my
Knowledge and belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are not
held in connection with or as a participant in any transaction having that
purpose or effect.
Page 11 of 12 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge
And belief, I hereby certify that the information set forth in this statement
Is true, complete and correct.
September 8, 2005
/s/ George E. Case III
----------------------------------
George E. Case III, (a) as Vice
President and General Manager of
GMT Capital Corp., for itself and
as the general partner of (i) Bay
Resource Partners, L.P. and (ii)
Bay II Resource Partners, L.P. and
as the investment manager of (iii)
Bay Resource Partners Offshore
Fund, Ltd., and (b) on behalf of
(i) Thomas E. Claugus for himself
and (ii) Thomas E. Claugus as the
CEO of GMT Exploration LLC.
Page 12 of 12 Pages