Hiatus Announcement

This blog is going to be put on hold until the new year - specifically, until January 2nd of 2008. There are two reasons why I'm shutting it down for the rest of the year:

1. I have a data-gathering chore that's going to take about that much time for me to complete. I thought I could do it on the side, but the operation of this blog and the Stockhouse one take too much time for me to do so. Rather than let it dangle, I've decided to get the rest of it done all at once. The result won't show in any new features in either blog, but it will show in occasional research reports.

This won't mean I'll be ignoring the NEX action from Monday to the end of December, though, In part, reason #2 explains why:

2. Okay, I've opened up a brokerage account. Although I believe that I'm sufficiently habituated to the format established in both blogs to keep my objectivity, it seems better to get player-time out of the way while the blogs are on hold, especially since the task identified in reason #1 is still hanging over my head. If I still have money in the NEX-board market by January 2nd, I will disclose it.


Since I'll still be watching, there won't be any 'back from vacation' fillips in the reports once they resume. Plus, as I indicated, I'll be keeping up with the contemporaneous NEX data during the rest of this month and all of next month. A 'working vacation' it will be - I'm quite sure of it.


Note: In an earlier post, which I've deleted, I may have indicated or said that the previous hiatus will be the final one. The above explains why I've shifted course.


[Cross-posted at the Barrel's Bottom Blog over at Stockhouse, with appropriate edits.]

NEX Report for November 2, 2007

On Friday, the Barrel's Bottom Composite Index for the NEX closed at 90.31, up 0.19 points or 0.211% from its previous close of 90.12. Despite the fact that it was almost completely an up day for the BBCI, the index fell more than a tenth of a point in the first minute of trading, to below 90. A 0.5 cent/share opening decline in Sharpe Resources Corporation [NEX: SHO.H] and a 1 cent/share opening decline in the price of Stone Mountain Holdings Inc. [NEX: SMO.H] combined to put the index at 89.98 as of 9:31 AM ET, where it remained until 9:33 AM ET. This level marked the low of the day.

It was a 1 cent/share opening gain in the price of Golden Hat Resources Inc. [NEX: GHA.H], again the NEX board's most active trader of the day, that pushed the BBCI up above 90 again. A 3 cent/share opening rise in the price of Monster Uranium Corp. [NEX: MU.H] as of about 9:39 AM ET, and a 3.5 cent/share gain in the price of Washmax Corp. [NEX: WMC.H] as of about 9:42 AM ET, both pushed the index up above 90.2 as of the latter time. The BBCI stayed between 90.19 and 90.25 until 10:36 AM ET, when 90.3 was broken due to a 1 cent/share recovery in the price of Stone Mountain. 90.4 was broken in the next minute because of a further 1 cent/share advance in the same stock.

After a reversal down to almost 90.3 as of 11:09 AM ET, which lasted for two minutes, the BBCI more than recovered; 90.5 was broken through as of 11:20 AM ET thanks to a 2.5 cent/share interday gain in Washmax. After sinking to just below 90.5, the index leapt up above 90.7 as of 11:59 AM ET because of a 5.5 cent/share opening leap in infrequently-traded Prism Resources [NEX: PRS.H] on its first and last trade of the day. A 2 cent/share interday decline in the price of Trilogy Metals Inc. [NEX: TRI.H] as of about 12:03 PM ET, which put TRI.H back to unchanged, lowered the BBCI from 90.77 to 90.71. This pullback proved to be a long pause, though, in preparation for the index to briefly break above 90.8 as of 12:43 PM ET and to make its daily high of 90.87 as of 12:45 PM ET. The high lasted until 12:50 PM ET, after which an afternoon drop started.

A 5 cent/share opening decline in the price of Maximum Ventures Inc. [NEX: MVI.H] on its first and last trade of the day knocked the index down to 90.53. By 1:00 PM ET, the decline had continued down below 90.4. An hour later, the BBCI was at 90.33. By 2:12 PM ET, a mid-afternoon recovery began, which took the BBCI all the way back to above 90.7 by 2:38 PM ET. This recovery failed to hold, though, despite a second attempt to rise durably above 90.7 as of 3:17 PM ET, and the BBCI found itself at 90.57 as of 3:27 PM ET. It remained at that level until a couple of last-minute declines in International Alliance Resources Inc. [NEX: ALL.H], of 2 cents/share as of about 3:57 PM ET and of a further 3.5 cents/share as of 3:58 PM, lowered the BBCI to its closing value of 90.31.


Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:

• 10 AM ET: 90.24
• 11 AM ET: 90.40
• 12 PM ET: 90.77
• 1 PM ET: 90.37
• 2 PM ET: 90.33
• 3 PM ET: 90.48
• 4 PM ET/Close: 90.31

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during November 1st and the third part covers NEX stocks of note for that day.


[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]


NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page

News Releases From NEX Companies For November 2nd

There was one news release from a NEX company that was picked up by Marketwire on Friday. The Endurance Fund Corporation [NEX: END.H] announced that it had received qualified approval from the TSX Venture for its Qualifying Transaction, a takeover of North American Uranium Corp., which is expected to close as of November 15th. A private placement is expected to close concurrently. Once done, Endurance plans to apply for transfer to Tier 2 of the Venture Exchange.

There were no bulletins from any NEX company at the bottom of Friday's TSX Venture Daily Bulletins, but there was one from a soon-to-be NEX issue. Everbright Capital Corporation [VSE: EBC.P] is moving to the NEX starting on Monday. As of then, its new symbol will be EBC.H. The company is currently suspended from trading; it last closed at 10 cents/share in the beginning of May. Canjex Publishing has webbed a copy of the bulletin announcing the transfer.

One news release was sent out exclusively through Canjex on Friday. It's a report about the financial troubles that Stone Mountain Holdings Inc. [NEX: SMO.H] has been having - specifically, about its trouble with paying a rather large gas bill. Stone Mountain is being sued by Access Gas Services Inc. for an unpaid bill in the amount of $110,399 for gas provided ever since March of this year. "This should surprise no one. In a press release issued a week before Access filed its lawsuit, Stone Mountain said it was shutting down its business and liquidating the assets of its operating subsidiary Re-Con Building Products Inc. Re-Con owes HSBC Bank Canada $1.4-million, and Stone Mountain will use the proceeds of the liquidation to pay the bank. Louis Clarke, the company's president, also said that while Stone Mountain was a guarantor of subsidiary's debt, it did not expect HSBC would call the guarantee. Perhaps there will be something left over for the gas bill." SMO.H closed on Friday at 2.5 cents/share, down 0.5 cents/share from Thursday's close.

In addition to the above items, there were also SEDAR-filed financial statements announced on Friday:

• Nugget Resources Inc. has filed its audited annual financial statements for FY 2007, with accompanying M D & A.

To read about the highlighted NEX stocks for Friday, you can go here.

Nugget Resources Inc. Files Audited Annual Report With SEDAR

Nugget Resources Inc. [NEX: NUG.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th. The financials [PDF file] got an unqualified opinion from the auditors.

There was no cash on Nugget's balance sheet for either fiscal year '07 or FY '06. Current assets increased from $1,338 in FY '06 to $3,395, but current liabilities also increased in the same time period, from $103,321 to $161,809. As a result, Nugget's working capital deficit increased from $101,983 to $158,414. Book value decreased from -0.676 cents/share to -1.05 cents/share.

Expenses went from $10,350 to $56,431, with all three expense categories going up. Transfer agent and filing fees went from $5,350 to $8,914; professional fees went from $5,000 to $16,686; and, general and administrative fees went from nil to $30,831 from FY '06 to FY '07. Since there were no other items, losses for each fiscal year equaled the expenses. In per-share terms, the FY '06 loss was 0.0686 cents and the FY '07 loss was 0.374 cents. The $21,223 used in operating activities was made up for by the same amount in advances from related parties, listed on the statement of cash flow as a financing transaction. As note 4 explains, there were two related-party debts of significance, as well as two others. The former two were: "At June 30, 2007 $47,314 (2006 - $27,676) was owed to Drillsearch Energy (Canada) Inc... for expenses paid by Drillsearch on behalf of the Company. At June 30, 2007 $31,800 (2006 - $nil) was owed to Modaven Capital Corporation... - a company controlled by a director - for consulting fees." The latter debt, as note 5 explains, is pursuant to a 2-year management contract made by Nugget with Modaven, for consulting services in exchange for $2,500/month.

The accompanying M D & A [PDF file] starts off by noting that Nugget has no assets of significance, which includes no mining properties or claims, and has no revenues. The rise in expenses is explained as necessiated by the reactivation of the company. (Nugget recently had two cease-trade orders against it revoked, as of October 18th for both of them. There are no more outstanding.) NUG.H still remains suspended by the exchange.

Highlighted NEX Stocks For November 2nd

Thirty-five NEX stocks traded on Friday. Of these, 13 advanced, 7 declined and 15 remained unchanged. There were 137 trades. The top trader in terms of raw volume, as it was on Thursday, was Golden Hat Resources Inc. [NEX: GHA.H], with 869,000 shares traded. According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Friday was also Golden Hat. In addition, GHA.H traded the most frequently of any NEX-board stock, as elaborated upon below, as well as first on the top ten daily-turnover list found below. This makes Golden Hat the "stock of the day" for Friday.

Two NEX stocks traded more than ten times on Friday. The most numerous trader in terms of number of trades was, as mentioned just above, Golden Hat; it traded 29 times. The action in GHA.H's trading was much like that of Thursday's: the stock strained at the resistance level of 10 cents/share, sometimes reaching above it but then falling back down; it ended up with a slight gain on the day. As might be expected, there were presumably several large blocks in the trades, as suggested by similarities in timing and buy-side financial institution. The first ten trades, all made from about 9:34 AM ET to 10:36 AM ET, were all made through Wolverton. The first six trades all went within three-and-a-half minutes of each other, but their total volume was 162,000. Based upon the trade record, it seems that there was one block of 160,000 shares or two of 80,000 each, with a 2,000 share trade stuck in between them as the third trade, but the record wasn't definitive on this count. The first six went at 10 cents/share, and the seventh went at 9.5 cent/share. The last four of the ten left a less ambiguous record; they seemed to comprise a single block of 150,000 shares. Those four trades all went at 9.5 cents/share. There also seemed to be: a 50,000-share bought block, comprised of 2 trades both of which went at 10 cents/share, through Canaccord that made up trades twelve and thirteen; a 250,000 share bought block comprised of trades sixteen through twenty, as bought through Scotia at prices of 10, 10, 10.5, 11 and 11 cents/share for each of those trades; a 40,000 share block, composed of trades 23 and 24 as bought through an anonymous financial institution at 10.5 cents/share; and, a 40,000 share block made up of trades 26 and 27, as bought through Canaccord at 10 cents/share. As was the case yesterday, large four-figure-valued trades have seemingly been put into Golden Hat over the last two days - in a few cases, five-figure-valued. The sell-side financial institutions, as was the case yesterday, didn't cluster in a similar unambiguous way beyond (in a few cases) 2-trade clusters, none of which summed up to more than five-figure volumes. This two-day pattern suggests that GHA.H shares are moving from the holders of relatively small positions to buyers of relatively large positions.

The price changes in GHA.H indicate such, although there is still some resistance to a clean break over 10 cents/share. As indicated above, the opening price of Golden Hat shares was 10 cents/share; it stayed at that price for 6 trades. The next five saw a dip to 9.5 cents/share, which went back to 10 cents/share by trade twelve. The next trade went at 10.5 cents/share, but this nudge above 10 cents/share didn't last: the next three went at 10 cents/share. The eighteenth, though, put the price at 10.5 cents/share again, and the following two went at 11 cents/share. This second attempt didn't last either; the next four trades went at 10 cents/share. The one after those four, the last trade of the day, went at 9.5 cents/share; its price equaled the day's low that was set by trades seven to eleven. So, Golden Hat closed at 9.5 cents/share, at its daily low, but nevertheless up 0.5 cents/share on the day. 176,000 shares, or $16,720 worth, traded at 9.5 cents/share; 439,000 shares, or $43,900 worth, traded at 10 cents/share; 160,000 shares, or $16,800 worth, traded at 10.5 cents/share; and, 94,000 shares, or $10,340 worth, traded at 11 cents/share.

Second-highest in number of trades on Friday was still-frequent-trader Trilogy Metals Inc. [NEX: TRI.H], with fourteen of them. The price action in Trilogy was relatively sedate, with the stock opening up unchanged at 90 cents/share. The next five, not including an odd-lot-sized trade of 300 shares at 87 cents/share, went at 92 cents/share; that odd-lotter was the third of the day. The rest of them, though, went at 90 cents/share. So, Trilogy closed at 90 cents/share, unchanged on the day, on daily volume of 40,300 shares - relatively light with respect to the rest of the week.

The top percentage gainer in Friday's trading was Global Tree Technologies Inc. [NEX: GTT.H], which closed at 2 cents/share for a gain of 0.5 cents/share, or 33.33%, on the day. A single trade, of 10,000 shares as of about 3:16 PM ET, set the closing price that put Global Tree at the top of this category.

The top percentage decliner for Friday was International Alliance Resources Inc. [NEX: ALL.H], which closed at 12 cents/share for a decline of 5.5 cents/share or 31.43%. There were only two trades of ALL.H, one of 11,000 shares at 15.5 cents/share and the other of 14,000 shares at 12 cents/share. Both were sold through Canaccord, and both went within seventy seconds of each other, suggesting that a sold block of 25,000 shares depressed the price. The first of the two trades went at about 3:56 PM ET.

Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):

1. Golden Hat Resources Inc. [NEX: GHA.H], closed at 9.5 cents for a gain of 0.5 cents - 2.52% of total shares outstanding;
2. BHR Buffalo Head Resources Ltd. [NEX: BHR.H], closed at 22 cents for a gain of 3 cents - 1.38% of TSO;
3. Stone Mountains Holdings Inc. [NEX: SMO.H], closed at 2.5 cents for a loss of 0.5 cents - 0.716% of TSO;
4. Electrohome Limited class 'Y' non-voting [NEX: ELL.K], closed at 15 cents unchanged - 0.451% of TSO;
5. Monster Uranium Corp. [NEX: MU.H], closed at 50 cents for a gain of 6 cents - 0.443% of TSO;
6. Electrohome Limited class 'X' voting [NEX: ELL.H], closed at 12 cents unchanged - 0.389% of TSO;
7. Magnate Ventures Inc. [NEX: MGV.H], closed at 32 cents for a gain of 1.5 cents - 0.324% of TSO;
8. Gtech International Resources Limited [NEX: GCH.H], closed at 32 cents for a loss of 3 cents - 0.290% of TSO;
9. Trilogy Metals Inc. [NEX: TRI.H], closed at 90 cents unchanged - 0.273% of TSO;
10. Washmax Corp. [NEX: WMX.H], closed at 23 cents for a gain of 5.5 cents - 0.273% of TSO [slightly less than #9s, but equalized due to rounding off].

NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page

NEX Report for November 1, 2007

On Thursday, the Barrel's Bottom Composite Index for the NEX closed at 90.12, up 0.73 points or 0.817% from its previous close of 89.39. Unlike on Wednesday, there was only one mover in the first minute of trading to change the BBCI from its previous closing value. SMC Ventures Inc. [NEX: SMV.H] opened down 0.5 cents/share from its previous closing price on its first trade of the day; the other NEX stocks that traded in the first minute either traded in odd lots or opened unchanged. Thus, the index barely moved in the first minute of trading, from 89.39 to 89.38.

This quiescence didn't last long. After an abortive attempt to rise that was mostly neutralized in the next minute, the BBCI jumped above 89.5 thanks to a 1.5 cent/share interday rise in Golden Hat Resources Inc. [NEX: GHA.H]. Golden Hat was quite active in the first half-hour of trading: by 10 AM ET, it had traded 500,000 shares, more than three-quarters of its daily volume of 665,000 shares. By 9:39 AM ET, the BBCI was just below 89.6, thanks to a 0.5 cent/share opening rise in Toba Industries Ltd. [NEX: TBG.H] in the previous minute's period and a 1 cent/share interday gain in Trilogy Metals Inc. [NEX: TRI.H]. A further 0.5 cent/share interday rise in GHA.H put the index well above 89.6 as of 9:48 AM ET.

The BBCI than took somewhat of a dive, to below 89.4 as of 10:15 AM ET. It had recovered to above 89.5 by 10:20 AM ET, thanks to a 6.5 cent/share opening rise in Becker Gold Mines Ltd. [NEX: BGD.H], and was above 89.6 by 10:38 AM ET. A further 3.5 cent/share interday rise in Becker put the BBCI above 89.7 as of 10:46 AM ET. 89.8 was briefly broken through as of 11:10 AM ET, but this rise lasted only for seven minutes. A more durable rise above that level had to wait until 11:44 AM ET, as prompted by a 1 cent/share interday gain in the price of Rocher Deboule Minerals Corp. [NEX: RD.H]. A slight backtrack was followed by a jump above 89.9 at 11:54 AM ET, which was partially erased a minute later, and another one at about 11:57 AM ET. This latter jump, prompted by a 3 cent/share interday rise in The Silver Recycling Company Inc. [NEX: TSR.H] lasted for 13 minutes. The BBCI didn't durably rise above 89.9 until 12:32 PM ET.

After spending more than an hour and fifty minutes trending between 89.9 and 89.99, the BBCI made a successful run at the 90 level at 2:26 PM ET. It was put at 90.05 by a 5 cent/share interday rise in Becker Gold Mines, which put the stock itself at a 14.5 cent/share gain for the day and equal to its closing value. [As reported in Tuesday's news releases section, Jeffrey Becker resigned from the presidency of the company and was replaced by Gary Freeman ] After hovering just above 90, the index jumped above 90.1 as of 3:36 PM ET. Put there by another 1 cent/share rise in Rocher, the BBCI didn't change at all for the rest of the day, making that level the closing value of 90.12. Unusually, the first minute's value was equal to the day's low, and the closing value was equal to the day's high.


Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:

• 10 AM ET: 89.59
• 11 AM ET: 89.71
• 12 PM ET: 89.95
• 1 PM ET: 89.93
• 2 PM ET: 89.96
• 3 PM ET: 90.03
• 4 PM ET/Close: 90.12

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during November 1st and the third part covers NEX stocks of note for that day.


[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]


NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page

News Releases From NEX Companies For November 1st

There was one news release from a NEX company that was picked up by Marketwire on Thursday, from Silvio Ventures Inc. [NEX: SIV.H] The news release announces the appointment of Doris Meyer as a new director and new CFO of the company. Also, a controllership has been established and James Mackie will be filling it. Current chairman and CEO of Silvio, William Radvak, will remains as chairman and CEO but will step down as CFO. In addition, 250,000 in stock options have been granted, with strike price of 55 cents/share and life of five years. This issuance is subject to regulatory approval. SIV.H closed on Thursday at 56 cents/share, up 1 cent/share on the day.

Four bulletins from NEX companies were at the bottom of Thursday's TSX Venture Daily Bulletins. The first pertains to a trading halt in Avigo Resources Corp. [NEX: TMX.H], issued at 6:02 AM PT or 9:02 AM ET, and the second says that Avigo will remain halted. The company issued a news release during the halt period on Thursday, as described below. Canjex Publishing has webbed copies of both the halt and the continuance of it. TMX.H last closed on Wednesday at 60 cents/share.

The third has details on a private placement by Citadel Gold Mines Inc. [NEX: CGM.H], of 1,454,545 flow-through shares issued at a deemed price of 11 cents/share and 4,250,000 non-flow-through shares at a deemed price of 8 cents/share. There was only one placee for them, insider Dr. Bernard Sherman. Total gross proceeds were about $500,000 - to be exact, $499,999.95. Canjex has webbed a copy of the bulletin here. CGM.H last closed on October 26th, at 12.5 cents/share.

The fourth and final bulletin is a short one, which pertains to The Endurance Fund Corporation Inc. [NEX: END.H]. Its full text reads, "TSX Venture Exchange has accepted for filing the Company's CPC [Capital Pool Company, or "official" shell] Filing Statement dated October 31, 2007, for the purpose of filing on SEDAR." Canjex has a webbed copy here. END.H is currently suspended; it last closed at $1.22/share in May of 2005.

There were four news releases that were sent out exclusively through Canjex on Thursday. The first came from the above-mentioned Avigo, and announces a reverse takeover of/by Carbon Friendly Solutions Inc. (CFS,) "a private environmental company focused on global carbon emission reduction solutions." It currently conducts forestation projects in Poland through a wholly-owned subsidiary; in so doing, CFS generates vendible carbon-tax credits. It currently had gotten 32,809 credits from two reforestation projects in northern Poland, and plans to undertake two more now that leases have been secured for new land on which to tree-plant. "CFS intends to complete the two other afforestation projects in April, 2008, giving CFS approximately 65,000 additional credits during the project cycle period designated for sale in the Kyoto market and post-Kyoto-compliant market." Avigo plans: to issue 8 million common shares at a deemed price of 50 cents/share in exchange for all the shares of CFS; to change its name to Carbon Friendly Solutions Inc.; to bring the three controlling shareholders of CFS onto the board and two of them into top managment; and, to apply for a listing on Tier 2 of the Venture Exchange. An annual meeting will be convened on December 17 to secure shareholder approval of this reverse takeover. TMX.H last closed on Wednesday, at 60 cents/share.

The second release comes from Raptor Capital Corp. [NEX: RCP.H], and it announces a settlement of $395,000 worth of debt owed by Raptor (including accrued interest) in a share swap at a deemed price of 15 cents/share provided that a 20-for-1 consolidation is effected first. The rest of the release notes that Raptor has raised $140,000 by issuing promissory notes whose conversion feature has an exercise price equal to 70% of the above debtholders' settlement price. The consolidation requires regulatory and shareholder approval. RCP.H is currently suspended; it last closed on May 7th at 2 cents/share.

The third release comes from Treat Systems [TSZ.H], and it announces a $8.5 million financing in the form of subscription receipts, as brokered by PI Financial, in the form of 8.5 million subscription receipts at a deemed price of $1.00/receipt. "Each subscription receipt is exercisable for no additional consideration into one unit of Treat upon the satisfaction of certain of Treat release conditions being met. Each unit will comprise one common share and one-half of a warrant. Each whole warrant will be exercisable for one common share of Treat at an exercise price of $1.50 over a two-year term, from the closing date. Gross proceeds are being held in escrow pending satisfaction of the release conditions." The flow-through part, in the amount of $3,025,000, is expected to close concurrently with a transaction that is expected to be a Qualifying one for the purposes of moving to the Tier 2. It also will serve as a change-of-business transaction, to mining under the name Mega Silver Inc. The compensation for PI includes a series of 600,800 broker warrants that will be rendered null and void if Treat does not have access to the funds by December 18th. TSZ.H is currently halted; it last closed at $1.20/share on March 8th.

The fourth and final release disseminated through Canjex comes from International Alliance Resources Inc. [NEX: ALL.H]. It announces Alliance's plans to seek shareholder approval for changing its name and consolidating its shares on a 1-for-5 basis at its upcoming shareholders' meeting. Both of these changes are subject to TSX Venture approval. ALL.H last traded on Wednesday, and closed at 17.5 cent/share on that day.

In addition to the above items, there were also SEDAR-filed financial statements announced on Wednesday, and summarized in this blog for Thursday's report:

• International Alliance has filed its audited annual financial statements for FY 2007.
• Military Internatioal Ltd. has filed its audited annual financial statements for FY 2007 with accompanying M D & A.

To read about the highlighted NEX stocks for Thursday, you can go here.

Military International Ltd. Files Audited Annual Report With SEDAR

Military International Ltd. [NEX: MI.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th. The financials [PDF file] got an unqualified opinion from the auditors.

There was no cash on the balance sheet for either fiscal year '07 or FY '06. Current assets went from nil in FY '06 to $775 in FY '07. Current liabilities more than doubled, from $144,152 to $324,703; consequently, the working capital deficit went from $144,152 to $323,928. Book value shrunk from -2.16 cents/share to -4.87 cents/share. The $50,835 used in operating activities was covered in full by an increase in the amount due to directors, put in the cash flow statement as a financing activity - the only one. Expenses ballooned from $5,092 in FY '06 to $179,776 in FY '07, pushing the loss per share up from 0.0762 cents to 2.69 cents. Military International has $1,801,664 of tax-loss carry-forwards, $757,422 of which expire in 2008. Note 4 explains that the advances from directors are accrued as loans payable; they have no fixed term of repayment and bear no interest. The $50,835 advance was net of $55,835, shrunk by a $5,000 payment from the company to its directors. The accompanying M D & A [PDF file] explains that the increase in expenses are due to re-activation and an attempt to get listed on the Tier 2 of the Venture Exchange. It also explains that a cease-trade order has been issued against it for failure to file financial statements, which has not been rescinded as of yet even though the financials are up to date as of now. MI.H remains suspended.

International Alliance Resources Inc. Files Audited Annual Financial Statements With SEDAR

International Alliance Resources Inc. [NEX: ALL.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th. The financials [PDF file] got an unqualified opinion from the auditors.

There was no cash listed on the balance sheet for either FY 2007 or FY 2006. Current assets totaled $38,682 in FY '07, up from $29,392 in FY '06. Current liabilities, almost all of which were accounts payable and accrued expenses, went from $1,713,847 in FY '06 to $1,965,967. As a result, the working capital deficit increased from $1,684,455 to $1,918,822. Book value increased from -36.1 cents/share to -8.31 cents/share because of an increase in the weighted average of common shares from 4,566,319 to 22,613,258. This increase was due to a private placement of 18,299,999 shares for net proceeds of $1,145,396 ($1,170,000 gross) near the beginning of FY '07. The book value in dollar terms decreased from -$1,646,612 to -$1,879,675.

Expenses in FY '07 were $223,492, $39,954 less than FY '06's $263,446. $21,439 of that shrinkage was attributed to no stock-based compensation in FY '07, as compared with the same $21,439 in FY '06. The other main cause of the shrinking was a $15,800 decrease in interest and bank charges, to $75,061. A $9,571 write-down of a resource property increased the net loss for FY '07 to $233,063, as compared with that same $263,446 in FY '06. The increase in the number of issued shares was the main reason for the per-share loss shrinking from 5.77 cents/share to 0.986 cents/share. Because there was a $250,505 increase in accounts payable, operating activities actually provided $18,033 in cash during FY '07, as compared with the use of $1,132,063 in FY '06. Because investing activities consumed $19,648 in FY '07, as compared with $15,225 in FY '06, cash went down by $1,615 in the former period to a deficit (overdraft) of $2,109. As specified in Note 3 of the financials, Alliance owns claims in the Yukon Territory, the Hess River Project. Almost all of the money used for investment activities was spent on these claims, for acquisition of more of them ($15,225) and exploration on them ($3,648.) As might be expected, Note 8 discloses that accounts payable includes $241,740 owed to directors or companies controlled by them at the end of FY '07, as compared with $206,345 at the end of FY '06.

Note 10 specifies two option agreements entered into, for a 70% interest in the Parallax Claims and a 51% interest in the Shaver Lake Property. Each of the two are being pursued as potential qualifying transactions for listing on Tier 2 of the Venture Exchange. Alliance intends to pursue a $2,422,000 non-brokered private placement to meet the expenses of their commitments to explore the former property.

Highlighted NEX Stocks For November 1st

Thirty-three NEX stocks traded on Thursday. Of these, 13 advanced, 7 declined and 13 remained unchanged. There were 156 trades. The top trader in terms of raw volume was Golden Hat Resources Inc. [NEX: GHA.H], with 665,000 shares traded. This volume was almost four times the volume of the runner-up, Trilogy Metals Inc. [NEX: TRI.H]. According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Thursday was Trilogy, once again. Both Golden Hat and Trilogy traded more than ten times on Thursday, so their daily action is described below. Golden Hat placed first on the top ten daily-turnover list, found below; Trilogy placed third.

Three NEX stocks traded more than ten times on Thursday. The most numerous trader in terms of number of trades was the same as the raw-volume leader, Golden Hat; it traded 25 times. GHA.H leapt right out of the gate on Thursday, even though none of its trades were made within the first minute of trading. Despite the lack of a pre-open build-up, the first half-hour saw seventeen of its trades, comprising 500,000 shares' worth of volume, made. All of those trades, except for one, had five-figure volumes. As might be expected, there seemed to be at least six multi-trade blocks in the record, as they were clustered in terms of time and buy-side financial institution; the first five clusters were 100,000 shares each in totaled volume: a 100,000-share block composed of the first five trades, bought through Canaccord; another 100,000-share block composed of the sixth and seventh trades that was also bought through Canaccord; a 100,000-share block composed of trades eight through ten, bought through an anonymous financial institution; another 100,000-share block composed of trades eleven through fourteen, bought through Canaccord; and, yet another 100,000 share block, composed of trades fifteen though seventeen, that was bought through an anonymous financial institution. Later in the morning and early afternoon, 110,000 shares were bought through National Bank, as comprised of the nineteenth through the twenty-third trades. This last cluster on the buy side may not have been a single block because the last trade went two hours after the first. The last two of those five, though, went at the same time, suggesting a 50,000-share bought block. It's possible that the first three of those five were another 60,000 share block that took some time to execute. There were several presumed sell-side blocks, but they were composed of two trades and most of those doubles were of relatively little volume, except for one two-trade presumed block that was sold through E-Trade that totaled 100,000 shares.

The price action was consistent with a lot of buying pressure being visited upon Golden Hat. The first two trades went at Wednesday's closing price of 8.5 cents/share, which was the low of the day. By the third trade, the price was 9 cents/share; after a one-trade return to 8.5 cents/share, the sixth trade went at 9 cents/share. The seventh made the price 10 cents/share, where it stayed for the next seven trades. Three tests of the above-10-cent/share level were made in the next four trades, but 10 cents/share turned out to be the day's resistance level. The last eight trades were below 10 cents/share: except for the third- and second-last trade, they were at 9 cents/share, leaving Golden hat up 0.5 cents/share on the day. 58,000 shares, or $4,930 worth, traded at 8.5 cents/share; 235,000 shares, or $21,150 worth, traded at the closing price of 9 cents/share; 50,000 shares, or $4,750 worth, traded at 9.5 cents/share; 269,000 shares, or $26,900 worth, traded at 10 cents/share; and, 53,000 shares, or $5,565 worth, traded at 10.5 cents/share.

The second most numerous trader was Trilogy, with 16 trades on Thursday. The stock got off to a bullish start: the first three trades were above Wednesday's close of 90 cents/share - specifically, they went at 91, 92 and 92 cents/share respectively. All three of them, whose volumes totaled 10,000 shares, were bought through Union Securities. The next two trades saw a fallback in the price, and those included the largest-volume trade of the day. Both of these trades, of 10,000 shares at 90 cents/share and 125,000 shares at 88 cents/share, were sold through Blackmount; they both went at the same time of about 10:02 AM ET. This dump, though, failed to hold down the price. The next two trades went at 90 cents/share; the one after that, the eighth, went at 91 cents/share. The ninth and tenth went at 92 cents/share, equalling the day's high. Trades eight through ten, totaling 10,000 shares, had Blackmont as the buy-side financial institution. The last six trades, though, pushed the price back down. One of them, the second-last, was an odd-lot'er of 100 shares that went at 87 cents/share. The others went at 90 cents/share, Trilogy's closing price. The last five of the day were sold through Northern Securities, although only the first three of those, comprising 5,000 shares, seemed to be a single block. As noted just above, Trilogy closed at 90 cents/share, unchanged on the day, with daily volume of 169,100 shares.

The third most numerous trader on Thursday was a regular that hasn't been in this category for some time. Silvio Ventures Inc. [NEX: SIV.H] traded 13 times, and all except one were odd-lot-sized. As is usual for SIV.H, the price of the odd-lot'ers were significantly below the price of the board-lot'er: the first ten trades went at 51 cents/share. After the one board-lot-sized trade of 500 shares went at 56 cents/share, the next two odd-lot'ers went at 53 cents/share. Since only board-lot-sized trades are counted in the closes and changes, that eleventh trade set the closing price, and the gain of 1 cent/share. Silvio's daily volume was 2,260 shares.

The top percentage gainer in Thursday's trading was International CHS Resource Corporation [NEX: ICJ.H], which closed at 9 cents/share for a gain of 5.5 cents/share, or 157%, on the day. International CHS was the volume leader on Wednesday, and was third in terms of raw volume on Thursday. Eight trades in ICJ.H were made, with the first two, of 60,000 and 38,000 shares, going at the same time, 22 seconds after market's open. Both of them were made at 3.5 cents/share, and both were sold through an anonymous financial institution. The next two trades, of 10,000 shares each, also went at the same time, of about 10:37 AM ET. Both were bought through TD Securities; the first went at 5 cents/share and the second went at 5.5 cents/share. TD Securities was the sell-side institution for the fifth and sixth trades, of 9,000 and 5,000 shares; these went at the same time too: about 12:30 PM ET. Their prices were 5.5 cents/share and 6.5 cents/share respectively. The final two trades, of 5,000 and 1,000 shares, seemed to be independent of each other. The prices on both trades were equal to the closing price of 9 cents/share, set by the latter one. Thursday's daily volume of ICH.H was 138,000 shares, 42,000 less than Wednesday's 180,000. It placed fourth on the top-ten daily-turnover list, found just below.

The top percentage decliner for Thursday was New Meridian Mining Corp. [NEX: NWC.H], which closed at 30 cents/share for a decline of 7.5 cents/share or 20%. There were only three trades in NWC.H on Thursday, and two of them were odd-lot'ers. The board-lot'er, which set the closing price, was only one board lot in size. Total daily volume for New Meridian was 699 shares.

Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):

1. Golden Hat Resources Inc. [NEX: GHA.H], closed at 9 cents for a gain of 0.5 cents - 1.93% of total shares outstanding;
2. Rose Marie Resources Ltd. [NEX: RSR.H], closed at 9 cents for a loss of 1.5 cents - 1.92% of TSO;
3. Trilogy Metals Inc. [NEX: TRI.H], closed at 90 cents unchanged - 1.14% of TSO;
4. International CHS Resource Corporation [NEX: ICJ.H], closed at 9 cents for a gain of 5.5 cents - 0.935% of TSO;
5. Becker Gold Mines Ltd. [NEX: BGD.H], closed at 30 cents for a gain of 14.5 cents - 0.726% of TSO;
6. Electrohome Limited class 'Y' non-voting [NEX: ELL.K], closed at 15 cents unchanged - 0.683% of TSO;
7. Cobre Exploration Corp. [NEX: CXV.H], closed at 12.5 cents for a loss of 2 cents - 0.549% of TSO;
8. Datinvest International Ltd. [NEX: DAI.H], closed at 19 cents for a gain of 1 cent - 0.481% of TSO;
9. ITI World Investment Group Inc. class 'A' [NEX: IWI.H], closed at 40 cents for a loss of 1 cent - 0.358% of TSO;
10. Gold Star Resources Corp. [NEX: GXX.H], closed at 17 cents for a loss of 2 cents - 0.261% of TSO.

NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page

NEX Report for October 31, 2007

On Wednesday, the Barrel's Bottom Composite Index for the NEX closed at 89.39, down 0.43 points or 0.479% from its previous close of 89.82. The addition of one new trader, Stone Mountain Holdings Inc. [NEX: SMO.H], influenced the BBC Index right from the get-go: its first trade on the NEX was right at market's open, putting SMO.H down 0.5 cents/share from its previous close on the Venture. Other stocks that moved the index in the first minute of trading were: Arcland Resources Inc. [NEX: ADR.H], up 1.5 cents/share from its previous close within three seconds of market's open; Global Tree Technologies Inc. [NEX: GTT.H], which dropped 0.5 cents/share from its previous close; HLD Land Development Limited Partnership [NEX: HLD.UN.H], which opened up 1 cent/share above its previous close; Isee3d Ic. [NEX: ICT.H], which opened down 1 cent/share; and, ITI World Investment Group Class 'A' [NEX: IWI.H], which dropped from an opening gain of 3.5 cents/share to a loss of 0.5 cents/share within that first minute. These six NEX stocks, an unusually large number of movers during the first minute, didn't have that much influence on the BBCI: their combined weight put the index down less than one-tenths of a point. Despite a drop to 89.4 at 9:59 AM ET due to a 8 cent/share opening drop in Guildhall Minerals Ltd. [NEX: GDM.H], the BBCI recovered, and moved up until 11 AM ET. After a slight down-blip, the day's high of 89.89 was reached at 11:07 AM ET.

A decline started in earnest at that hour, reaching the day's low of 89.03 nine minutes after a more than 0.6-point plummet caused by a a 5 cent/share opening drop in Tapango Resources Ltd. [NEX: TPA.H] at about 11:47 AM ET. From that plummet, the BBCI slowly recovered, with intermittent drops, until 2:04 PM ET, when it reached almost 89.8.

The index started declining again as of 2:13 PM ET, due to a further 2 cent/share decline in Tapango. 89.5 was fallen through by 2:36 PM ET, and the BBCI was below 88.4 by 2:45 PM ET. A recovery to above that level lasted only until 3:17 PM, when the index fell briefly below 89.3 before recovering to 89.38. The index then spent the next forty-two minutes churning around 89.4, about the same level as the BBCI's closing value of 89.39.

Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:

• 10 AM ET: 89.52
• 11 AM ET: 89.87
• 12 PM ET: 89.26
• 1 PM ET: 89.43
• 2 PM ET: 89.71
• 3 PM ET: 89.45
• 4 PM ET/Close: 89.39

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 31st and the third part covers NEX stocks of note for that day.


[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]


NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page

News Releases From NEX Companies For October 31st

There was one news release from a NEX company that was picked up by Marketwire on Wednesday. It was from Wavefire.com Inc. [NEX: WAF.H], and it announces an advance of about $172,000 to Wavefire.com from a director. "The loan has no fixed terms of repayment and the director will be reimbursed for costs incurred in making the advance. The amount represents the prospect fee (plus GST) payable by [WAF.H] under its farm-in agreement announced on October 16, 2007." This advance is subject to certain approvals. WAF.H closed on Wednesday at 22 cents/share, up 5 cents/share from Tuesday's close.

One bulletin from a NEX company was in Wednesday's TSX Venture Daily Bulletins. International Silver Ridge Resources Inc. [NEX: ISG.H] is coming out of suspension, and will resume trading as of Thursday's opening.

Three news releases were sent out exclusively through Canjex Publishing on Wednesday. The first pertains to Pinewood Resources Ltd. [NEX: PNW.H], which is currently under suspension: it's an excerpt from a news story in the Vancouver Sun about Terry Alexander. The B.C Securities Commission has ruled that Mr. Alexander has violated an earlier BCSC suspension on him that "prohibited him from acting as an officer or director, or engaging in investor relations, for any B.C. company, private or public, for 20 years." He nevertheless is "involved" as a director (and possibly as an officer) with Pinewood. The finding of the BCSC are reported on here. PNW.H last traded near the end of 2004, closing at 18 cents/share.

The second release comes from Tri-River Ventures Inc. [NEX: TVR.H]. It announces the closing of a private placement of 400,000 units, at a price of 22.5 cents per unit for total gross proceeds of $90,000. Each unit contains one common share and a purchase warrant for a common share with exercise price of 45 cents/share and life of one year. TVR.H closed at 45 cents/share on Wednesday, up 15 cents/share from its previous close. This close made for a new 52-week high.

The third and final release from Canjex is about Noise Media [NEX: NMA.H] and it follows on the heels of Tuesday's revocation of a cease-trade order against Noise by the Alberta Securities Commission. It announces that the Venture has conditionally de-suspended the company in conjuction with a conditional approval for Noise to move to Tier 2 of the Venture exchange as a mining issuer, due to its acquisition of "a 100-per-cent interest in 14 mineral claims located in the Valle-de-l'Or county municipality, Courville township, Quebec, subject to a 1.5-per-cent net smelter return" in exchange for 1 million shares of Noise. The company also plans to consolidate its shares on a 1-to-4 basis, to change its name to GFK Resources Inc. and to complete two different private placements. Not specified in the news release is whether or not the 1 million shares issued for the claims was pre- or post-consolidation. The first placement has a deemed price of 8 cents/share, with gross proceeds of $100,000, and the second one has a deemed price of 18 cents/unit (containing one share and a purchase warrant with unspecified terms) and is expected to raise $550,000. The proceeds from both will "be used to carry out the recommended work program on the property and for estimated general operating expenses and administration expenses of the company for the ensuing 12 months." Whether these placements will occur pre- or post consolidation isn't specified either, but it seems reasonable to assume that the first was pre- and the second was post-. NMA.H last traded in early 2003, and closed at 4 cents/share back then.


In addition to the above items, there were also SEDAR-filed financial statements announced on Wednesday:

• The Silver Recycling Company Inc. has filed its audited annual financial statements for FY 2007 with accompanying M D & A.

[Note: There were two other NEX companies that filed reports through SEDAR on Wednesday, but due to time constraints their summarization on this blog will be postponed until Thursday's report.]

To read about the highlighted NEX stocks for Wednesday, you can go here.

The Silver Recycling Company Inc. Files Audited Annual Report With SEDAR

The Silver Recycling Company Inc. [NEX: TSR.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th, along with the accompanying Management Discussion and Analysis. The financials [PDF file] got an unqualified opinion from the auditors.

Cash decreased from $226,599 as of the end of FY 2006, or June 30/06, to $31,881 as of the end of FY '07. Current assets decreased from $226,599 to $49,231 in the same time period, while current liabilities increased from $93,201 to $208,782. As a result, working capital shrunk from a $133,398 surplus to a $159,551 deficit from FY '06 to FY '07. Book value also went from positive to negative - specifically, from $65,901, or 1.47 cents/share, to -$199,835, or -2.12 cents/share. The cash drain would have been more severe had the company not secured $221,191 of proceeds for the issuance of 1,991,666 shares upon the exercise of warrants from a private placement completed on April 19th, 2006.

Silver Recycling lost $504,334 before other items in FY '07. Since it was an active company in fiscal '06, the results for the two time periods are not comparable: the only income earned by the company in the former period was $21 in interest and other income. There was also a $2,500 loss due to the forgiveness of debt, so the net loss for FY '07 was $511,823 or 5.43 cents/share. According to note 9 of the financials, the company has $5,716,000 worth of non-capital tax-loss carry-forwards. $126,000 of them expire in 2008, and $4,233,000 of them expire in 2009.

The accompanying M D & A [PDF file] opens with a recount of a takeover-in-progress of an unnamed U.S.-based silver scrap company. A non-binding letter of intent was entered into on June 11 of this year, which will expire on November 15th due to a negotiated extension of its life. Later, the M D & A says, "Management is in discussion with two to three other potential acquisition targets" and that an increase in professional fees paid out are the result of due diligence associated with the letter of intent. Also from it: "The success of the Company is dependant upon the continuing support of its current creditors and its ability to continue to raise financing to fund operations and ultimately upon its ability to achieve profitable operations." TSR.H last traded on Tuesday, and closed at 37 cents/share on that day.

Highlighted NEX Stocks For October 31st

Forty-two NEX stocks traded on Wednesday. Of these, 20 advanced, 12 declined and 10 remained unchanged. There were 184 trades. The top trader in terms of raw volume was International CHS Resource Corporation [NEX: ICJ.H], with 180,000 shares traded. Unusually, all four of ICJ.H's trades came at exactly the same time, at about 1:57 PM ET. They also had the same sell-side financial institution, Union Securities. So, and this is rather rare for a NEX stock in this slot, the top trader in terms of raw volume made the spot on only a single (presumed) sold block. There were no other trades in CHS on Wednesday. The third trade, of 98,000 shares, went at 3 cents/share; the others went at 3.5 cents/share. Since those others included the last one, ICJ.H closed at 3.5 cents/share, down 0.5 cents/share on the day.

According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Wednesday was the runner-up in terms of raw volume, Trilogy Metals Inc. [NEX: TRI.H], Trilogy traded more than ten times on Wednesday, so its daily action is described below. International CHS placed first on the top ten daily-turnover list, found below; Trilogy placed second. Wednesday was one of the few days when the ranking of the top two traders in terms of raw volume and daily turnover of free-trading shares was the same.

Two NEX stocks traded more than ten times on Wednesday. The most numerous trader in terms of number of trades, as it has been two days previous, was Trilogy Metals Inc. [NEX: TRI.H]. The number of trades in Trilogy was two more than it was on Tuesday: 35. It opened at 87 cents/share, and stayed there for two trades. Not counting an odd-lot-sized trade, the next eleven went at 88 cents/share. After a test of the 90 cent level that comprised four trades, one at 89 cents/share and the other three at 90 cents/share, Trilogy returned to 88 cents/share, where it stayed (except for another odd-lot'er) for the next eight trades. The twenty-eigth trade saw Trilogy's price return to 90 cents/share, where it stayed for the next five trades. After one at 91 cents/share, Trilogy's price returned to 90 cents/share for two more trades, where it closed for a gain of 3 cents/share from Tuesday's close. 500 shares, or $425 worth, went at 85 cents/share; 5000 shares, or $4,350 worth, went at 87 cents/share; 108,000 shares, or $95,040 worth, went at 88 cents/share; 5000 shares, or $4,450 worth, went at 89 cents/share; 29,000 shares, or $26,100 worth, went at 90 cents/share; and, 500 shares, or $455 worth, went at 91 cents/share. Total daily volume was 148,000 shares. As was the case on Tuesday and Monday, any multi-trade blocks in Trilogy's trade record on Wednesday were not that big relative to the size of the individual trades.

The second most numerous trader was Rocher Deboule, with 19 trades on Wednesday. The first trade in Rocher was at the same price as Tuesday's close, 50 cents/share. The next seven were at 52 cents/share. Interestingly, the second through fourth trades seemed to be composed of a 10,000 share sold block, with TD Securities being the sell-side financial institution. The last three of those seven, or the sixth through eighth trades, seemed to be a bought block of 20,000 shares that had Canaccord as the buy-side financial institution. The ninth trade, of 20,000 shares as of about 11:07 AM ET, went at 53 cents/share: the five subsequent, of 1,000, 5,000, 1,500, 2,000 and 500 shares, went at 51, 50, 50, 49 and 48.5 cents/share respectively: all of them were sold through the same financial institution that was on the sell side of the 53 cent'er: Canaccord. Seemingly, those six trades were part of a sold block of 30,000 shares, one which depressed the price of RD.H temporarily. After those trades went through, the price went back up above 50 cents/share: the last five trades of the day were all at the closing price of 51 cents/share. This close put Rocher up 1 cent/share from Tuesday's close, on daily volume of 80,000 shares.

The top percentage gainer in Wednesday's trading was Landmark Global Financial Corporation [NEX: LST.H], which closed at 5 cents/share for a gain of 2.5 cents/share, or 100%, on the day. One board lot of 3,000 shares put the price at this close; the other trade in LST.H was an odd-lot'er of 8 shares, at 1 cent/share. These two, put together, total to Landmark's daily volume of 3,008 shares. The closing price was a cent below the 52-week high, and 3.5 cents above the 52-week low.

The top percentage decliner for Wednesday was Specialty Foods Group Income Fund [NEX: HAM.UN.H], which closed at 1 cent/share for a decline of 1 cent/share or 50%. There were five trades in HAM.UN.H on Wednesday; all but the last were at 1.5 cents/share. That last one, of 1,000 shares, established the closing price. There seemed to be two sold blocks amongst those five trades: a 40,000 share block, composing the first three trades, which went through Canaccord on the sell side, and a 2,000 share block, composing the last two trades, that went through TD Securities. The third and fourth trades seemed to compose a 10,000 share bought block that went through BMO Nesbitt. HAM.UN.H's total daily volume was 42,000 shares.

Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):

1. International CHS Resource Corporation [NEX: ICJ.H], closed at 3.5 cents for a loss of 0.5 cents - 1.22% of total shares outstanding;
2. Trilogy Metals Inc. [NEX: TRI.H], closed at 90 cents for a gain of 3 cents - 1.00% of TSO;
3. Waveform.com Inc. [NEX: WAF.H], closed at 22 cents for a gain of 5 cents - 0.429% of TSO;
4. Focus Ventures Ltd. [NEX: FCV.H], closed at 36 cents for a gain of 0.5 cents - 0.396% of TSO;
5. Lomiko Resources Inc. [NEX: LMR.H], closed at 38 cents for a gain of 1 cent - 0.260% of TSO;
6. Rocher Deboule Minerals Corp. [NEX: RD.H], closed at 51 cents for a gain of 1 cent - 0.252% of TSO;
7. Avigo Resources Corp. [NEX: TMX.H], closed at 60 cents unchanged - 0.233% of TSO;
8. ITI World Investment Group Inc. class 'A' [NEX: IWI.H], closed at 41 cents for a gain of 0.5 cents - 0.227% of TSO;
9. Specialty Foods Group Income Fund [NEX: HAM.UN.H], closed at 1 cent for a loss of 1 cent - 0.209% of TSO;
10. Datinvest International Ltd. [NEX: DAI.H], closed at 18 cents for a loss of 2 cents - 0.202% of TSO.

NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page

NEX Report for October 30, 2007

On Tuesday, the Barrel's Bottom Composite Index for the NEX closed at 89.88, down 0.16 points or 0.178% from its previous close of 90.04. Despite that drop, the BBCI was up for most of the day. This uptrend started right at the first minute of trading, despite a 4 cent/share opening drop in IDG Holdings Inc. [NEX: IDH.H], because of a 2 cent/share opening gain in Monster Uranium Inc. [NEX: MU.H], a 1 cent/share opening gain in the price of Rocher Deboule Minerals Corp. [NEX: RD.H] and a 1 cent/share rise in the price of yesterday's dominant stock, Trilogy Metals Inc. [NEX: TRI.H]. The combination of these four movers put the BBCI up by about 0.08 points in the first minute of trading.

The index bounced around the 9:31 AM ET value for the next six minutes before 9:37 AM ET, when a further 1 cent/share rise in Rocher's price put the index well above 90.15. Trilogy's rise to 86 cents/share put the BBCI above 90.2, but it was a 0.5 cent/share interday rise in the price of Biomerge Industries Ltd. [NEX: BIL.H] that provided the big boost to the index as of about 9:49 AM ET. The BBCI reached 90.56 at that time. Except for a brief up-blip to almost 90.7 that lasted one minute and which established the high of the day, the BBCI stayed at that level until 10.49 AM ET, and about at that level until 11:19 AM ET. A later rise in Rocher put the index well above 90.5 at that time; the index stayed between 90.5 and 90.6 until 12:45 PM ET.

It was at this time that the uptrend ended. The next twenty-five minutes saw a quick decline that ended up at just above 90 by 1:10 PM ET. The stock that put the BBCI there at that time was Moneta Resources [NEX: MOT.H], whose two trades during the day, both made at exactly the same time, dropped its price by 5.5 cents/share. The decline continued apace until the day's low of 89.69 was reached at 1:43 PM ET. The BBCI stayed at this level until 2:03 PM ET.

The rest of the day saw a jagged recovery. 89.8 was reached as of 2:24 PM ET. After a short dawdle, the index moved above 89.84 as of 2:39 PM ET. This secondary recovery didn't last, though; it began caving as of two minutes before the last hour of trading started. A leap-up to above 89.94, as of 3:17 PM ET, lasted only eleven minutes before it vanished. The BBCI spent the last thirty-one minutes of trading on a downward drift, which ended with it reaching its closing value of 89.88


Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:

• 10 AM ET: 90.56
• 11 AM ET: 90.51
• 12 PM ET: 90.67
• 1 PM ET: 90.37
• 2 PM ET: 89.75
• 3 PM ET: 89.89
• 4 PM ET/Close: 89.88

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 30th and the third part covers NEX stocks of note for that day.


[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]


NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page

News Releases From NEX Companies For October 30th

There was one news release from a NEX company that was picked up by Marketwire on Tuesday, and it was an unusual one. E.G. Capital Inc. [NEX: EGC.H] released a summary of its quarterly results, as distilled from E.G.'s quarterly interim unaudited financial statements [PDF file] and its accompanying M D & A [another PDF file.] E.G. managed to announce a second-quarter profit, of $24,416 or 0.128 cents/share. These earnings resulted from $52,571 in revenue which resulted from the recovery of previously-written-off joint venture income. Since selling, general and administrative expenses amounted to $27,846 during that same quarter, E.G had earnings, as compared with a $2,783 loss before any extraordinary items, of which there were none in the quarter ending on August 31, 2006. The news release itself contains further details on E.G.'s. performance, both for the 2nd quarter and for the first half.

There were no bulletins from any present NEX company in Tuesday's TSX Venture Daily Bulletins, but there was one from a Tier 2 company that is joining the NEX board. Stone Mountain Holdings Inc. [VSE: SMO; as of the beginning of trading on October 31st, NEX: SMO.H] no longer qualifies to be a Tier 2 company, so it's joining the NEX. Other than that, nothing about Stone Mountain is changing. Canjex Publishing has webbed a copy of the Stone Mountain bulletin.

Three news releases were sent out exclusively through Canjex on Tuesday. The first came from Becker Gold Mines Ltd. [NEX: BGD.H], and it announces a future private placement of up to 4 million units at 12 cents/unit for total gross proceeds of up to $480,000. The units will contain one common share and a purchase warrant, with life of two years and strike price of 16 cents/share. "Company management expects that the net proceeds of the offering will be used to satisfy the company's outstanding payables, facilitate the company in identifying a suitable transaction that will enable the company to meet the minimum listing requirements of the TSX Venture Exchange and for general working capital." The rest of the news release announces that Jeffrey Becker will be resigning from his spot as president and director of Becker Gold; he will be replaced as president by Gary Freeman. BGD.H last traded on October 26th, and closed at 15.5 cents/share. That close was 0.5 cents/share above the sparsely-traded Becker's 52-week low.

The second release came from Noise Media Inc. [NEX: NMA.H]. It announces that a cease-trade order from the Alberta Securities Commission against Noise has been rescinded. NMA.H last traded in ealy 2003; its last close was at 4 cents/share.

The third release came from Millstreet Industries Inc. [NEX: MLI.H]. This release announces the unaudited interim results for the third quarter of this year, ended on August 31st, but focuses on the first nine months of FY 2007 instead of just the third quarter.. Like the E.G Capital release above, it distills the results from the also-released interim financials [PDF file] and accompanying M D & A [PDF file]. According to the news release, Millstreet earned $480,000 for the first nine months of FY '07. These earnings are the result of an unusual item, according to the financials: the sale of building and land for $663,000. Had it not been there, Millstreet would have had a $183,000 loss on $41,000 worth of revenue. Using the before-unusual-items comparison, though, Millstreet still shrunk its loss in the period: the loss for the first three quarters of FY '06 was $214,000 on $121,000 of revenue. In the third quarter of FY '07, there were no revenues at all, and expenses of $11,000 for a net loss of the same amount. Millstreet has approximately $55,000 in cash as of August 31st, which comprises its current assets. Since current liabilities are $2,786,000 in the same time period, Millstreet had a working-capital deficit of $2,731,000 as of August 31st.

In addition to the above items, there were also SEDAR-filed financial statements announced on Tuesday:

• Agrotech Greenhouses Inc. has filed its interim unaudited quarteries with accompanying M D & A.
• Focus Ventures Ltd. has filed its interim unaudited quarterlies with accompanying M D & A.
• Themac Resources Group Inc. has filed its audited annual financial statements for FY 2007 with accompanying M D & A.
• Radiant Resources Inc. has filed its interim unaudited quarterlies with accompanying M D & A.
• International LMM Ventures Corp. has filed its interim unaudited quarterlies with accompanying M D & A.

To read about the highlighted NEX stocks for Tuesday, you can go here.

International LMM Ventures Corp. Files Interim, Unaudited Statement With SEDAR

International LMM Ventures Corp. [NEX: LMM.H] has filed interim, unaudited financial statements for the third quarter of fiscal year 2007, ended August 31st, along with the accompanying Management Discussion and Analysis. According to the financials [PDF file], cash decreased from $2,515 as of the end of FY '06, or November 30/06, to $402. Current assets shrunk from $2,685 to $1,629: a $1,157 increase in GST receivables explains the differential. Current liabilities increased from $520,843 to $646,402 in the same time period. Consequently, the working capital deficit increased from $518,158 to $644,773. Book value decreased from -12.1 cents/share to -30.1 cents/share. (Had it not been for a 2-for-1 consolidation of shares as of July 19th, 2007, the latter figure would have been -15.0 cents/share.)

Expenses went up from $36,338, or 0.740 cents/share, in 3Q '06 to $55,525 , or 2.59 cents/share, in 3Q'07. Increases of $167 in filing fees, $4,700 in interest and bank charges, $13,699 in professional fees, and $775 in transfer agent expenses all contributed to the increase. Management fees and rent remained constant; office expense decreased by $154. Since there were no other items, the net loss for each quarter equalled the corresponding expenses; in per-share terms, the loss was 0.740 cents in 3Q '06 and 2.59 cents in 3Q '07. The cash flow statement reveals that the cash used in operations was replenished by loans. Note 4 discloses that the loan-payable outstanding is from a shareholder, is payable on demand, and bears interest at a 12% annual rate. As of the end of 3Q '07, $304,360 from this source is due, up from $250,677 as of the end of FY '06.

In relation to the loans, the accompaying M D & A [PDF file] states that "[t]he Company continues to rely on advances from related parties to continue operations and will continue operations to do so until adequate equity or debt financing is available to the Company." It also says that LMM is is no current line of business, but is looking for one. LMM.H last traded on Monday, on which it closed at 50 cents/share.

Radiant Resources Inc. Files Interim, Unaudited Statement With SEDAR

Radiant Resources Inc. [NEX: RRS.H] has filed interim, unaudited financial statements for the first quarter of FY '08, ended August 31st, along with the accompanying Management Discussion and Analysis. According to the financials [PDF file], cash as of the end of 1Q FY '08 was $352,141, down slightly from $356,749 as of the end of FY '07 on May 31st. Current assets also decreased slightly, from $357,312 as of the end of FY '07 to $353,406. Current liabilities increased from $13,033 to $20,885 due to a $7,411 increase in accounts payable & accrued liabilities and a $441 increase in the amounts due to related parties. As a result, working capital decreased from $344,279 to $332,521. Book value decreased from $344,279, or 8.50 cents/share, to $332,521, or 8.02 cents/share.

Expenses in 1Q '08 rose to $14,524 from $4,242 in 1Q '07. Had there not been a $10,070 in audit and accounting expenses, expenses would have been about the same in the two periods. Investment income decreased slightly, from $3,018 in 1Q '07 to $2,766 in 1Q '08. Consequently, the net loss increased from $1,224, or 0.0302 cents/share, to $11,758, or 0.283 cents/share. The decrease in cash was due to $5,049 used in operating activities, which was partially mitigated by the receipt of $441 in funds due to a related party.

The accompanying M D & A [PDF file] discloses that a reverse takeover of/by Alliance Pacific Resources Ltd. is in the works. Alliance Pacific is a private Ontario company that, through a joint venture, owns the right to explore and obtain exploration licenses "located in the western Altay Shan Mountain range of Xinjiang Province, adjacent to the Kazakhstan border innorthwestern China and south of Mongolia." The joint venture, of which Alliance Pacific owns 51%, already holds twelve exploration permits in that area. All that's left to complete the reverse takeover is the seeking of Radiant shareholder approval and finalization of a filing statement for the TSX Venture. The M D & A also notes that "[t]he company has sufficient liquidity to meet its current obligations" but may need additional financing for exploration activities if the reverse takeover goes through. Radiant is currently halted: it last closed on December 5, 2005, at 49.5 cents/share.

Themac Resources Group Ltd. Files Audited Annual Report With SEDAR

Themac Resources Group Ltd. [NEX: MAC.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th, along with the accompanying Management Discussion and Analysis. The financials [PDF file] got an unqualified opinion from the auditors.

Cash increased from $30,723 as of the end of FY '06 to $91,201 as of the end of FY '07. Current assets increased from $36,960 to $96,603, and current liabilities increased from $57,503 to $72,232. Consequently, the working capital deficiency of $20,543 to a surplus of $24,371. Book value also went from negative to positive during the same time period - specifically, from -20,543, or -0.538 cents/share in FY '06 to +24,371, or +0.496 cents/share in FY '07. The cash and book value both increased, due to $99,000 proceeds from 550,000 shares issued in a private placement at a deemed price of 18 cents/share and $66,666 received on exercise of 333,333 warrants at an exercise price of 20 cents/share.

Expenses for FY '07 shrunk to $156,713 from $224,714 in FY '06. Had there not been $68,970 in stock compensation, though, expenses would have increased slightly. Had loss on settlement of debt not shrunk by $28,837 to $8,462, expenses for FY '07 would have been significantly more than expenses for FY '06. Since there were no other items, expenses equalled the net loss for the year: 5.89 cents/share in FY '06 and 3.19 cents/share in FY '07. Note 4(b) indicates that the company issues shares in exchange for amounts owing on a recurrent basis.

The accompanying M D & A [PDF file] discloses that Themac has no properties. MAC.H last closed on October 19th at 23 cents/share.

Focus Ventures Ltd. Files Interim, Unaudited Statement With SEDAR

Focus Ventures Ltd. [NEX: FCV.H] has filed interim, unaudited financial statements for the third quarter of FY '07, ended August 31st, along with the accompanying Management Discussion and Analysis. According to the financials [PDF file], the cash shrunk from $105,015 as of the end of FY '06 to $51,187 as of the end of 3Q '07. Current assets shrunk from $110,092 to $57,105 during the same time period. Current liabilities shrunk slightly from $110,759 to $100,126, due to a $8,892 shrinkage in accounts payable & accrued liabilities and a $1,741 drop in amounts due to related parties. Book value shrunk for an almost negligable -$667 to -$43,021 or -0.630 cents/share.

Expenses for 3Q '07 shrunk to $13,533 from 3Q '06's $15,493. All of the expense items shrunk from 3Q '06 to 3Q '07 with the exception of regulatory and stock exchange fees which went up by $543 to $1,893. The other items comprise interest income, which shrunk from $1,131 to $623 from 3Q '06 to 3Q '07. The quarterly net loss shrank from $14,362, or 0.216 cents/share, to $12,910, or 0.189 cents/share. The shrinkage in cash was attributable to its use in operating activites, except for $2,732 in receipts from related parties and $84 in payments to related parties in 3Q '07. The same thing applies to 3Q '06, except that there was no cash gotten or used as a result of financing activities in the earlier quarter. Note 4 specifies that unpaid managment fees in the amount of $52,500 (net, cumulative) have been recorded as accrued liabilities, as compared with $30,000 (also net cumulative) at the end of 3Q '06.

The accompanying M D & A [PDF file] states that "Management expects that the Company will have sufficient working capital to meet its corporate commitments over the next 12 months, and to fund the search for a new mineral property interest for the Company. Actual funding requirements may vary from those planned due to a number of factors, including the progress of property acquisition and exploration activity. Management believes it will be able to raise equity capital as required in the long term, but recognizes the uncertainty attached thereto." In other words, Focus has enough cash and reserves to keep it afloat without the need for outside financing over the next 12 months. FCV.H last closed at 35.5 cents/share on October 16th; ever since then, only odd lots have been traded. One of 100 shares went on Tuesday, at 33.5 cents/share.

Agrotech Greenhouses Inc. Files Interim, Unaudited Statement With SEDAR

Agrotech Greenhouses Inc. [NEX: AGV.H] has filed interim, unaudited financial statements for the third quarter of FY '07, ended August 31st, along with the accompanying Management Discussion and Analysis. According to the financials [PDF file], Agrotech had $7,217 worth of cash as of August 31st, 2007, up from $5,187 as of November 30th, 2006. Current assets, though, shrunk from $53,187 to $14,965 in the same time period. Current liabilities increased, from $3,916,853 to $4,117,096, due to a $160,253 increase in accounts payable and accrued liabilities and a $40,000 increase in the amount of a demand loan. As a result, the working capital deficiency widened from $3,863,666 to $4,102,131. Book value also shrunk, from -21.9 cents/share to -26.3 cents/share.

For the third quarter of this fiscal year, Agrotech had no revenue and a loss before unusual or extraordinary items of $86,904 as compared with a $111,960 loss in the third quarter of FY '06. (These figures are not quite comparable because Agrotech had revenue coming in during 3Q '06.) A $57,000 write-off of a receivable increased the quarterly loss to $143,904, or 2.10 cents/share, as compared with 3Q '06's loss of 1.63 cents/share. There was also revenue - specifically, rental revenue - during the first quarter of FY '07 but no others, for a total of $36,000 for the first nine months of that year. Revenue in the first three quarters of FY '06 was $108,000. The loss before other items widened from $195,783 to $251,293, and the loss for the first three quarters of FY '07 widened further to $305,429 or 4.46 cents/share from 2.86 cents/share in the same period of FY '06. The statement of cash flows shows that the cash used in operating activities was $37,969, which was more than covered by an increase of $40,000 in the demand loan.

The accompanying M D & A [PDF file] explains that the write-off came from rental receipts foregone due to the renter going bankrupt. It also explains that a large part of the expenses was interest expense, in the amount of $287,293 for the first three quarters of FY '07 as compared with $195,783 in the first three quarters of FY '06. For the third quarters of FY '07 and '06 specifically, interest expense was unchanged at $51,978 for both periods. All loans are currently in default. $200,000 in loans are due to a related company controlled by a director of Agrotech. AGV.H last closed on Sept. 12th, at 2 cents/share.

Highlighted NEX Stocks For October 30th

[Correction Notice: In the original version of this report, there was a "Monday" when there should have been a "Tuesday." Apologies to anyone who was misled.]

Thirty-four NEX stocks traded on Tuesday. Of these, 7 advanced, 9 declined and 18 remained unchanged. There were 143 trades. The top trader in terms of raw volume was The Silver Recycling Company Inc. [NEX: TSR.H], with 280,000 shares traded; Biomerge Industries [NEX: BIL.H] was a close runner-up. There were only four trades in TSR.H, but one of them was a real whopper: the third trade, of 270,000 shares at 40 cents/share, which went at about 12:48 PM ET. The sell-side financial institution was an anonymous one, the same classification as the financial institution(s) for the first two trades of 3,000 and 5,000 shares. Those first two trades went at a price equal to the previous closing price, set last Thursday, of 44 cents/share. That third trade put TSR.H down 4 cents/share, while the fourth and last trade of 2,000 shares went at 37 cents/share, which put the stock down seven cents on the day. That last trade was sold through Scotia and bought through an anonymous financial institution.

According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Tuesday was Rocher Deboule Minerals Corp. [NEX: RD.H], with Silver Recycling placing a close second. Rocher Deboule traded more than ten times on Tuesday, so its daily action is described below. Silver Recycling placed first on the top ten daily-turnover list, found below, and Biomerge placed tenth; Rocher placed fifth.

Four NEX stocks traded more than ten times on Tuesday. The most numerous trader in terms of number of trades was the same as Monday's: Trilogy Metals Inc. [NEX: TRI.H]. The action was much quieter for Trilogy than it was on Monday: 33 trades of TRI.H were made on Tuesday. The price range was also much narrower than Monday's: the lowest-valued trade was made at 83 cents/share and the highest was made at 87 cents/share. Starting with the eighth trade, made at about 9:42 AM ET, the price of Trilogy settled into a range, between 85 and 87 cents/share, which implies that a temporary equilibrium value has been found for the stock. Its close of 87 cents/share, which put it up 4 cents/share on the day, was made on daily volume of 121,300 shares. 14,000 shares, or $11,620 worth, traded at 83 cents/share; 5,000 shares, or $4,200 worth, traded at 84 cents/share; 15,000 shares, or $12,750 worth, traded at 85 cents/share; 7,000 shares, or $6,020 worth, traded at 86 cents/share; 80,300 shares, or $69,861 worth, traded at 87 cents/share.

The second-most-numerous was Rocher Deboule, with 19 trades on Tuesday. After an opening trade which put the price of RD.H one cent/share above Monday's close, the price moved up relatively swiftly: by about 10:25 AM ET, it had touched 50 cents/share thanks to two presumed bought blocks, of 30,000 and 20,000 shares bought through Canaccord and TD Securities respectively, which went at about 9:37 and 10:24 AM ET respectively. Both were made up of three trades each, and each triplet went at exactly the same time. The price of Rocher's shares sunk down to 48.5 cents/share in the middle of the day's trading, but went back up to 50 cents/share four minutes after 2 PM ET. The third-last trade, of 10,000 shares made as of about 3:17 PM ET, went at a price above 50 cents/share: 52 cents/share, to be exact. The final two trades, both sold and bought through Canaccord, went at the closing price of 50 cents/share. Those two trades, which went at exactly the same time, had a combined volume of 100,000 shares. RD.H closed at that same 50 cents/share, up 4 cents/share since Monday's close, on daily volume of 232,000 shares.

The third most numerous was Biomerge Industries Ltd. [NEX: BIL.H], with 17 trades. All but the last six of them seemed to be part of three bought blocks, of 6,000, 200,000 and 45,000 shares as of 9:30, 9:48 and 10:28 AM ET respectively, which composed two, seven and two trades respectively. Except for the first two, all of these trades went at 2 cents/share. The next two trades also went at 2 cents/share, but the next three put the price down to 1.5 cents/share. Since the last trade of the day was odd-lot size, of 913 shares at 0.5 cents/share, the closing price of 1.5 cents/share was set by the second-last one. Biomerge closed unchanged on the day.

The fourth and final NEX stock to trade more than ten times on Tuesday was Golden Hat Resources Inc. [NEX: GHA.H], with 11 trades. The first three of them were all sold through RBC at the same time; they comprised 37,000 shares of GHA.H. All of those shares went at 7.5 cents/share. The next three trade, of 2,000, 6,000 and 5,000 shares respectively, were bought through BMO Nesbitt at exactly the same time, about 12:49 PM ET. They all went at 8 cents/share. The next two trades seemed to compose a sold block of 35,000 shares. Interestingly, these two trades were at the day's high of 8.5 cents/share, even though they were bought through two different financial institutions. The third-last trade of 3,000 shares was also at 8.5 cents/share, but the last two went at lower prices: 7.5 and 8 cents/share respectively in order of dissemination. Both of them had volumes of 1,000 shares each, both went at exactly the same time of about 3:41 PM ET, and both of them were sold through Blackmont. Golden Hat closed at that same 8 cents/share, unchanged from Monday's close on daily volume of 90,000 shares.

The top percentage gainer in Tuesday's trading was Avigo Resources Corp. [NEX: TMX.H], which closed at 60 cents/share for a gain of 10 cents/share, or 20%, on the day. There were nine trades in Avigo, and the stock was up quite a bit from the first trade. The first five of those trades were bought through Canaccord, although they seemed to have been composed of two bought blocks and one single trade due to them going at different times. The first and the last of those five went at 47 cents/share, and the middle three went at 48 cents/share. The next two, of 3,500 and 45,000 shares respectively, went at the same time of 2:49 PM ET and were bought through an anonymous financial institution. The last two trades, of 5,000 shares volumes each, were also made at the same time and were bought through Global Securities. They both went at 60 cents/share, and the last of those two set the closing price. Daily volume in TMX.H was 77,000 shares.

The top percentage decliner for Tuesday was Magnate Ventures Inc. [NEX: MGV.H], which closed at 25.5 cents/share for a decline of 9.5 cents/share or 27.14%. Two trades, both going at the same time and at the same price, put Magante at its closing price. Those trades were for 4,000 and 1,000 shares respectively, totaling to the daily volume of 5,000 shares; both went at 2:59 PM ET and both were sold through National Bank.

Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):

1. The Silver Recycling Company Inc. [NEX: TSR.H], closed at 37 cents for a loss of 7 cents - 2.88% of total shares outstanding;
2. Trilogy Metals Inc. [NEX: TRI.H], closed at 87 cents for a gain of 4 cents - 2.54% of TSO;
3. Avigo Resources Corp. [NEX: TMX.H], closed at 60 cents for a gain of 10 cents - 1.24% of TSO;
4. BHR Buffalo Head Resources Ltd. [NEX: BHR.H], closed at 19 cents for a loss of 1 cent - 0.939% of TSO;
5. Rocher Deboule Minerals Corp. [NEX: RD.H], closed at 50 cents for a gain of 4 cents - 0.730% of TSO;
6. Rose Marie Resources Ltd. [NEX: RSR.H], closed at 8.5 cents for a loss of 1 cent - 0.673% of TSO;
7. Golden Hat Resources Inc. [NEX: GHA.H], closed at 8 cents unchanged - 0.261% of TSO;
8. Magnate Ventures Inc. [NEX: MGV.H], closed at 25.5 cents for a loss of 9.5 cents - 0.231% of TSO;
9. Monster Uranium Corp. [NEX: MU.H], closed at 43.5 cents for a gain of 1.5 cents - 0.127% of TSO;
10. Biomerge Industries Ltd. [NEX: BIL.H], closed at 1.5 cents unchanged - 0.110% of TSO.

NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

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NEX Report for October 29, 2007

On Monday, the Barrel's Bottom Composite Index for the NEX closed at 90.04, up 2.00 points or 2.27% from its previous close of 88.04. Trilogy Metals Inc. [NEX: TRI.H] was the "stock of the day;" it's mentioned briefly in the second part of Monday's report and more copiously in the third part. It took off like a rocket after the trading halt imposed on it this morning was lifted as of 9 AM PT or noon ET. The leap upwards in the BBCI wasn't primarily caused by that stock closing at almost double the value of its previous close, though. Trilogy was only one of several influences: in fact, it wasn't the stock that vaulted the BBCI above the 89 level. The stock that did is found below.

The first minute of trading saw the BBCI up almost 0.3 points, solely due to a 0.5 cent/share opening rise in Biomerge Industries Ltd. [NEX: BIL.H]. The erasure of that gain by 9:52 AM ET put the BBCI exactly where it was as of Friday's close. No other movers appeared until 10:50 AM, when Moneta Resources [NEX: MOT.H] made a 0.5 cent/share gain that was erased six minutes later. Once again, the BBCI stood unchanged since Friday's close, this time until 10:57 AM ET.

The next move was to the downside, to below 88, due to a 7.5 cent/share drop in the price of Arcland Resources Inc. [NEX: ADR.H] as of its first board-lot-sized trade of the day. Once there, the index didn't move until 11:38 AM ET, when a 0.5 cent/share opening rise in Golden Hat Minerals Inc. [NEX: GHA.H] put it up more than 0.03 points. That rise wasn't enough to put the BBCI back above 88. Just before noon ET, it sunk further to the low of the day, just below 87.92, where it stayed for the last two minutes before 12 PM ET.

Then, Trilogy opened for trading. It was at this point that the BBCI vaulted solidly above 88, and it didn't look back. There were four trades in TRI.H in the first minute after noon ET; the fourth left TRI.H 39 cents/share above its previous close and the BBCI at 88.22. After a short-lasting pullback to 65 cents/share that took the BBCI down below 88.2 with it, Trilogy re-rallied, but it wasn't the only stock pushing the index above 88.3 as of 12:09 PM ET. A 2 cent/share opening rise in Cierra Pacific Ventures Ltd. [NEX: CIZ.H] aided too. By 12:19 PM ET, the BBCI was approaching 88.4, and climbed above it by 12:42 PM ET thanks to a 3 cent/share opening rise in Cobre Exploration Corp. [NEX: CXV.H]. A 1.5 cent/share pullback in CXV.H put the index right at 88.4, where it hung around until 1:10 PM ET when a 0.5 cent/share rise in Global Tree Technologies Inc. [NEX: GTT.H] put the BBCI above 88.45.

The BBCI's rise until 2 PM ET was solid but irregular; by that time, it was at about 88.55. A 4 cent/share rise interday rise in Challenger Development Corp. [NEX: CDQ.H] put it above 88.6 at 2:11 PM ET, and a 1 cent/share interday rise in Rocher Deboule Minerals Corp. [NEX: RD.H] put the index above 88.7. Despite these leaps, the BBCI spent the next seventy minutes drifting downwards to reach 88.59 as of 3:03 PM ET, until the final upspurt began.

It started slowly, at 3:24 PM ET, with a 1 cent/share rise in Moneta Resources that got the BBCI up to 88.65. A further 4 cent/share interday rise in Moneta got the index up to above 88.9 at 3:40 PM, but the gainer that vaulted the BBCI up more than a point, to place it above 90, was Tapango Resources Inc. [NEX: TPA.H] through a nine cent/share gain to establish the day's high for the index. After staying at 90.06 for the next ten minutes, it was pushed down gently by a last-board-lot-sized trade in Trilogy which dropped its price by 2 cents/share from the previous trade's level, leaving TRI.H at 83 cents/share for a gain of 41 cents/share from its previous close at 42 cents/share, and the BBCI at its closing value of 90.04.

Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:

• 10 AM ET: 88.04
• 11 AM ET: 87.92
• 12 PM ET: 87.92 [slightly less than 11 AM's value, but equalized due to rounding off.]
• 1 PM ET: 88.39
• 2 PM ET: 88.56
• 3 PM ET: 88.60
• 4 PM ET/Close: 90.04

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 29th and the third part covers NEX stocks of note for that day.


[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]


NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

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