The digest form of these reports is going to be broken up, as follows: The report centering around the Barrel's Bottom Composite index; NEX stocks in the news; and, interesting traders. The last one will be written and posted first, the second will be up secondly, and the first will be written and posted third; it'll also be shifted from the "today" format to the "yesterday" format, as the TSX now updates float data on a same-day basis and I need the extra time to complete it. Conequently, the report featuring the BBCI and the graph of it will be posted overnight.
Also, any report on the release of a financial statement/M D & A will go into an entry of its own.
I'm going to write and post these in reverse-chronological order in order to preserve continuity. If you liked the long digest format, and don't mind a headline and/or link-click interruption, then you'll read essentially what you've read in the past.
In addition, I'm dropping the duplication of the TSX Venture Closing Summary's report in the other Barrel's Bottom Report. Instead, I'm going to be writing an interim version of the first part of the digest featured in this blog, as this entry there explains. It also notes that the version there will be interim, which means that it'll be subject to revision as of about the time I post the full one here.
Sunday, September 30, 2007
Saturday, September 29, 2007
September 28th NEX
In Friday's NEX trading, the Barrel's Bottom Composite index closed at 86.83, up 2.29 points or 2.71% from the previous day's close of 84.54. Two stocks were largely responsible for this upsurge, most of which took place in the last two hours of trading. ITI World Investment Group Inc. class 'A' [NEX: IWI.H] opened at 40 cents/share right at the start of trading, for an opening gain of 7 cents/share. It stayed at approximately that level until about 2:32 PM ET, when it shot up through 45 cents/share to 50 cents/share, at which it closed. The second stock was Devin Energy Corporation [NEX: DVC.H], which shot up 71 cents/share to close at $1.35/share on its last trade, of 500 shares, of the day and week. Devin didn't start trading until about 2:48 PM ET, and its first trade of 1000 shares was at the same price as its previous close, 60 cents/share. From that point, though, DVC.H went up quickly, although it didn't cross the $1.00/share mark until that last trade. There's more on both stocks below.
Those two were far from the only gainers, even though ITI was the only one as of 10 AM ET. The opening trade in Abitibi Mining Corp., at 15 cents/share, was four cents/share above its previous close, reversing a dip in the stock that only lasted for less than an hour on Thursday. Also opening higher was Consolidated Westview Resource Corp. [NEX: CWS.H], on its only trade of the day, at 34 cents/share for a 6.5 cent/share gain on 2000-share volume between 10:18 and 10:19 AM ET. Both bumped the BBCI up, although Abitibi added more of an upkick than Westview. Golden Hat Resources Inc. [NEX: GHA.H]'s opener between 10:59 and 11:00 AM ET, at 7 cents/share for a gain of 1 cent/share, also added a boost to the index, although GHA.H fell back to 6 cents/share between 1:21 and 1:22 PM ET and only partially recovered at about 2 PM ET to close at 6.5 cents/share for a 0.5 cent/share gain. The BBCI stayed relatively flat until Devin kicked in, with some up-and-down ranging, starting at about 1:11 PM ET.
ITI and Devin weren't the only two gainers pushing the BBCI up in the last hour of trading, though. In its first and only trade of the day, of 10,000 shares between 3:18 and 3:19 PM, Gold Star Resources Corp. [NEX: GXX.H] gained 3 cents/share to open and close at 17 cents/share. There were, of course, some decliners too on Friday, but most had minor drops.
Here are the values (rounded to a hundredth of a point) for the Barrel's Bottom Composite for the NEX, hour by hour:
Thirty-five NEX stocks traded Friday. Of these, 11 advanced, 4 declined and 20 remained unchanged. There were 116 trades. The top trader in terms of raw volume was Thursday's runner-up: Golden Hat Resources Inc. [NEX: GHA.H], with 145,000 shares traded on Friday. The other Barrel's Bottom report and the TSX Venture closing summary both named
Rocher Deboule Minerals Corp. [NEX: RD.H] as the top trader in terms of value, as well as Friday's runner-up in terms of raw volume. RD.H was one of the four decliners, closing at 45 cents/share for a drop of 1 cent/share on the day. Golden Hat placed sixth on the top-ten list of volume traded divided by total shares outstanding, found below; Rocher placed eighth.
There was one news release from a NEX company that was picked up by Marketwire today, although it's one that is seeking an exit from the NEX Board. Isee3d Inc. [NEX: ICT.H] has submitted an application, as of September 19th, to move to the TSX Venture Tier 2, and also plans to raise $1,200,000 through a private placement. (TSX regulations forbid a NEX company from raising more than $500,000 through private placements in a 12-month period, as the release specifies.) So, the closing of this private placement won't happen until/unless approval is granted to move to the Tier 2. The detaisl of the placement are: 4,000,000 units, if fully subscribed, at a price of 30 cents/unit. Each unit contains one common share and a warrant to purchase another at exercise price of 50 cent/share with life of 1 year and hold period of four months of the year once the placement closes. Once the warrants can be bought and sold, Isee3d has the right to cancel the warrants (specifically, redeem them for 1/10 of a cent per warrant) "at any time after the Company's listed common shares have been trading above a daily close of $0.60 for fifteen (15) consecutive trading days." Proceeds will be used "to further develop the Company's technology and proceed with the commercialization of its assets." Some will be used for working capital. ICT.H only traded an odd lot on Friday, of 53 shares at 29 cents/share at about 1:58 PM ET, so its closing price was the same as the previous close, set on Thursday, of 31 cents/share. The release was disseminated after trading closed for the week.
There were six NEX companies mentioned in two bulletins at the bottom of Friday's TSX Venture Daily Bulletins; both are found at the bottom. The first bulletin mentions five NEX stocks that are to be delisted as of the start of Monday's trading for not paying their NEX listing maintenance fee for the quarter. All five are suspended. Battery & Wireless Solutions Inc. [NEX: BWS.H], Canadian Stevia Corporation [NEX: SWT.H], MaxxCapp Corporation [NEX: MXP.H],
MIT Ventures Corp. [NEX: MVC.H] and WorkGroup Designs Ltd. [NEX: WGD.H] are NEX companies no more, as of October 1st.
The other NEX company mentioned in the Bulletins is Rose Marie Resources Ltd. [NEX: RSR.H], which got TSX Venture Exchange permission to lower the exercise price of 3,000,000 warrants, which expire on April 9th of next year, from 13 cents/share to 11 cents/share. They were issued as part of a private placement of 3 million shares early last spring. RSR.H closed at 11.5 cents/share, up 1.5 cents/share from Thursday's close. Canjex Publishing has a webbed copy of the bulletin.
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There was a relative flood of news releases from NEX companies that were sent out exclusively through Canjex today; seven sets of them announced the filing of financial statements. The first one, released last night, wasn't a financial-statements filing notice; it was a progress report from DVD Investments Limited [NEX: DVD.H]. It announced that the closing of the Mooncor Energy Ltd. reverse takeover was expected as of Friday, as was the completion of a financing package consisting of "a minimum of $2-million of non-flow-through units at a subscription price of 50 cents per unit and flow-through units at a subscription price of 60 cents per FT unit and a minimum of $2-million of a 30-month convertible subordinated secured debenture." The debenture carries an annual rate of 8% in balloon-payment format, with interest payable either on conversion or at maturity, and is convertible into shares of DVD into units at a price of 50 cents/unit for two years and sixty cents/unit for the last six months of the debenture's life. According to the release, this financing is expencted to increase the float by a minimum of 4 million shares. The entire reverse takeover is expected to leave about 8% of the newly-structured DVD in the hands of current DVD shareholders, about 7% in the hands of the buyers of the units, and about 85% in the hands of Mooncor shareholders. (Hence the name "reverse takeover" that's applied to this kind of financial maneuvering.) DVD.H is currently halted; its last close was at 60 cents/share, made as of November 3rd, 2006. There has been no update to the progess report disseminated as of yet.
As mentioned above, there were seven NEX companies that announced the filing of financial statements over the course of Friday. eTV Technology Inc. has filed thee pairs of financial statements and M D & As, evidently to get up to date on its filings so as to come out of suspension. The periods covered, the quarters ending December 31st, 2006 [financial statements PDF file; M D & A PDF file], March 31, 2007 [financial statements PDF file; M D & A PDF file] and June 30th, 2007 [financial statements PDF file; M D & A PDF file], put eTV up to date in the filing of its interim financial statements. As of the most recent quarter, eTV had no revenue; general and administrative expenses ballooned to $86,397 from $11,198 as of the second quarter of 2006. The M D & A explains the increase as "mainly a result of increased management fees incurred in restructuring the company." The first page states that, as of "June 30, 2007, the Company had not yet achieved profitable operations, has accumulated losses of
$12,242,269 since its inception, has a working capital deficiency of $554,727, and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern." Book value is below zero: -4.9 cents/share. eTV does, however have accumulated tax losses of $1,771,334, which expire in tranches between 2008 and 2017. These are not vendible.
The first of six regular interim (unaudited) financial statements were filed by a company that was reinstituted for trading at the beginning of this month. BHR Buffalo Head Resources Ltd. [NEX: BHR.H] [PDF file]. As of the most recent quarter, ending July 31st, BHR has $1,835 in cash and a working capital deficiency of $170,495. Book value is -3.93 cents/share, and no revenue has come in: none since, at the latest, the first quarter of 2006. Note 8 discloses that the proceeds from a private placement in the works will be used partially for "the payment of certain debt obligations of approximately $175,000." The planned value of the private placement is $675,000, and it has not received regulatory approval. Evidently, BHR securing the full amount is contingent upon it moving to Tier 2 of the VSE. The M D & A [PDF file] states on its first page that the company is kept afloat through loans from directors. BHR.H didn't trade on Friday; its last close, as of last Tuesday, was at 15 cents/share.
Second on the financials list is Consolidated Global Cable Systems Inc. [NEX: GCS.H], whose financial statements [PDF file] are also unaudited interim ones, for the second quarter of FY 2008. Global Cable is another inactive company, with no revenues since the first quarter of FY 2007 at the latest, a loss of $20,076 for the most recent quarter which ended August 31st for a (stable) loss of 0.412 cents/share, and a book value of -9.62 cents/share. The company is being kept afloat by loans from related parties, which are interest-free and have no specified terms. The accompanying M D & A [PDF file] does mention a $550,000 lawsuit hanging over Global Cable's head, originally filed by Boston Telecommunications Group, Inc. in late 2002 because of a busted partnership agreement. So does note 4 of the financial statement. Global Cable has been named as "a defendant," according to that note. The lawsuit has already been dismissed in regualr court, and is currently under appeal. Global Cable's working capital deficiency is $468,993. GCS.H didn't trade on Friday; its last close, as of Sept. 13th, was at 17 cents/share.
Next was Silvio Ventures Inc. [NEX: SVC.H], one of the most active traders in terms of number of trades this past week. The interim financial statements, for the second quarter of FY 2007 which ended July 31st [PDF file], show cash on hand in the amount of $403,592 and working capital in the amount of $391,037. Book value is positive as well, in the amount of 4.57 cents/share as of 2Q '07; as of 4Q '06, it was negative. The increase was enitely due to an addition in shareholders' equity and a new contributed surplus; no income was recorded for 2Q '07. Losses increased to $53,669 as compared with $5,622 for 2Q '06, as a result of professional fees incurred for a planned reverse takeover of/by Frontenac Ventures Corp.; it was cancelled after the end of 2Q '07, according to the accompanying M D & A [PDF file]. Although the company has cash, it got the cash from a financing. There are no planned capital expenditures as of the time of preparing the M D & A. Silvio closed Friday at 50 cents/share, down 1 cent/share from Thursday's close.
Abitibi Mining Corp. [NEX: ABB.H] has filed a full annual report for fiscal year 2007, ending May 31st of this year, containing financial statements [PDF file] and accompanying M D & A [PDF file]. The financial statements have been audited with an unqualified opinion from the auditors. Abitibi Mining has $74,340 in cash as of May 31st of this year, but has a working capital deficit of $659,113. Almost all of the deficit is due to the current-liability item "Due to Related Parties," in the amount of $737,359, up from $519,244 as of the end of FY 2006. Unlike at the end of FY '06, book value at the end of FY '07 is negative: -1.04 cents/share using the then-current number of total shares outstanding in the report. No revenue was recorded for either FY '07 or FY '06. Net loss for FY '07 would have been less than the one for '06 had it not been for the write-off of $446,115 in mineral properties costs, associated with Abitibi Mining's plan to move to Tier 2 of the Venture Exchange by acquiring properties. The M D & A specifies: "Additions to the deferred expenditures during the year relate to the acquisition of the Legris Lake Property in Ontario and the Chapleau Diamond Project." It also specifies that the lessening of the loss before other items (also in the income statement are losses/gains on marketable securities and a gain from option income on mineral properties, which only appeared in FY '06) is due to "a reduction of $356,600 in stock based compensation as the Company did not grant options in the past year but did in the prior year." Both directors' fees and administrative services have increased, as the company moves towards the Tier 2 and gets more active (the respective reason cited for each increase.) Cash flow was kept mildly negative in FY '07 due to financing activities. Note 1 of the financial statments says that Abitibi Mining needs cash from further financings, intended to be private placements, to keep afloat. It has a portfolio of at least seven claims groups. Only two of them, according to note 4, have had money spent on (as opposed to for) them: the Chapleau Claims and the Legris Lake properties; both had money spent for "Line cutting, survey, geoservices." Only Chapleau Claims has had money entered into the "Exploration administration" account. The Legris Lake property requires Abitibi Mining to spend $750,000 over the next five years to keep its 100% interest, as well as further outlays of cash over the next four years totalling $125,000. Hanging on to interests acquired in four recently-optioned properties is contingent upon Abitibi Mining moving to Tier 2 of the Venture.
Fifthly, Module Resources Incorporated [NEX: MLE.H] has released its interim and unaudited financial statements for the quarter ending July 31st of this year, the third quarter of FY 2007. [PDF file]. Module has $238,714 in cash and cash equivalents on the balance sheets and working capital of $200,477, up from $87,895 as of 3Q '06. Accounts receivables ballooned to $36,777 from a negligible amount, but so did current liabilities due to related parties to $56,403. According to note 4 of the financial statements, there are no interest charges or fixed terms of repayment for those due-to-related party liabilities. Book value is positive, in the amount of 1.71 cents/share using the number of shares issued from Note 3(b). Cash and cash equivalents increased by $65,968 during 3Q '07 because of financing inflow of $158,240 due to shares issued and an increase in related-party loans in the amount of $50,067, making up for the use of $142,339 in that period. 3Q '06 saw the use of $12,516 in cash, partially balanced by an $8,000 advance from related parties. The accompanying M D & A [PDF file] specifies the reason for the increased loss and drain of cash, before related-party financing and issuance of shares: "In both comparative periods the Company incurred higher expenses for exploration, securities and investor relations, legal and audit, and office and administration. The increased expenses reflect increased business activity related to the Company optioning the Carolin property from Century Mining." It also specifies that the $158,240 inflow is the "balance of proceeds from the $400,000 private placement" made in the quarter, and that further financings will be needed to develop the Carolin property. MLE.H didn't trade Friday; it last closed on Thursday at 24.5 cents/share.
Sixthly and finally, the unaudited interim financial statements of Achieva Development Corp. [NEX: AHE.H] [PDF file] and the accompanying M D & A [another PDF file] for the third quarter of this fiscal year have also been filed. Achieva has $170,337 in cash and cash equivalents and working capital of $169,547, according to the M D & A. No income has been earned by Achieva since of the beginning of FY '06, most recently. The loss for the quarter shrunk to $40,847 from $65,876 in 3Q '06 due to a reduction in both professional fees and filing & transfer fees. Cash and cash equivalents decreased $38,883 during this period, almost all as a result of quarterly expenses as listed in what would be the income statement had there been any income. Acheiva is currently in negotiations for a reverse takeover of/by Dominion Metals Corp., as note 5 of the financials explains. Trading in AHE.H is currently halted.
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Three NEX stocks traded more than ten times on Friday, and all three of them had exactly the same amount of trades - fifteen each - making for a three-way tie in this category. Silvio Ventures [as noted above, SIV.H] was one of them. Five out of the fifteen trades in SIV.H were baord-lot sized, but all of them had four-figure volumes. Prices for the board lots ranged from 50 to 51 cents/share, and trading in odd lots ranged from 48 cents/share to 44.5 cents/share. The last six odd-lot trades, comprising a total of 894 shares, were all at that 44.5 cents/share price; those trades were the seventh- to the second-last trades of the day. (The last one was for 4,000 shares at a price of 50 cent/share, SIV.H's closing price.) SIV.H traded 86 times this week, with 63 of those trades being odd-lot sized. All 63 had PI Securities as the buy-side financial institution. Friday's volume for SIV.H was 17,106 shares. For the second day in a row, SIV.H got in the bottom spot on the top ten daily-turnover list, found below.
The second trader with 15 trades on Friday was Rocher Deboule Minerals Corp., already noted above as one of Friday's four decliners; RD.H dropped a penny a share to close at 45 cents/share. Had there not been six trades, totalling 59,500 shares, all sold through BMO Nesbitt during the last five minutes of trading, at prices ranging from 42.5 cents/share to 45 cents/share, Rocher wouldn't have been in this list. All of the first 7 trades of the day went for 46 cents/share, and the eighth went for 45 cents/share at about 2:24 PM ET. Trades four through six (in chronological order) had RBC as the sell-side financial institution, with a total of of 10,000 shares between those three which were made between about 1:25 and 2:05 PM ET.
The third and final NEX stock with fifteen trades was ITI World Investment Group Inc. class 'A' [NEX: IWI.H, to remind you], which was discussed above as one of the day's two big leapers. Twelve or fourteen of these fifteen seem to be part of three or four bought blocks: the first three went at two seconds after the opening and had Qtrade as the buy-side financial institution. 27,000 shares were bought through Qtrade at that time, all at a price of 40 cents/share. The second presumed block comprised six trades, all with TD Securities as the buy-side financial institution, which went at times ranging from about 2:28 to 2:36 PM ET and prices ranging from 40 cents/share to 50 cents/share. A total of 17,500 shares of IWI.H were bought through TD at those times. A third presumed block consisted of three trades, the last three of the day, all through Penson. These trades in the third presumed block were made between about 2:42 PM and 3:08 PM ET, and all at a price of 50 cents/share. 3,000 shares were bought through Penson in that time range. (There might have been another bought block through two trades at about 1:21 to 1:22 PM ET, both with Northern Securities as the buy-side financial institution, at 39 cents/share with total volume of 5,500 shares.) All told, the trading in ITI class 'A', which closed at 50 cents/share with a gain of 17 cents/share, presents a pattern of at least a few multi-trade blocks that were part of a buying spree. Note, though, that this conclusion is based upon the sketchy information provided by the trades data, making it the product of educated guesswork. IWI.H placed fourth on the top-ten list by volume as a ratio of TSO or the float, found below.
The top percentage gainer in Friday's trading, by far, was Devin Energy Corporation [NEX: DVC.H], which was the only triple-digit gainer in a trading day this month. Devin closed at $1.35/share for a gain of 74 cents/share, or 121.3%, on the day. Eight trades, totalling 8,500 shares, accounted for it. All of them were bought through E-Trade. Five of the eight trades were for 99 cents/share; the first and second, for 1,000 and 2,000 shares respectively, were for 60 cents/share and 80 cents/share. Devin was pushed above the dollar-a-share point by the eighth and final trade; thanks to that rise, those 500 shares comprised five board lots instead of the single board lot they would have been had DVC.H stayed below a dollar per share. Devin made spot #5 on the top-ten list of traders as measured by daily turnover of the float, found just below.
The top percentage decliner for Friday was X-Tal Minerals Corp. [NEX: XMT.H], with a close at 53 cents/share for a drop of 7 cents/share or 11.68%. X-Tal was the only NEX issue to decline by more than a single-digit percentage that day. One sole trade of 1,000 shares, at about 2:03 PM ET, put XMT.H in this spot, although it did come within a cent of its 52-week low. For perspective's sake, XMT.H's 52-week high is 70 cents/share.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
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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Those two were far from the only gainers, even though ITI was the only one as of 10 AM ET. The opening trade in Abitibi Mining Corp., at 15 cents/share, was four cents/share above its previous close, reversing a dip in the stock that only lasted for less than an hour on Thursday. Also opening higher was Consolidated Westview Resource Corp. [NEX: CWS.H], on its only trade of the day, at 34 cents/share for a 6.5 cent/share gain on 2000-share volume between 10:18 and 10:19 AM ET. Both bumped the BBCI up, although Abitibi added more of an upkick than Westview. Golden Hat Resources Inc. [NEX: GHA.H]'s opener between 10:59 and 11:00 AM ET, at 7 cents/share for a gain of 1 cent/share, also added a boost to the index, although GHA.H fell back to 6 cents/share between 1:21 and 1:22 PM ET and only partially recovered at about 2 PM ET to close at 6.5 cents/share for a 0.5 cent/share gain. The BBCI stayed relatively flat until Devin kicked in, with some up-and-down ranging, starting at about 1:11 PM ET.
ITI and Devin weren't the only two gainers pushing the BBCI up in the last hour of trading, though. In its first and only trade of the day, of 10,000 shares between 3:18 and 3:19 PM, Gold Star Resources Corp. [NEX: GXX.H] gained 3 cents/share to open and close at 17 cents/share. There were, of course, some decliners too on Friday, but most had minor drops.
Here are the values (rounded to a hundredth of a point) for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 84.71
- 11 AM: 85.19
- 12 PM: 85.18
- 1 PM: 85.22
- 2 PM: 85.24
- 3 PM: 85.68
- 4 PM/Close: 86.82
Thirty-five NEX stocks traded Friday. Of these, 11 advanced, 4 declined and 20 remained unchanged. There were 116 trades. The top trader in terms of raw volume was Thursday's runner-up: Golden Hat Resources Inc. [NEX: GHA.H], with 145,000 shares traded on Friday. The other Barrel's Bottom report and the TSX Venture closing summary both named
Rocher Deboule Minerals Corp. [NEX: RD.H] as the top trader in terms of value, as well as Friday's runner-up in terms of raw volume. RD.H was one of the four decliners, closing at 45 cents/share for a drop of 1 cent/share on the day. Golden Hat placed sixth on the top-ten list of volume traded divided by total shares outstanding, found below; Rocher placed eighth.
There was one news release from a NEX company that was picked up by Marketwire today, although it's one that is seeking an exit from the NEX Board. Isee3d Inc. [NEX: ICT.H] has submitted an application, as of September 19th, to move to the TSX Venture Tier 2, and also plans to raise $1,200,000 through a private placement. (TSX regulations forbid a NEX company from raising more than $500,000 through private placements in a 12-month period, as the release specifies.) So, the closing of this private placement won't happen until/unless approval is granted to move to the Tier 2. The detaisl of the placement are: 4,000,000 units, if fully subscribed, at a price of 30 cents/unit. Each unit contains one common share and a warrant to purchase another at exercise price of 50 cent/share with life of 1 year and hold period of four months of the year once the placement closes. Once the warrants can be bought and sold, Isee3d has the right to cancel the warrants (specifically, redeem them for 1/10 of a cent per warrant) "at any time after the Company's listed common shares have been trading above a daily close of $0.60 for fifteen (15) consecutive trading days." Proceeds will be used "to further develop the Company's technology and proceed with the commercialization of its assets." Some will be used for working capital. ICT.H only traded an odd lot on Friday, of 53 shares at 29 cents/share at about 1:58 PM ET, so its closing price was the same as the previous close, set on Thursday, of 31 cents/share. The release was disseminated after trading closed for the week.
There were six NEX companies mentioned in two bulletins at the bottom of Friday's TSX Venture Daily Bulletins; both are found at the bottom. The first bulletin mentions five NEX stocks that are to be delisted as of the start of Monday's trading for not paying their NEX listing maintenance fee for the quarter. All five are suspended. Battery & Wireless Solutions Inc. [NEX: BWS.H], Canadian Stevia Corporation [NEX: SWT.H], MaxxCapp Corporation [NEX: MXP.H],
MIT Ventures Corp. [NEX: MVC.H] and WorkGroup Designs Ltd. [NEX: WGD.H] are NEX companies no more, as of October 1st.
The other NEX company mentioned in the Bulletins is Rose Marie Resources Ltd. [NEX: RSR.H], which got TSX Venture Exchange permission to lower the exercise price of 3,000,000 warrants, which expire on April 9th of next year, from 13 cents/share to 11 cents/share. They were issued as part of a private placement of 3 million shares early last spring. RSR.H closed at 11.5 cents/share, up 1.5 cents/share from Thursday's close. Canjex Publishing has a webbed copy of the bulletin.
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There was a relative flood of news releases from NEX companies that were sent out exclusively through Canjex today; seven sets of them announced the filing of financial statements. The first one, released last night, wasn't a financial-statements filing notice; it was a progress report from DVD Investments Limited [NEX: DVD.H]. It announced that the closing of the Mooncor Energy Ltd. reverse takeover was expected as of Friday, as was the completion of a financing package consisting of "a minimum of $2-million of non-flow-through units at a subscription price of 50 cents per unit and flow-through units at a subscription price of 60 cents per FT unit and a minimum of $2-million of a 30-month convertible subordinated secured debenture." The debenture carries an annual rate of 8% in balloon-payment format, with interest payable either on conversion or at maturity, and is convertible into shares of DVD into units at a price of 50 cents/unit for two years and sixty cents/unit for the last six months of the debenture's life. According to the release, this financing is expencted to increase the float by a minimum of 4 million shares. The entire reverse takeover is expected to leave about 8% of the newly-structured DVD in the hands of current DVD shareholders, about 7% in the hands of the buyers of the units, and about 85% in the hands of Mooncor shareholders. (Hence the name "reverse takeover" that's applied to this kind of financial maneuvering.) DVD.H is currently halted; its last close was at 60 cents/share, made as of November 3rd, 2006. There has been no update to the progess report disseminated as of yet.
As mentioned above, there were seven NEX companies that announced the filing of financial statements over the course of Friday. eTV Technology Inc. has filed thee pairs of financial statements and M D & As, evidently to get up to date on its filings so as to come out of suspension. The periods covered, the quarters ending December 31st, 2006 [financial statements PDF file; M D & A PDF file], March 31, 2007 [financial statements PDF file; M D & A PDF file] and June 30th, 2007 [financial statements PDF file; M D & A PDF file], put eTV up to date in the filing of its interim financial statements. As of the most recent quarter, eTV had no revenue; general and administrative expenses ballooned to $86,397 from $11,198 as of the second quarter of 2006. The M D & A explains the increase as "mainly a result of increased management fees incurred in restructuring the company." The first page states that, as of "June 30, 2007, the Company had not yet achieved profitable operations, has accumulated losses of
$12,242,269 since its inception, has a working capital deficiency of $554,727, and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern." Book value is below zero: -4.9 cents/share. eTV does, however have accumulated tax losses of $1,771,334, which expire in tranches between 2008 and 2017. These are not vendible.
The first of six regular interim (unaudited) financial statements were filed by a company that was reinstituted for trading at the beginning of this month. BHR Buffalo Head Resources Ltd. [NEX: BHR.H] [PDF file]. As of the most recent quarter, ending July 31st, BHR has $1,835 in cash and a working capital deficiency of $170,495. Book value is -3.93 cents/share, and no revenue has come in: none since, at the latest, the first quarter of 2006. Note 8 discloses that the proceeds from a private placement in the works will be used partially for "the payment of certain debt obligations of approximately $175,000." The planned value of the private placement is $675,000, and it has not received regulatory approval. Evidently, BHR securing the full amount is contingent upon it moving to Tier 2 of the VSE. The M D & A [PDF file] states on its first page that the company is kept afloat through loans from directors. BHR.H didn't trade on Friday; its last close, as of last Tuesday, was at 15 cents/share.
Second on the financials list is Consolidated Global Cable Systems Inc. [NEX: GCS.H], whose financial statements [PDF file] are also unaudited interim ones, for the second quarter of FY 2008. Global Cable is another inactive company, with no revenues since the first quarter of FY 2007 at the latest, a loss of $20,076 for the most recent quarter which ended August 31st for a (stable) loss of 0.412 cents/share, and a book value of -9.62 cents/share. The company is being kept afloat by loans from related parties, which are interest-free and have no specified terms. The accompanying M D & A [PDF file] does mention a $550,000 lawsuit hanging over Global Cable's head, originally filed by Boston Telecommunications Group, Inc. in late 2002 because of a busted partnership agreement. So does note 4 of the financial statement. Global Cable has been named as "a defendant," according to that note. The lawsuit has already been dismissed in regualr court, and is currently under appeal. Global Cable's working capital deficiency is $468,993. GCS.H didn't trade on Friday; its last close, as of Sept. 13th, was at 17 cents/share.
Next was Silvio Ventures Inc. [NEX: SVC.H], one of the most active traders in terms of number of trades this past week. The interim financial statements, for the second quarter of FY 2007 which ended July 31st [PDF file], show cash on hand in the amount of $403,592 and working capital in the amount of $391,037. Book value is positive as well, in the amount of 4.57 cents/share as of 2Q '07; as of 4Q '06, it was negative. The increase was enitely due to an addition in shareholders' equity and a new contributed surplus; no income was recorded for 2Q '07. Losses increased to $53,669 as compared with $5,622 for 2Q '06, as a result of professional fees incurred for a planned reverse takeover of/by Frontenac Ventures Corp.; it was cancelled after the end of 2Q '07, according to the accompanying M D & A [PDF file]. Although the company has cash, it got the cash from a financing. There are no planned capital expenditures as of the time of preparing the M D & A. Silvio closed Friday at 50 cents/share, down 1 cent/share from Thursday's close.
Abitibi Mining Corp. [NEX: ABB.H] has filed a full annual report for fiscal year 2007, ending May 31st of this year, containing financial statements [PDF file] and accompanying M D & A [PDF file]. The financial statements have been audited with an unqualified opinion from the auditors. Abitibi Mining has $74,340 in cash as of May 31st of this year, but has a working capital deficit of $659,113. Almost all of the deficit is due to the current-liability item "Due to Related Parties," in the amount of $737,359, up from $519,244 as of the end of FY 2006. Unlike at the end of FY '06, book value at the end of FY '07 is negative: -1.04 cents/share using the then-current number of total shares outstanding in the report. No revenue was recorded for either FY '07 or FY '06. Net loss for FY '07 would have been less than the one for '06 had it not been for the write-off of $446,115 in mineral properties costs, associated with Abitibi Mining's plan to move to Tier 2 of the Venture Exchange by acquiring properties. The M D & A specifies: "Additions to the deferred expenditures during the year relate to the acquisition of the Legris Lake Property in Ontario and the Chapleau Diamond Project." It also specifies that the lessening of the loss before other items (also in the income statement are losses/gains on marketable securities and a gain from option income on mineral properties, which only appeared in FY '06) is due to "a reduction of $356,600 in stock based compensation as the Company did not grant options in the past year but did in the prior year." Both directors' fees and administrative services have increased, as the company moves towards the Tier 2 and gets more active (the respective reason cited for each increase.) Cash flow was kept mildly negative in FY '07 due to financing activities. Note 1 of the financial statments says that Abitibi Mining needs cash from further financings, intended to be private placements, to keep afloat. It has a portfolio of at least seven claims groups. Only two of them, according to note 4, have had money spent on (as opposed to for) them: the Chapleau Claims and the Legris Lake properties; both had money spent for "Line cutting, survey, geoservices." Only Chapleau Claims has had money entered into the "Exploration administration" account. The Legris Lake property requires Abitibi Mining to spend $750,000 over the next five years to keep its 100% interest, as well as further outlays of cash over the next four years totalling $125,000. Hanging on to interests acquired in four recently-optioned properties is contingent upon Abitibi Mining moving to Tier 2 of the Venture.
Fifthly, Module Resources Incorporated [NEX: MLE.H] has released its interim and unaudited financial statements for the quarter ending July 31st of this year, the third quarter of FY 2007. [PDF file]. Module has $238,714 in cash and cash equivalents on the balance sheets and working capital of $200,477, up from $87,895 as of 3Q '06. Accounts receivables ballooned to $36,777 from a negligible amount, but so did current liabilities due to related parties to $56,403. According to note 4 of the financial statements, there are no interest charges or fixed terms of repayment for those due-to-related party liabilities. Book value is positive, in the amount of 1.71 cents/share using the number of shares issued from Note 3(b). Cash and cash equivalents increased by $65,968 during 3Q '07 because of financing inflow of $158,240 due to shares issued and an increase in related-party loans in the amount of $50,067, making up for the use of $142,339 in that period. 3Q '06 saw the use of $12,516 in cash, partially balanced by an $8,000 advance from related parties. The accompanying M D & A [PDF file] specifies the reason for the increased loss and drain of cash, before related-party financing and issuance of shares: "In both comparative periods the Company incurred higher expenses for exploration, securities and investor relations, legal and audit, and office and administration. The increased expenses reflect increased business activity related to the Company optioning the Carolin property from Century Mining." It also specifies that the $158,240 inflow is the "balance of proceeds from the $400,000 private placement" made in the quarter, and that further financings will be needed to develop the Carolin property. MLE.H didn't trade Friday; it last closed on Thursday at 24.5 cents/share.
Sixthly and finally, the unaudited interim financial statements of Achieva Development Corp. [NEX: AHE.H] [PDF file] and the accompanying M D & A [another PDF file] for the third quarter of this fiscal year have also been filed. Achieva has $170,337 in cash and cash equivalents and working capital of $169,547, according to the M D & A. No income has been earned by Achieva since of the beginning of FY '06, most recently. The loss for the quarter shrunk to $40,847 from $65,876 in 3Q '06 due to a reduction in both professional fees and filing & transfer fees. Cash and cash equivalents decreased $38,883 during this period, almost all as a result of quarterly expenses as listed in what would be the income statement had there been any income. Acheiva is currently in negotiations for a reverse takeover of/by Dominion Metals Corp., as note 5 of the financials explains. Trading in AHE.H is currently halted.
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Three NEX stocks traded more than ten times on Friday, and all three of them had exactly the same amount of trades - fifteen each - making for a three-way tie in this category. Silvio Ventures [as noted above, SIV.H] was one of them. Five out of the fifteen trades in SIV.H were baord-lot sized, but all of them had four-figure volumes. Prices for the board lots ranged from 50 to 51 cents/share, and trading in odd lots ranged from 48 cents/share to 44.5 cents/share. The last six odd-lot trades, comprising a total of 894 shares, were all at that 44.5 cents/share price; those trades were the seventh- to the second-last trades of the day. (The last one was for 4,000 shares at a price of 50 cent/share, SIV.H's closing price.) SIV.H traded 86 times this week, with 63 of those trades being odd-lot sized. All 63 had PI Securities as the buy-side financial institution. Friday's volume for SIV.H was 17,106 shares. For the second day in a row, SIV.H got in the bottom spot on the top ten daily-turnover list, found below.
The second trader with 15 trades on Friday was Rocher Deboule Minerals Corp., already noted above as one of Friday's four decliners; RD.H dropped a penny a share to close at 45 cents/share. Had there not been six trades, totalling 59,500 shares, all sold through BMO Nesbitt during the last five minutes of trading, at prices ranging from 42.5 cents/share to 45 cents/share, Rocher wouldn't have been in this list. All of the first 7 trades of the day went for 46 cents/share, and the eighth went for 45 cents/share at about 2:24 PM ET. Trades four through six (in chronological order) had RBC as the sell-side financial institution, with a total of of 10,000 shares between those three which were made between about 1:25 and 2:05 PM ET.
The third and final NEX stock with fifteen trades was ITI World Investment Group Inc. class 'A' [NEX: IWI.H, to remind you], which was discussed above as one of the day's two big leapers. Twelve or fourteen of these fifteen seem to be part of three or four bought blocks: the first three went at two seconds after the opening and had Qtrade as the buy-side financial institution. 27,000 shares were bought through Qtrade at that time, all at a price of 40 cents/share. The second presumed block comprised six trades, all with TD Securities as the buy-side financial institution, which went at times ranging from about 2:28 to 2:36 PM ET and prices ranging from 40 cents/share to 50 cents/share. A total of 17,500 shares of IWI.H were bought through TD at those times. A third presumed block consisted of three trades, the last three of the day, all through Penson. These trades in the third presumed block were made between about 2:42 PM and 3:08 PM ET, and all at a price of 50 cents/share. 3,000 shares were bought through Penson in that time range. (There might have been another bought block through two trades at about 1:21 to 1:22 PM ET, both with Northern Securities as the buy-side financial institution, at 39 cents/share with total volume of 5,500 shares.) All told, the trading in ITI class 'A', which closed at 50 cents/share with a gain of 17 cents/share, presents a pattern of at least a few multi-trade blocks that were part of a buying spree. Note, though, that this conclusion is based upon the sketchy information provided by the trades data, making it the product of educated guesswork. IWI.H placed fourth on the top-ten list by volume as a ratio of TSO or the float, found below.
The top percentage gainer in Friday's trading, by far, was Devin Energy Corporation [NEX: DVC.H], which was the only triple-digit gainer in a trading day this month. Devin closed at $1.35/share for a gain of 74 cents/share, or 121.3%, on the day. Eight trades, totalling 8,500 shares, accounted for it. All of them were bought through E-Trade. Five of the eight trades were for 99 cents/share; the first and second, for 1,000 and 2,000 shares respectively, were for 60 cents/share and 80 cents/share. Devin was pushed above the dollar-a-share point by the eighth and final trade; thanks to that rise, those 500 shares comprised five board lots instead of the single board lot they would have been had DVC.H stayed below a dollar per share. Devin made spot #5 on the top-ten list of traders as measured by daily turnover of the float, found just below.
The top percentage decliner for Friday was X-Tal Minerals Corp. [NEX: XMT.H], with a close at 53 cents/share for a drop of 7 cents/share or 11.68%. X-Tal was the only NEX issue to decline by more than a single-digit percentage that day. One sole trade of 1,000 shares, at about 2:03 PM ET, put XMT.H in this spot, although it did come within a cent of its 52-week low. For perspective's sake, XMT.H's 52-week high is 70 cents/share.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Magnate Ventures Inc. [NEX: MGV.H] - 2.47% of total shares outstanding;
- SMC Ventures Inc. [NEX: SMV.H] - 1.04% of TSO;
- Rose Marie Resources Ltd. [NEX: RSR.H] - 0.746%;
- ITI World Investment Group Inc. class 'A' [NEX: IWI.H] - 0.485%;
- Dorato Resources Inc. [NEX: DRI.H] - 0.432%;
- Golden Hat Resources Inc. [NEX: GHA.H] - 0.420%;
- eReservation Systems Corp. [NEX: RSS.H] - 0.359%;
- Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.356%;
- Focus Ventures Ltd. [NEX: FCV.H] - 0.208%;
- Silvio Ventures Inc. [NEX: SIV.H] - 0.200%.
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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Thursday, September 27, 2007
September 27th NEX
In today's NEX trading, the Barrel's Bottom Composite index closed at 84.54, down 1.18 points or 1.38% from the previous day's close of 85.72. The decline started right at the opening of trading, with a 3.5 cent/share drop in Isee3d Inc. [NEX: ICT.H] and a 1 cent/share drop in Champlain Resources Inc. [NEX: CPL.H] being only partially counterbalanced by a 1 cent/share rise in Xgen Ventures Inc. [NEX: XGN.H]. After dropping about 0.07 points right at the opening, the BBC Index stayed even until 10:02 AM ET. A 2 cent/share opening drop in ITI World Investment Group Inc. class 'A'. [NEX: IWI.H] was counteracted by a 2.5 cent/share opening rise in Gainey Resources Ltd. [NEX: GRD.H], helping keep the BBCI roughly steady until about 10:50 AM ET.
At that minute, the decline resumed, as reinforced by drops in four issues as of their first trades of the day. (For one of them, it was the first trade since being transferred to the NEX.) A 2 cent/share drop in Silvio Ventures Inc., a 0.5 cent/share drop in Toba Industries Ltd. [NEX: TBG.H], a 3 cent/share drop in infrequently traded X-Tal Minerals Corp. [NEX: XMT.H], and a mere half-cent/share drop in new NEX issue Biomerge Industries Ltd. [NEX: BIL.H] all contributed to a drop in the BBCI of almost three-tenths of a point. It was actually Biomerge that was responsible for most of the decline at that time, because of the large number of its total shares outstanding: almost 250 million of them.
After shedding more than a tenth of a point in the next minute, BBCI partially reversed its downtrend shortly after 11 AM ET, pushing the BBCI up above 85 1/3. A dip at about 11:30 PM ET reversed itself twenty minutes later, keeping the decline relatively slight until 12 PM ET, when the downturn revived in earnest. A 5 cent/share drop in the first trade of another infrequent trader, Pacific Wildcat Resources Corp. [NEX: PAW.H], pushed the index down more than 0.15 points between noon ET and 12:01 ET.
The drop continued, with only minor reversals, for most of the afternoon. By 2:09 PM, the BBCI dipped below 85; after a recovery to slighly above that level, 85 became a quickly receding ceiling. After a secondary uptrend starting at 3:02 PM ET, which carried the index to a little more than 0.3 points below 85, the BBCI dropped to below 84.5. Another secondary uptrend fizzled, putting the index back below 84.5, but a near-last-minute rise in Rocher Deboule Minerals Corp. [NEX: RD.H] pulled the index up to its closing value of 84.54.
Here are the values (rounded to a hundredth of a point) for the Barrel's Bottom Composite for the NEX, hour by hour:
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
At that minute, the decline resumed, as reinforced by drops in four issues as of their first trades of the day. (For one of them, it was the first trade since being transferred to the NEX.) A 2 cent/share drop in Silvio Ventures Inc., a 0.5 cent/share drop in Toba Industries Ltd. [NEX: TBG.H], a 3 cent/share drop in infrequently traded X-Tal Minerals Corp. [NEX: XMT.H], and a mere half-cent/share drop in new NEX issue Biomerge Industries Ltd. [NEX: BIL.H] all contributed to a drop in the BBCI of almost three-tenths of a point. It was actually Biomerge that was responsible for most of the decline at that time, because of the large number of its total shares outstanding: almost 250 million of them.
After shedding more than a tenth of a point in the next minute, BBCI partially reversed its downtrend shortly after 11 AM ET, pushing the BBCI up above 85 1/3. A dip at about 11:30 PM ET reversed itself twenty minutes later, keeping the decline relatively slight until 12 PM ET, when the downturn revived in earnest. A 5 cent/share drop in the first trade of another infrequent trader, Pacific Wildcat Resources Corp. [NEX: PAW.H], pushed the index down more than 0.15 points between noon ET and 12:01 ET.
The drop continued, with only minor reversals, for most of the afternoon. By 2:09 PM, the BBCI dipped below 85; after a recovery to slighly above that level, 85 became a quickly receding ceiling. After a secondary uptrend starting at 3:02 PM ET, which carried the index to a little more than 0.3 points below 85, the BBCI dropped to below 84.5. Another secondary uptrend fizzled, putting the index back below 84.5, but a near-last-minute rise in Rocher Deboule Minerals Corp. [NEX: RD.H] pulled the index up to its closing value of 84.54.
Here are the values (rounded to a hundredth of a point) for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 85.64
- 11 AM: 85.23
- 12 PM: 85.36
- 1 PM: 85.08
- 2 PM: 85.08
- 3 PM: 84.60
- 4 PM/Close: 84.54
Thirty-six NEX stocks traded today. Of these, 7 advanced, 14 declined and 15 remained unchanged. There were 134 trades. The top trader in terms of raw volume was the same as yesterday's and that of the day before: Toba Industries Ltd. [NEX: TBG.H], with 298,667 shares traded today. Golden Hat Resources Inc. [NEX: GHA.H] was the runner-up once again in raw-volume terms. The other Barrel's Bottom report and the TSX Venture closing summary both named Toba as today's top trader in terms of value of shares traded as well, as it was yesterday too. Toba placed fourth on the top-ten list of volume traded divided by total shares outstanding, found below; Golden Hat placed sixth.
There was one news release from a NEX company that was picked up by Marketwire today. Rocher Deboule announced that it has applied for drilling permits for its Artillery Peak Manganese Project. If granted by the Bureau of Land Management (Mohave County, Arizona,) the drilling should start in mid-November, according to the release. Historical studies for the Chapin West Showings indicate that there are economic levels of manganese in Artillary Peak, although Rocher has no contemporary studies confirming it as of yet except for surface samples. "The historical resource for the Artillery Mountain manganese deposits is estimated at 175,000,000 tonnes averaging 3.5 - 4% Mn as reported in Manganese Deposits of Western Arizona 1958 Information Circular #7843 by (L.L. Farmham and L.A. Stewart). Approximately half of the deposits are on the Rocher Deboule Minerals Corp. claims." The news release itself has further details. As mentioned above, Rocher closed at 46 cents/share today, down 2 cents/share since yesterday's close. The release was disseminated a few hours before trading opened.
There was one bulletin from a NEX company in today's TSX Venture Daily Bulletins, found at the bottom. It announces a halt in the trading of Emergence Resort Canada Inc. [NEX: ERS.H] pending a news release. Emergence didn't trade at all today, because the halt was issued as of 6:04 AM PT, or 9:04 PM ET; it was in force as of the opening of trading. ERS.H last traded yesterday, closing at 36 cents/share for a gain of 2 cents/share on that day. Canjex Publishing has a webbed copy of the bulletin.
Three news items from NEX companies were sent out exclusively through Canjex today. The first release announced the filing of interim unaudited financial statements [PDF file] from Tapestry Resource Corp. [NEX: TPR.H] for the quarter ending July 31st. Tapestry had no income for this quarter, nor did it for the corresponding quarter last year. Expenses, of which $14,338 were for bank charges and interest, totaled $39,767 for this quarter, up from $34,362 from the same quarter of last year. An increase in the bank charges and interest accounted for all of the rise in expenses; the others stayed the same. Tapestry has $1,102 in cash, not including $3,000 in restricted cash listed on its balance sheet. Book value was -28.5 cents/share this quarter, down from -27.0 cents/share as of the corresponding quarter last year. The corresponding M D & A [another PDF file] discloses that Tapestry has had no revenue since (at least) FY 2005, and currently has a working capital deficiency of $730,673. It also states that "The Company’s continued existence as a going concern is dependent upon the continued support of related parties and its ability to raise adequate long-term financing." Tapestry traded only once today, right at the open, with an odd-lot trade of 100 shares at 52 cents/share. The last board-lot-sized trade was made on September 11th, at the closing price of 55 cents/share.
The second release comes from Golden Hat Resources Inc. [NEX: GHA.H], which was disseminated after the market closed. It announces the completion of a geochemical survey at the Telegraph Creek property. The samples gathered have been sent to the analytical company already contracted to analyze the samples, SGS Minerals Services. Golden Hat closed at 6 cents/share, down 0.5 cents/share as the result of a flurry of trades in the last half-hour of trading. It briefly reached 7 cents/share until a block of 120,000 shares, in three trades with Wolverton as the sell-side finincial institution, were made at 6 cents/share as of about 3:45 PM ET. Those three trades were the last of the day's seven in GHA.H.
The third and final release from Canjex today is another announcement of the filing of interim (unaudited) financial statements, from Tapango Resources Ltd. [NEX: TPA.H]; these were also released after the close of trading. The financials themselves [PDF file] show that Tapango, as of the second quarter of FY '08, despite having no revenue and a loss of $366,421 largely due to $312,000 in "stock-based compensation," is sitting on $491,321 in cash, with only $16,952 in current liabilities. (Total current assets for this most recent quarter are $503,685.) Book value is 0.737 cents/share, up from 0.708 cents/share as of the corresponding quarter last year (2Q FY '07.) Cash flow was $10,080, thanks to the issuance of $68,000 in stock as a result of the exercise of warrants, as explained in the M D & A [PDF file], where the interest income on the cash is also disclosed as part of "Interest and Other Income" ($6 ,743 for the most recent quarter.) Tapango intends to use the cash to acquire a resource property at some future date. The stock closed at 50 cents/share today, unchanged.
Despite two others trading exactly ten times today, there was only one NEX stock that traded more than ten times. Once again, Silvio Ventures Inc. [NEX: SIV.H] had the most numerous trades today, with twenty of them. Seven out of those twenty were board-lot sized; the other thirteen were odd lotters. The board lots went for prices ranging from 51 to 53 cents/share, and the odd lots went for prices ranging from 48 to 50 cents/share. The first odd-lot trades in SIV.H were for that 50 cents/share, and the first board lot went for 53 cents/share; at the end of the day, the last board lot went for 51 cents/share and the last odd lot went for 48 cents/share. The gap between board-lot and odd-lot price seems to be narrowing. SIV.H closed at 51 cents/share, down 2 cents/share from the previous day's close; its daily volume was 12,367 shares.
The top percentage gainer in today's trading was Trilogy Metals Inc. [NEX: TRI.H], which closed at 50 cents/share for a gain of 18.5 cents/share or 58.73%. Trilogy traded eight times today, although seven of the eight were within one minute of each other. The first trade, at about 11:06 AM ET, was for 4,000 shares at 40 cents/share. The other seven went at prices ranging from 42 cents/share to 50 cents/share; three of them went for the highest price. Six of those seven trades, comprising 21,000 shares, had an anonymous institution on the buy side, suggesting a bought block of that size or close to. The other trade, though, an odd-lotter of 400 shares at 47 cent/share, had Wolverton as the sell-side financial institution, and it was the sixth trade of the day. Total daily volume for Trilogy was 25,400 shares. Trilogy made spot #5 on the top-ten list of traders as measured by daily turnover of the float, found just below.
The top percentage decliner for today was Biomerge Industries Ltd. [NEX: BIL.H]. Its first trade since being listed on the NEX dropped the price from the pre-trade value of 2 cents/share to 1.5 cents/share, on volume of 2,000 shares at about 10:50 AM. This one trade, the only in BIL.H today, made for a 0.5 cent decline, or 25%.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
There was one news release from a NEX company that was picked up by Marketwire today. Rocher Deboule announced that it has applied for drilling permits for its Artillery Peak Manganese Project. If granted by the Bureau of Land Management (Mohave County, Arizona,) the drilling should start in mid-November, according to the release. Historical studies for the Chapin West Showings indicate that there are economic levels of manganese in Artillary Peak, although Rocher has no contemporary studies confirming it as of yet except for surface samples. "The historical resource for the Artillery Mountain manganese deposits is estimated at 175,000,000 tonnes averaging 3.5 - 4% Mn as reported in Manganese Deposits of Western Arizona 1958 Information Circular #7843 by (L.L. Farmham and L.A. Stewart). Approximately half of the deposits are on the Rocher Deboule Minerals Corp. claims." The news release itself has further details. As mentioned above, Rocher closed at 46 cents/share today, down 2 cents/share since yesterday's close. The release was disseminated a few hours before trading opened.
There was one bulletin from a NEX company in today's TSX Venture Daily Bulletins, found at the bottom. It announces a halt in the trading of Emergence Resort Canada Inc. [NEX: ERS.H] pending a news release. Emergence didn't trade at all today, because the halt was issued as of 6:04 AM PT, or 9:04 PM ET; it was in force as of the opening of trading. ERS.H last traded yesterday, closing at 36 cents/share for a gain of 2 cents/share on that day. Canjex Publishing has a webbed copy of the bulletin.
Three news items from NEX companies were sent out exclusively through Canjex today. The first release announced the filing of interim unaudited financial statements [PDF file] from Tapestry Resource Corp. [NEX: TPR.H] for the quarter ending July 31st. Tapestry had no income for this quarter, nor did it for the corresponding quarter last year. Expenses, of which $14,338 were for bank charges and interest, totaled $39,767 for this quarter, up from $34,362 from the same quarter of last year. An increase in the bank charges and interest accounted for all of the rise in expenses; the others stayed the same. Tapestry has $1,102 in cash, not including $3,000 in restricted cash listed on its balance sheet. Book value was -28.5 cents/share this quarter, down from -27.0 cents/share as of the corresponding quarter last year. The corresponding M D & A [another PDF file] discloses that Tapestry has had no revenue since (at least) FY 2005, and currently has a working capital deficiency of $730,673. It also states that "The Company’s continued existence as a going concern is dependent upon the continued support of related parties and its ability to raise adequate long-term financing." Tapestry traded only once today, right at the open, with an odd-lot trade of 100 shares at 52 cents/share. The last board-lot-sized trade was made on September 11th, at the closing price of 55 cents/share.
The second release comes from Golden Hat Resources Inc. [NEX: GHA.H], which was disseminated after the market closed. It announces the completion of a geochemical survey at the Telegraph Creek property. The samples gathered have been sent to the analytical company already contracted to analyze the samples, SGS Minerals Services. Golden Hat closed at 6 cents/share, down 0.5 cents/share as the result of a flurry of trades in the last half-hour of trading. It briefly reached 7 cents/share until a block of 120,000 shares, in three trades with Wolverton as the sell-side finincial institution, were made at 6 cents/share as of about 3:45 PM ET. Those three trades were the last of the day's seven in GHA.H.
The third and final release from Canjex today is another announcement of the filing of interim (unaudited) financial statements, from Tapango Resources Ltd. [NEX: TPA.H]; these were also released after the close of trading. The financials themselves [PDF file] show that Tapango, as of the second quarter of FY '08, despite having no revenue and a loss of $366,421 largely due to $312,000 in "stock-based compensation," is sitting on $491,321 in cash, with only $16,952 in current liabilities. (Total current assets for this most recent quarter are $503,685.) Book value is 0.737 cents/share, up from 0.708 cents/share as of the corresponding quarter last year (2Q FY '07.) Cash flow was $10,080, thanks to the issuance of $68,000 in stock as a result of the exercise of warrants, as explained in the M D & A [PDF file], where the interest income on the cash is also disclosed as part of "Interest and Other Income" ($6 ,743 for the most recent quarter.) Tapango intends to use the cash to acquire a resource property at some future date. The stock closed at 50 cents/share today, unchanged.
Despite two others trading exactly ten times today, there was only one NEX stock that traded more than ten times. Once again, Silvio Ventures Inc. [NEX: SIV.H] had the most numerous trades today, with twenty of them. Seven out of those twenty were board-lot sized; the other thirteen were odd lotters. The board lots went for prices ranging from 51 to 53 cents/share, and the odd lots went for prices ranging from 48 to 50 cents/share. The first odd-lot trades in SIV.H were for that 50 cents/share, and the first board lot went for 53 cents/share; at the end of the day, the last board lot went for 51 cents/share and the last odd lot went for 48 cents/share. The gap between board-lot and odd-lot price seems to be narrowing. SIV.H closed at 51 cents/share, down 2 cents/share from the previous day's close; its daily volume was 12,367 shares.
The top percentage gainer in today's trading was Trilogy Metals Inc. [NEX: TRI.H], which closed at 50 cents/share for a gain of 18.5 cents/share or 58.73%. Trilogy traded eight times today, although seven of the eight were within one minute of each other. The first trade, at about 11:06 AM ET, was for 4,000 shares at 40 cents/share. The other seven went at prices ranging from 42 cents/share to 50 cents/share; three of them went for the highest price. Six of those seven trades, comprising 21,000 shares, had an anonymous institution on the buy side, suggesting a bought block of that size or close to. The other trade, though, an odd-lotter of 400 shares at 47 cent/share, had Wolverton as the sell-side financial institution, and it was the sixth trade of the day. Total daily volume for Trilogy was 25,400 shares. Trilogy made spot #5 on the top-ten list of traders as measured by daily turnover of the float, found just below.
The top percentage decliner for today was Biomerge Industries Ltd. [NEX: BIL.H]. Its first trade since being listed on the NEX dropped the price from the pre-trade value of 2 cents/share to 1.5 cents/share, on volume of 2,000 shares at about 10:50 AM. This one trade, the only in BIL.H today, made for a 0.5 cent decline, or 25%.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Rose Marie Resources Ltd. [NEX: RSR.H] - 0.863% of total shares outstanding;
- Jalna Minerals Ltd. [NEX: JMA.H] - 0.847% of TSO;
- Gainey Resources Ltd. [NEX: GRD.H] - 0.558%;
- Toba Industries Ltd. [NEX: TBG.H] - 0.545%;
- Trilogy Metals Inc. [NEX: TRI.H] - 0.532%;
- Golden Hat Resources Inc. [NEX: GHA.H] - 0.523%;
- Arcland Resources Inc. [NEX: ADR.H] - 0.458%;
- MP Western Properties Inc. [NEX: MPW.H] - 0.415%;
- X-Tal Minerals Corp. [NEX: XMT.H] - 0.397%;
- Champlain Resources Inc. [NEX: CPL.H] - 0.370%.
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
Wednesday, September 26, 2007
September 26th NEX
In today's NEX trading, the Barrel's Bottom Composite index closed at 85.71, down 0.21 points or 0.244% from the previous day's close of 85.92. Despite the indication of a slight day-by-day drop just given, the BBC Index leapt up about six-tenths of a point right after the start of trading, thanks to a 2-cent opening climb in Abitibi Mining Corp. [NEX: ABB.H], another 2-cent opening gain in Emergence Resort Canada Inc. [NEX: ERS.H], a 5-cent leap in the price of Exchequer Resource Corp. [NEX: EXQ.H] and a 0.5-cent jump in Global Tree Technologies Inc. [NEX: GTT.H]. The last two didn't trade again for the rest of the day. Favourables outweighed unfavourables about ten minutes later.
For the rest of today's trading, except for secondary reactions to the overall trend, the BBCI went downwards. Every minute from 9:40 AM ET to 12:41 PM ET saw the index either staying at the same level or declining; it wasn't until the latter time that a slight reversal of the downward trend, lasting about 22 minutes, made an appearance. Abitibi itself added to the downdraft as of about 11:24 AM ET with a two-cent drop to its level as of yesterday's closing. 1:32 PM saw the BBCI slice through 86, the level at which it bottomed out more than fifty minutes earlier. Once again, the downdraft continued, not breaking until about four minutes preceding the last hour of trading.
For the next hour, a countertrend did develop, pushing the BBCI up towards close to positive territory for the day, but this climb vanished in the last four minutes of trading. Emergence dropped a cent, to close at 35 cents/share with a gain on the day of 1 cent/share, and Rocher Deboule [NEX: RD.H] dropped 2 cents/share, between 3:37 and 3:58 PM ET. Those two were the main decliners pushing the BBCI down in the last several minutes of trading to its closing level of 85.71. RD.H closed at 48 cents/share, up 3 cents/share on the day, and was the last-hour gainer that pushed the BBCI up somewhat in the late afternoon, overpowering two decliners.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
Thirty-four NEX stocks traded today, the same number as yesterday. Of today's 34, 10 advanced, 10 declined and 14 remained unchanged. There were 127 trades. The top trader in terms of raw volume was Toba Industries Ltd. [NEX: TBG.H] again, with 243,000 shares traded today in eleven trades. Toba narrowly beat Golden Hat Resources Inc. [NEX: GHA.H] for the top spot, by 2,000 shares. The other Barrel's Bottom report and the TSX Venture closing summary both named Toba as today's top trader in terms of value of shares traded, beating out Emergence for the top spot. Toba placed sixth on the top-ten list of volume traded divided by total shares outstanding, found below; Golden Hat placed fourth, and Emergence placed first.
There was one news release from a NEX company that was picked up by Marketwire today, just like yesterday. Today's sole release through Marketwire came from New Meridian Mining Corp. [NEX: NWM.H] and it announces a 3-for-1 consolidation of New Meridian shares. Unlike the typical consolidation, though, this one is accompanied by a change in symbol: New Meridian's new symbol will be NWC.H. NWM.H last traded on September 18th, when it closed at 12.5 cents/share.
The announcement of the NWM.H/NWC.H symbol change appears as the third of three bulletins from NEX companies at the bottom of today's TSX Venture Daily Bulletins. The other two come from Arcland Resources Inc. [NEX: ADR.H] and new NEX entrant Biomerge Industries Ltd. [NEX: BIL.H]. Arcland's bulletin announces a 3.2-million-share private placement, at 10.5 cents/share, with six anonymous placees. None of them were Arcland insiders or pros. $336,000 was raised. Arcland didn't trade today; its last close, on Sept. 21st, was at 15.5 cents/share. Canjex Publishing has a webbed copy of this bulletin. Biomerge's announces that it will be listed on the NEX starting tomorrow morning.
Four other news items were sent out through Canjex today. The first one came from Shaw Communications [TSX: SJR.A, SJR.B] and concerns Consolidated Global Cable Systems Inc. peripherally. Shaw's request to carry the USA Network was turned down by the CRTC. "The Canadian Radio-television and Telecommunications Commission turned down the application on Sept. 19, citing the need to protect Mystery TV, which airs three of the same programs." The bulk of the news release contains the President of Shaw's reaction to the decision as well as the particulars of it. GCH.H didn't trade today; its last board-lot trade took place on Sept. 13th, when it closed at 17 cents/share.
The second release comes from Exchequer, and it announces a $50,000 private placement of 454,545 units, containing one share and a purchase warrant with exercise price of 14 cents/share and life of 1 year, for 11 cents/share each. As noted above, Exchequer closed at 19 cents/share, up 5 cents/share, on one trade. The volume was 8,000 shares.
Another private placement is the subject of another brief news release from Gold Star Resources Corp. - specifically, the cancellation of one. The entrire text of the release reads: "Gold Star Resources Corp.'s brokered private placement with Northern Securities Inc. to raise up to $1.15-million on a best-efforts basis by way of a private placement units offering has been mutually cancelled." Gold Star's close on the NEX Board today left its share price unchanged: 15 cents/share, on volume of 60,000 shares.
The fourth and final release from Canjex today is another brief one, from Cierra Pacific Ventures Ltd. [NEX: CIZ.H]. The company has appointed Zeny Manalo to its board of directors, to replace former director David Bailey. Mr Bailey resigned; no reason (or any other information) about his resignation is given in the release. CIZ.H didn't trade today either; its last close, on Sept. 20th, was at 20 cents/share.
Two NEX stocks traded more than ten times today. The most numerous trader, with 18 trades today, is an increasingly familiar name in this category: Silvio Ventures Inc. [NEX: SIV.H]. Unlike yesterday, there were six board-lot-sized trades in SIV.H, and two with four-figure volumes: total volume cracked five digits at 10,396 shares. Except for the last one of 1,000 shares at 53 cents/share, as of about 3:44 PM, the board-lot trades all went for 52 cents/share today. The odd-lotters all went at 49 cents/share.
The second most numerous NEX trader today was Toba Industries, mentioned above as the number one in the raw-volume category. All but two of the 11 trades in Toba today were for five-figure volumes; all but one, of 12,500 shares at 11 cents/share as of about 10:35 AM ET, went at 11.5 cents/share. Six of the eleven were made between 3 PM ET and the closing.
The top percentage gainer in today's trading was the above-mentioned Exchequer Resource Corp, which closed with a gain of 5 cents/share or 35.71% on that one trade also mentioned above. The top percentage decliner for today was eReservation Systems Corp [NEX: RSS.H], which closed at 12 cents/share, for a drop of 3 cents/share or 20%. Six trades, over the space of a little less than an hour, pushed RSS.H down. Although these trades were made between about 1 PM ET and 1:53 PM ET, all six had Canaccord as the sell-side financial institution. Three of those trades were of board-lot size; three were odd-lotters. The volume was an unrounded 11,180 shares, suggesting that the trades weren't part of a single block.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
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
For the rest of today's trading, except for secondary reactions to the overall trend, the BBCI went downwards. Every minute from 9:40 AM ET to 12:41 PM ET saw the index either staying at the same level or declining; it wasn't until the latter time that a slight reversal of the downward trend, lasting about 22 minutes, made an appearance. Abitibi itself added to the downdraft as of about 11:24 AM ET with a two-cent drop to its level as of yesterday's closing. 1:32 PM saw the BBCI slice through 86, the level at which it bottomed out more than fifty minutes earlier. Once again, the downdraft continued, not breaking until about four minutes preceding the last hour of trading.
For the next hour, a countertrend did develop, pushing the BBCI up towards close to positive territory for the day, but this climb vanished in the last four minutes of trading. Emergence dropped a cent, to close at 35 cents/share with a gain on the day of 1 cent/share, and Rocher Deboule [NEX: RD.H] dropped 2 cents/share, between 3:37 and 3:58 PM ET. Those two were the main decliners pushing the BBCI down in the last several minutes of trading to its closing level of 85.71. RD.H closed at 48 cents/share, up 3 cents/share on the day, and was the last-hour gainer that pushed the BBCI up somewhat in the late afternoon, overpowering two decliners.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 86.54
- 11 AM: 86.37
- 12 PM: 86.17
- 1 PM: 86.05
- 2 PM: 85.85
- 3 PM: 85.77
- 4 PM/Close: 85.71
Thirty-four NEX stocks traded today, the same number as yesterday. Of today's 34, 10 advanced, 10 declined and 14 remained unchanged. There were 127 trades. The top trader in terms of raw volume was Toba Industries Ltd. [NEX: TBG.H] again, with 243,000 shares traded today in eleven trades. Toba narrowly beat Golden Hat Resources Inc. [NEX: GHA.H] for the top spot, by 2,000 shares. The other Barrel's Bottom report and the TSX Venture closing summary both named Toba as today's top trader in terms of value of shares traded, beating out Emergence for the top spot. Toba placed sixth on the top-ten list of volume traded divided by total shares outstanding, found below; Golden Hat placed fourth, and Emergence placed first.
There was one news release from a NEX company that was picked up by Marketwire today, just like yesterday. Today's sole release through Marketwire came from New Meridian Mining Corp. [NEX: NWM.H] and it announces a 3-for-1 consolidation of New Meridian shares. Unlike the typical consolidation, though, this one is accompanied by a change in symbol: New Meridian's new symbol will be NWC.H. NWM.H last traded on September 18th, when it closed at 12.5 cents/share.
The announcement of the NWM.H/NWC.H symbol change appears as the third of three bulletins from NEX companies at the bottom of today's TSX Venture Daily Bulletins. The other two come from Arcland Resources Inc. [NEX: ADR.H] and new NEX entrant Biomerge Industries Ltd. [NEX: BIL.H]. Arcland's bulletin announces a 3.2-million-share private placement, at 10.5 cents/share, with six anonymous placees. None of them were Arcland insiders or pros. $336,000 was raised. Arcland didn't trade today; its last close, on Sept. 21st, was at 15.5 cents/share. Canjex Publishing has a webbed copy of this bulletin. Biomerge's announces that it will be listed on the NEX starting tomorrow morning.
Four other news items were sent out through Canjex today. The first one came from Shaw Communications [TSX: SJR.A, SJR.B] and concerns Consolidated Global Cable Systems Inc. peripherally. Shaw's request to carry the USA Network was turned down by the CRTC. "The Canadian Radio-television and Telecommunications Commission turned down the application on Sept. 19, citing the need to protect Mystery TV, which airs three of the same programs." The bulk of the news release contains the President of Shaw's reaction to the decision as well as the particulars of it. GCH.H didn't trade today; its last board-lot trade took place on Sept. 13th, when it closed at 17 cents/share.
The second release comes from Exchequer, and it announces a $50,000 private placement of 454,545 units, containing one share and a purchase warrant with exercise price of 14 cents/share and life of 1 year, for 11 cents/share each. As noted above, Exchequer closed at 19 cents/share, up 5 cents/share, on one trade. The volume was 8,000 shares.
Another private placement is the subject of another brief news release from Gold Star Resources Corp. - specifically, the cancellation of one. The entrire text of the release reads: "Gold Star Resources Corp.'s brokered private placement with Northern Securities Inc. to raise up to $1.15-million on a best-efforts basis by way of a private placement units offering has been mutually cancelled." Gold Star's close on the NEX Board today left its share price unchanged: 15 cents/share, on volume of 60,000 shares.
The fourth and final release from Canjex today is another brief one, from Cierra Pacific Ventures Ltd. [NEX: CIZ.H]. The company has appointed Zeny Manalo to its board of directors, to replace former director David Bailey. Mr Bailey resigned; no reason (or any other information) about his resignation is given in the release. CIZ.H didn't trade today either; its last close, on Sept. 20th, was at 20 cents/share.
Two NEX stocks traded more than ten times today. The most numerous trader, with 18 trades today, is an increasingly familiar name in this category: Silvio Ventures Inc. [NEX: SIV.H]. Unlike yesterday, there were six board-lot-sized trades in SIV.H, and two with four-figure volumes: total volume cracked five digits at 10,396 shares. Except for the last one of 1,000 shares at 53 cents/share, as of about 3:44 PM, the board-lot trades all went for 52 cents/share today. The odd-lotters all went at 49 cents/share.
The second most numerous NEX trader today was Toba Industries, mentioned above as the number one in the raw-volume category. All but two of the 11 trades in Toba today were for five-figure volumes; all but one, of 12,500 shares at 11 cents/share as of about 10:35 AM ET, went at 11.5 cents/share. Six of the eleven were made between 3 PM ET and the closing.
The top percentage gainer in today's trading was the above-mentioned Exchequer Resource Corp, which closed with a gain of 5 cents/share or 35.71% on that one trade also mentioned above. The top percentage decliner for today was eReservation Systems Corp [NEX: RSS.H], which closed at 12 cents/share, for a drop of 3 cents/share or 20%. Six trades, over the space of a little less than an hour, pushed RSS.H down. Although these trades were made between about 1 PM ET and 1:53 PM ET, all six had Canaccord as the sell-side financial institution. Three of those trades were of board-lot size; three were odd-lotters. The volume was an unrounded 11,180 shares, suggesting that the trades weren't part of a single block.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Emergence Resort Canada Inc. [NEX: ERS.H] - 1.49% of total shares outstanding;
- Gold Star Resources Corp. [NEX: GXX.H] - 0.783% of TSO;
- Champlain Resources Inc. [NEX: CPL.H] - 0.759%;
- Golden Hat Resources Inc. [NEX: GHA.H] - 0.698%;
- Rose Marie Resources Ltd. [NEX: RSR.H] - 0.454%;
- Toba Industries Ltd. [NEX: TBG.H] - 0.444%;
- HTI Ventures Corp. [NEX: HTX.H] - 0.406%;
- Challenger Development Corp. [NEX: CDQ.H] - 0.241%;
- ITI World Investment Group Inc. class 'A' [NEX: IWI.H] - 0.175%;
- Electrohome Limited class 'X' voting [NEX: ELL.H] - 0.167%.
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
Tuesday, September 25, 2007
September 25th NEX
In today's NEX trading, the Barrel's Bottom Composite index closed at 85.92, down 0.82 points or 0.945% from the previous day's close of 86.74. Within a minute after the market opened, the BBC Index was down by about 0.18 points, thanks to a 1.5 cent/share drop in the price of Toba Industries Ltd. [NEX: TBG.H] and an opening drop in MP Western Properties Inc. [NEX: MPW.H] of 0.5 cents/share. A 2 cent/share drop in Prism Resources Inc. [NEX: PRS.H], about six minutes after the opening, shaved off another tenth of a point. Several other decliners, such as Rocher Deboule Minerals Corp. [NEX: RD.H] and The Goldfarb Corporation [NEX: GDF.H], added to the downturn by 11 AM ET. At that time, there were seven decliners and no advancers with three NEX stocks unchanged.
The decline tailed off after reaching about 87.08, just before 11:30 AM ET, and staying there until about 12:17 PM ET. A brief blip-up in the price of Monster Uranium Corp. [NEX: MU.H] was followed by more sustained recoveries in the prices of Rocher, which pushed the BBCI up to about 86.21 a little after 12:19 PM ET through a 3 cent/share rise, and Toba, which pushed the index up to about 86.26 a little after 12:22 PM ET through a 0.5 cent/share rise. This interday uptrend continued until about 1:38 PM, after which the BBCI fell until pulled back up to about 86.20 as of 2 PM ET. Another drift-up took place between 2 and 3 PM ET.
Unlike the norm for the NEX, the last hour saw a decline in the BBCI. It started after 3:48 PM ET with a 3-cent/share drop in the price of Rocher, which quickly turned into a 6 cent/share drop. Raystar Enterprises Ltd. [NEX: RST.H], through dropping 1.5 cents/share to close at 8.5 cents/share, also added to the last-minute drop of the BBCI to its closing value of 85.92.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
Thirty-four NEX stocks traded today. Of these, 7 advanced, 12 declined and 15 remained unchanged. There were 106 trades. The top trader in terms of raw volume was Toba Industries, with 210,000 shares traded today. The other Barrel's Bottom report and the TSX Venture closing summary both named Monster Uranium Corp. [NEX: MU.H] as today's top trader in terms of value of shares traded, as it was yesterday. Toba placed fourth on the top-ten list of volume traded divided by total shares outstanding, found below; Monster placed first.
There was one news release from a NEX company that was picked up by Marketwire. The release itself was sent out yesterday evening; it announced a new company coming to the NEX Board. Xillix Technologies Corp. has come out of receivership through a "Plan of Compromise and Arrangement," and has changed its name to Biomerge Industries Ltd. The news release mentions that Biomerge was going to be listed on the NEX as of tomorrow, under the symbol BIL.H, but a more up-to-date correctionary note from the same company gives two days from now as the starting date.
The only NEX company with a bulletin in today's TSX Venture Daily Bulletins was Rocher Deboule. It announced the filing of an option agreement, giving Rocher the right to earn a 90% interest in the Liard Mining Division. The option was granted in exchange for $300,000 cash and 500,000 common shares of Rocher to the vendors, David Heyman and Clive Brookes, who will retain a 1% net smelter royalty. Rocher has four years to pay, and has decided to issue all of the common shares during the first year but pay only $60,000 of the $300,000 within that timeframe. The end of the bulletin states "No Insider / Pro Group Participation." Rocher closed at 45 cents/share, down 5 cents/share on the day. Canjex Publishing has a webbed copy of the bulletin.
Three other news items were sent out through Canjex today. The first one, from SMC Ventures Inc. [NEX: SMV.H], announced the filing of a form that partially explains the 494,224 shares of SMV.H traded on September 14, which was noted in The Barrel's Bottom report covering that day. The document itself [PDF file] is a National Instrument 62-103 form, and it announces that W. Hugh Notman has added 200,000 shares to his owned and controlled holdings of 1,091,000 shares. The added 200,000 were bought "for investment purposes" according to item #6 of the form; it further says that "the offeror [meaning, Mr. Notman] may, in the ordinary course of its business, acquire additional securities of the Company for investment purposes." SMV.H had dropped 5 cents/share on that day, to close at 15 cents/share, and it looks like those 200,000 shares were bought up as part of a block of about 477,000 SMV shares that were sold through RBC. The dropped block did press the price down to 12.5 cents/share; one trade of 200,000 shares was made at that same price. Of course, concluding that the same trade was the one made by Mr. Notman is only a plausible guess. SMV.H closed at 14.5 cents/share today, unchanged because only three odd-lot trades (each at 12.5 cent/share) were made.
The second release was from Virtual China Travel Services Co. Ltd. [NEX: CTX.H]. It announced that CIBC World Markets Inc. will act as sponsor for the company to be listed on the regular Venture Exchange once its planned reverse takeover of Melco China Resorts is completed. In the words from the release, the "combined company resulting from the [reverse-takeover] transaction" will be sponsored. Virtual China was halted as of August 14th; its last close, as of August 9th, was at 6.5 cents/share.
The third release through Canjex, from eReservation Systems Corp [NEX: RSS.H], announced the appointment of two new directors to eReservation's board. Kevin Milledge and J. William Morton were approved at the Sept. 4th annual meeting; the former is a contractor and the latter is a geologist. RSS.H didn't trade today; its last close, as of Sept. 18th, was at 15 cents/share.
Two NEX stocks traded more than ten times today. The most numerous trader, with 19 trades today, was the same issue that was most-numerous two days ago and second-most yesterday: Silvio Ventures Inc. [NEX: SIV.H]. All of the trades in SIV.H, except for one of 500 shares at 51 cents/share at about 10:32 AM ET, were of odd-lot size. Those other eighteen trades went for prices ranging from 48 to 49 cents/share, and for volumes ranging from 12 to 420 shares. Thus, despite Silvio being the most numerous trader for today, its daily volume was not even in the top ten: 2,656 shares.
The second most numerous NEX trader today was the above-mentioned Rocher Deboule, whose gyrations were sketched out at the beginning of this report as influences on the BBCI. The first trade in RD.H, as of about 10:56 AM ET, was for 2,000 shares at 48 cents/share. It was not followed by another one until about 12:19 PM ET, when three trades were made at the same time. All three of them, with volume totalling 10,000 shares, had TD Securities as the buy-side financial institution; the last of the three, for 4,500 shares, went at 51 cents/share. By that point, Rocher didn't trade for more than two hours, until one of 7,500 shares at 50 cents/share at about 2:51 PM ET. Another period of quiescence was followed by 12 trades made within four minutes of each other, in the last fifteen minutes of trading. The price, as indicated above, dropped quickly to the daily low of 44 cents/share (excluding an odd lot of 143 shares at 42 cents/share) before closing at 45 cents/share on the sevententh trade of the day.
The top percentage gainer in todays trading was Emergence Resort Canada Inc. [NEX: ERS.H], which closed at 34 cents/share for a gain of 4 cents/share or 13.33% on the day. Three trades put Emergence in the top-gainer slot: one of 2,000 shares at 32 cents/share, one of 3,500 at 33 cent/share and one of 8,000 shares at the closing price of 34 cents/share - in that (chronological) order.
The top percentage decliner for today was Dorato Resources Inc. [NEX: DVC.H], which closed at 67 cents/share for a drop of 21 cents/share or 21.18% on the day. Two trades totalling 3,300 shares at the same time, one of odd lot size, pushed the price down. Both of these trades had TD Securities on the buy side and CIBC on the sell side.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
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
The decline tailed off after reaching about 87.08, just before 11:30 AM ET, and staying there until about 12:17 PM ET. A brief blip-up in the price of Monster Uranium Corp. [NEX: MU.H] was followed by more sustained recoveries in the prices of Rocher, which pushed the BBCI up to about 86.21 a little after 12:19 PM ET through a 3 cent/share rise, and Toba, which pushed the index up to about 86.26 a little after 12:22 PM ET through a 0.5 cent/share rise. This interday uptrend continued until about 1:38 PM, after which the BBCI fell until pulled back up to about 86.20 as of 2 PM ET. Another drift-up took place between 2 and 3 PM ET.
Unlike the norm for the NEX, the last hour saw a decline in the BBCI. It started after 3:48 PM ET with a 3-cent/share drop in the price of Rocher, which quickly turned into a 6 cent/share drop. Raystar Enterprises Ltd. [NEX: RST.H], through dropping 1.5 cents/share to close at 8.5 cents/share, also added to the last-minute drop of the BBCI to its closing value of 85.92.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 86.46
- 11 AM: 86.13
- 12 PM: 86.08
- 1 PM: 86.26
- 2 PM: 86.20
- 3 PM: 86.20
- 4 PM/Close: 85.92
Thirty-four NEX stocks traded today. Of these, 7 advanced, 12 declined and 15 remained unchanged. There were 106 trades. The top trader in terms of raw volume was Toba Industries, with 210,000 shares traded today. The other Barrel's Bottom report and the TSX Venture closing summary both named Monster Uranium Corp. [NEX: MU.H] as today's top trader in terms of value of shares traded, as it was yesterday. Toba placed fourth on the top-ten list of volume traded divided by total shares outstanding, found below; Monster placed first.
There was one news release from a NEX company that was picked up by Marketwire. The release itself was sent out yesterday evening; it announced a new company coming to the NEX Board. Xillix Technologies Corp. has come out of receivership through a "Plan of Compromise and Arrangement," and has changed its name to Biomerge Industries Ltd. The news release mentions that Biomerge was going to be listed on the NEX as of tomorrow, under the symbol BIL.H, but a more up-to-date correctionary note from the same company gives two days from now as the starting date.
The only NEX company with a bulletin in today's TSX Venture Daily Bulletins was Rocher Deboule. It announced the filing of an option agreement, giving Rocher the right to earn a 90% interest in the Liard Mining Division. The option was granted in exchange for $300,000 cash and 500,000 common shares of Rocher to the vendors, David Heyman and Clive Brookes, who will retain a 1% net smelter royalty. Rocher has four years to pay, and has decided to issue all of the common shares during the first year but pay only $60,000 of the $300,000 within that timeframe. The end of the bulletin states "No Insider / Pro Group Participation." Rocher closed at 45 cents/share, down 5 cents/share on the day. Canjex Publishing has a webbed copy of the bulletin.
Three other news items were sent out through Canjex today. The first one, from SMC Ventures Inc. [NEX: SMV.H], announced the filing of a form that partially explains the 494,224 shares of SMV.H traded on September 14, which was noted in The Barrel's Bottom report covering that day. The document itself [PDF file] is a National Instrument 62-103 form, and it announces that W. Hugh Notman has added 200,000 shares to his owned and controlled holdings of 1,091,000 shares. The added 200,000 were bought "for investment purposes" according to item #6 of the form; it further says that "the offeror [meaning, Mr. Notman] may, in the ordinary course of its business, acquire additional securities of the Company for investment purposes." SMV.H had dropped 5 cents/share on that day, to close at 15 cents/share, and it looks like those 200,000 shares were bought up as part of a block of about 477,000 SMV shares that were sold through RBC. The dropped block did press the price down to 12.5 cents/share; one trade of 200,000 shares was made at that same price. Of course, concluding that the same trade was the one made by Mr. Notman is only a plausible guess. SMV.H closed at 14.5 cents/share today, unchanged because only three odd-lot trades (each at 12.5 cent/share) were made.
The second release was from Virtual China Travel Services Co. Ltd. [NEX: CTX.H]. It announced that CIBC World Markets Inc. will act as sponsor for the company to be listed on the regular Venture Exchange once its planned reverse takeover of Melco China Resorts is completed. In the words from the release, the "combined company resulting from the [reverse-takeover] transaction" will be sponsored. Virtual China was halted as of August 14th; its last close, as of August 9th, was at 6.5 cents/share.
The third release through Canjex, from eReservation Systems Corp [NEX: RSS.H], announced the appointment of two new directors to eReservation's board. Kevin Milledge and J. William Morton were approved at the Sept. 4th annual meeting; the former is a contractor and the latter is a geologist. RSS.H didn't trade today; its last close, as of Sept. 18th, was at 15 cents/share.
Two NEX stocks traded more than ten times today. The most numerous trader, with 19 trades today, was the same issue that was most-numerous two days ago and second-most yesterday: Silvio Ventures Inc. [NEX: SIV.H]. All of the trades in SIV.H, except for one of 500 shares at 51 cents/share at about 10:32 AM ET, were of odd-lot size. Those other eighteen trades went for prices ranging from 48 to 49 cents/share, and for volumes ranging from 12 to 420 shares. Thus, despite Silvio being the most numerous trader for today, its daily volume was not even in the top ten: 2,656 shares.
The second most numerous NEX trader today was the above-mentioned Rocher Deboule, whose gyrations were sketched out at the beginning of this report as influences on the BBCI. The first trade in RD.H, as of about 10:56 AM ET, was for 2,000 shares at 48 cents/share. It was not followed by another one until about 12:19 PM ET, when three trades were made at the same time. All three of them, with volume totalling 10,000 shares, had TD Securities as the buy-side financial institution; the last of the three, for 4,500 shares, went at 51 cents/share. By that point, Rocher didn't trade for more than two hours, until one of 7,500 shares at 50 cents/share at about 2:51 PM ET. Another period of quiescence was followed by 12 trades made within four minutes of each other, in the last fifteen minutes of trading. The price, as indicated above, dropped quickly to the daily low of 44 cents/share (excluding an odd lot of 143 shares at 42 cents/share) before closing at 45 cents/share on the sevententh trade of the day.
The top percentage gainer in todays trading was Emergence Resort Canada Inc. [NEX: ERS.H], which closed at 34 cents/share for a gain of 4 cents/share or 13.33% on the day. Three trades put Emergence in the top-gainer slot: one of 2,000 shares at 32 cents/share, one of 3,500 at 33 cent/share and one of 8,000 shares at the closing price of 34 cents/share - in that (chronological) order.
The top percentage decliner for today was Dorato Resources Inc. [NEX: DVC.H], which closed at 67 cents/share for a drop of 21 cents/share or 21.18% on the day. Two trades totalling 3,300 shares at the same time, one of odd lot size, pushed the price down. Both of these trades had TD Securities on the buy side and CIBC on the sell side.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Monster Uranium Corp. [NEX: MU.H] - 1.04% of total shares outstanding;
- Rose Marie Resources Ltd. [NEX: RSR.H] - 0.898% of TSO;
- Trilogy Metals Inc. [NEX: TRI.H] - 0.408%;
- Toba Industries Ltd. [NEX: TBG.H] - 0.383%;
- Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.378%;
- Landmark Global Financial Corporation [NEX: LST.H] - 0.376%;
- Emergence Resort Canada Inc. [NEX: ERS.H] - 0.319%;
- Focus Ventures Ltd. [NEX: FCV.H] - 0.294%;
- Guildhall Minerals Ltd [NEX: GDM.H] - 0.171%;
- Electrohome Limited class 'X' voting [NEX: ELL.H] - 0.167%.
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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Monday, September 24, 2007
September 24th NEX
In today's NEX trading, the Barrel's Bottom Composite index closed at 86.74, up 0.81 points or 0.943% from the previous day's close of 85.93. Despite that strong gain, the BBC Index was in solidly negative territory for most of the trading day, starting in early morning trading. A further decline in Silvio Ventures Inc. [NEX: SIV.H] in the opening half-hour of trading, and a smaller decline in Rocher Deboule Minerals Corp. [NEX: RD.H], helped push the BBCI down to a more-than-half-point loss by mid-morning. A plummet in Devin Energy Corporation [NEX: DVC.H] at about 11:45 AM ET, on its only trade of the day, pushed the index to slightly above 85.
Things began turning around by early afternoon, thanks to a post-10 AM ET gain in Lomiko Resources Inc. [NEX: LMR.H] and a gain on the first trade of Surge Resources Inc. [NEX: SRH.H] at about 12:18 PM ET. Later in the afternoon, Monster Uranium Corp. [NEX: MU.H] started trading with a 3-cent/share gain as of its first trade at about 1:03 PM ET. This gain turned into a leap: as of about 3 PM ET, MU.H was up 14 cents/share from Friday's close. It failed to hold at the end of trading, though, and MU.H closed at 50 cents/share for a 5 cent/share gain on the day. The index was pulled up more than three-quarters of a point in the last hour of trading due to several last-hour gainers, such as Newstrike Capital Inc. [NEX: NES.H] which helped push the BBCI briefly above 87 until Monster's leap dwindled. Newstrike opened with a gain of ten cents/share, on its only two trades of the day (one odd-lot sized), and closed at $1.15/share. Toba Industries Ltd. [NEX: TBG.H] also made a gain in the last hour, of 1.5 cents/share; it closed at 13.5 cents/share, up that same 1.5 cents since Friday's close.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
Thirty-three NEX stocks traded today. Of these, 11 advanced, 10 declined and 12 remained unchanged. There were 127 trades. Two top traders in terms of raw volume made for a tie in this category today. The first of the two was Gold Star Resources Corp. [NEX: GXX.H] and the second was 222 Pizza Express Corp. [NEX: PIZ.H]. Both issues traded 100,000 shares today; Gold Star closed at 15 cents/share, down 5 cents/share on the day, and 222 Pizza closed at 1.5 cents/share, up 0.5 cents/share on the day.
As far as value of shares traded is concerned, the other Barrel's Bottom report and the TSX Venture closing summary both put Monster Uranium Corp. [NEX: MU.H] on top. Monster was the close runner-up in the raw-volume category, with 95,000 shares traded today. Gold Star placed third on the top-ten list of volume traded divided by total shares outstanding, found below, and 222 Pizza placed sixth; Monster placed seventh.
There was one news release from a NEX company that was picked up by Marketwire today. Rocher Deboule sent out, at 6 AM ET, an announcement about the completion of a nine-hole drilling program in its Highland Boy property near Hazelton, B.C. Although the press release has a thorough background on what has gotten Rocher spending money on the property, it also mentions that no results have come from the nine holes drilled on Highland Boy land. The bottom of the release also mentions that a new director has been appointed to the board: Paul Hildebrand, an experienced attorney. This was all the news from Marketwire, as no NEX companies were included in today's TSX Venture Daily Bulletins. Rocher closed at 50 cents/share, down 3 cents/share since Friday's close
One company may be in the Bulletins soon, according to one of five news releases sent out through Canjex Publishing today. As of about 3:37 PM ET, International Silver Ridge Resources Inc. [NEX: ISG.H] anounced that it has, through filing up-to-date financial statements, gotten the two cease-trading orders against it lifted. According to the end of the report, it intends to apply for reinstatement to the NEX board now that the CTOs have been rescinded. The bulk of the report outlines management personnel, what the company owns, and its working-capital situation. It has nine claims in B.C. near Silverton, known collectively as the "Standard claim group," and will commence exploration on them soon. Unusually for an exploration company, Silver Ridge also owns a small specialty mill that has done some custom millwork for mines in that area. No revenues have come in recently, though. Its working capital needs are currently met with loans, mostly from directors, which won't come due until ISG.H starts trading again. More loans are needed to keep the company afloat, includingfor spending on a Standard-claim-group exploration effort. The company has budgeted no more than $50,000 for that effort.
The second Canjex release, as of about 5 PM ET, was from MCO Capital Inc. [NEX: MCO.H], announcing the filing of its interim (unaudited) financial statements for the most recent quarter. According to its financial statements [PDF file], MCO had no revenue for the third quarter of FY '07, nor has it since the first quarter of '06. Net loss grew as compared with the third quarter of '06, as a result of increased spending on professional fees; book value has dropped to -1.45 cents/share from -0.33 cents/share as of 3Q '06. Spending on those fees, though, declined slightly in the three quarters of FY '07 as compared with the first three quarters of FY '06. A $70,000 advance from its parent company, $40,000 of which was advanced in the third quarter, kept the cash on hand from shrinking to below zero this year. The M D & A [another PDF file] explains that cash was also used "mainly [for] the payment of accounts payable and accrued liabilities." Also mentioned is the fact that the $70,000 worth of advances have been more than balanced off by repayment of $78,004. Nevertheless, the M D & A ends with, "Board members and officers are currently considering various alternatives in regards to the Company’s future"... right before a disclosure of an outstanding lawsuit in the amount of $776,799 which relates to MCOs former activities as Matco-Ravary. MCO.H last traded on July 12th, and closed at 37 cents/share.
The other three press releases sent out today are more straighforward. A reverse-takeover update, sent out by SBI Skin Biology Inc. [NEX: SBI.H] at 1:53 PM ET, is entitled "SBI Skin Biology has no news." Its full text reads, "In compliance with TSX Venture Exchange Policy 5.2, there are no material developments in the previously announced reverse takeover by Dynasty Metals & Mining Inc." The next one, released at 6:46 PM ET, does contain some news, although not of the best sort. Gold Star Resources Corp. [NEX: GXX.H] announced that a $200,000 private placement has been cancelled by the company, because GXX.H has fallen significantly below the negotiated placement price of 25 cents/share. Today's close was 15 cents/share, down 5 cents/share on the above-mentioned volume of 100,000 shares, matching Gold Star's 52-week low. The last release, as of 7:46 PM ET, is from Exchequer Resource Corp. [NEX: EXQ.H], announcing that the company has granted 500,000 "incentive" options with strike price of 11 cents/share and five-year life. EXQ.H didn't trade today; its last close was at 14 cents/share on August 11th. Trading in SBI remains halted.
Three NEX stocks traded more than ten times today. Placing first in numerousness of trades was Monster Uranium, mentioned above as a heavy trader and strong gainer, which traded 16 times today. Within a half an hour after its first trade of 4500 shares at 47 cents/share, MU.H had touched 53 cents/share but backtracked to 47 cents/share. It didn't trade again until about 2:30 PM ET. Once active again, though, it shot up quickly to reach 59 cents/share as of about that same time, and hit 60 cents/share as of 3:21 PM ET. The next two trades, the last two of the day, both went for 50 cents/share, though. Those last two, of 10,000 and 5,000 shares each, seem to be part of a sold block of 15,000 shares as they both were made at exactly the same time and Haywood was the sell-side financial institution for both.
The second-most-numerous NEX trader today was Friday's first placer: Silvio Ventures Inc. [NEX: SIV.H] with 14 trades today, although half of them were odd lots. The decline in SIV.H continued on its second day of resumed trading: the first trade of the day, of 3,000 shares as of about 9:42 AM ET, went for 46.5 cents/share, as did the next one of 1,000 shares made about five minutes later. This price was the lowest of the day for board-lot trades, although five odd lotters were made at 44.5 cents/share. Those five were trades #3 through #7 of the day; they all had the same buy-side financial institution, PI Securities, as did the eighth of 120 shares at 45 cents/share. A total of 920 shares were bought through PI, all odd-lot sized, at what would be the low price of the day had any of those six trades been of board-lot size. Afterwards, the price did pick up somewhat, reaching 51 cents/share on one board lot's worth of SIV.H at 1:47 PM ET. Silvio closed at that same 51 cents/share, down 9 cents/share since yesterday's close.
The third-most-numerous trader, and final one to trade more than 10 times today, was Emergence Resort Canada Inc. [NEX: ERS.H]. Emergence didn't trade at all until about 12:17 PM ET when it opened at 27 cents/share on a volume of 8,000 shares. This opening dip failed to hold, though: by about 2:43 PM ET, five trades went 33 to 35 cents/share. These five had National Bank as the buy-side financial institution, suggesting that all five trades were part of a bought block. The trade after those five, the second-last of the day, was also done though National Bank on the buy side. All of those six trades added up to 50,000 shares. The final trade of 3,500 shares, though, went through at 30 cents/share. That was Emergence's closing price, for a gain of 1 cent/share on the day. Emergence placed first on the top-ten daily-turnover list, found below.
The top percentage gainer in todays trading was 222 Pizza Express Corp. [NEX: PIZ.H], mentioned above as the stock that co-held the most active by raw volume designation with Gold Star. PIZ.H gained 0.5 cents/share, or 50% on the day, on only one trade as of about 3:49 PM ET. This single trade was for the entire volume of 100,000 shares.
The top percentage decliner for today was Devin Energy Corporation [NEX: DVC.H], also mentioned above as one of the stocks that dragged down the Barrel's Bottom Composite Index. DVC.H closed at 60 cents/share, down 21 cents/share or 25.93% on the day. One trade of 1,500 shares, at the above-mentioned time of about 11:46 AM ET, did it.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
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
Things began turning around by early afternoon, thanks to a post-10 AM ET gain in Lomiko Resources Inc. [NEX: LMR.H] and a gain on the first trade of Surge Resources Inc. [NEX: SRH.H] at about 12:18 PM ET. Later in the afternoon, Monster Uranium Corp. [NEX: MU.H] started trading with a 3-cent/share gain as of its first trade at about 1:03 PM ET. This gain turned into a leap: as of about 3 PM ET, MU.H was up 14 cents/share from Friday's close. It failed to hold at the end of trading, though, and MU.H closed at 50 cents/share for a 5 cent/share gain on the day. The index was pulled up more than three-quarters of a point in the last hour of trading due to several last-hour gainers, such as Newstrike Capital Inc. [NEX: NES.H] which helped push the BBCI briefly above 87 until Monster's leap dwindled. Newstrike opened with a gain of ten cents/share, on its only two trades of the day (one odd-lot sized), and closed at $1.15/share. Toba Industries Ltd. [NEX: TBG.H] also made a gain in the last hour, of 1.5 cents/share; it closed at 13.5 cents/share, up that same 1.5 cents since Friday's close.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 85.54
- 11 AM: 85.50
- 12 PM: 85.06
- 1 PM: 85.30
- 2 PM: 85.38
- 3 PM: 85.90
- 4 PM/Close: 86.74
Thirty-three NEX stocks traded today. Of these, 11 advanced, 10 declined and 12 remained unchanged. There were 127 trades. Two top traders in terms of raw volume made for a tie in this category today. The first of the two was Gold Star Resources Corp. [NEX: GXX.H] and the second was 222 Pizza Express Corp. [NEX: PIZ.H]. Both issues traded 100,000 shares today; Gold Star closed at 15 cents/share, down 5 cents/share on the day, and 222 Pizza closed at 1.5 cents/share, up 0.5 cents/share on the day.
As far as value of shares traded is concerned, the other Barrel's Bottom report and the TSX Venture closing summary both put Monster Uranium Corp. [NEX: MU.H] on top. Monster was the close runner-up in the raw-volume category, with 95,000 shares traded today. Gold Star placed third on the top-ten list of volume traded divided by total shares outstanding, found below, and 222 Pizza placed sixth; Monster placed seventh.
There was one news release from a NEX company that was picked up by Marketwire today. Rocher Deboule sent out, at 6 AM ET, an announcement about the completion of a nine-hole drilling program in its Highland Boy property near Hazelton, B.C. Although the press release has a thorough background on what has gotten Rocher spending money on the property, it also mentions that no results have come from the nine holes drilled on Highland Boy land. The bottom of the release also mentions that a new director has been appointed to the board: Paul Hildebrand, an experienced attorney. This was all the news from Marketwire, as no NEX companies were included in today's TSX Venture Daily Bulletins. Rocher closed at 50 cents/share, down 3 cents/share since Friday's close
One company may be in the Bulletins soon, according to one of five news releases sent out through Canjex Publishing today. As of about 3:37 PM ET, International Silver Ridge Resources Inc. [NEX: ISG.H] anounced that it has, through filing up-to-date financial statements, gotten the two cease-trading orders against it lifted. According to the end of the report, it intends to apply for reinstatement to the NEX board now that the CTOs have been rescinded. The bulk of the report outlines management personnel, what the company owns, and its working-capital situation. It has nine claims in B.C. near Silverton, known collectively as the "Standard claim group," and will commence exploration on them soon. Unusually for an exploration company, Silver Ridge also owns a small specialty mill that has done some custom millwork for mines in that area. No revenues have come in recently, though. Its working capital needs are currently met with loans, mostly from directors, which won't come due until ISG.H starts trading again. More loans are needed to keep the company afloat, includingfor spending on a Standard-claim-group exploration effort. The company has budgeted no more than $50,000 for that effort.
The second Canjex release, as of about 5 PM ET, was from MCO Capital Inc. [NEX: MCO.H], announcing the filing of its interim (unaudited) financial statements for the most recent quarter. According to its financial statements [PDF file], MCO had no revenue for the third quarter of FY '07, nor has it since the first quarter of '06. Net loss grew as compared with the third quarter of '06, as a result of increased spending on professional fees; book value has dropped to -1.45 cents/share from -0.33 cents/share as of 3Q '06. Spending on those fees, though, declined slightly in the three quarters of FY '07 as compared with the first three quarters of FY '06. A $70,000 advance from its parent company, $40,000 of which was advanced in the third quarter, kept the cash on hand from shrinking to below zero this year. The M D & A [another PDF file] explains that cash was also used "mainly [for] the payment of accounts payable and accrued liabilities." Also mentioned is the fact that the $70,000 worth of advances have been more than balanced off by repayment of $78,004. Nevertheless, the M D & A ends with, "Board members and officers are currently considering various alternatives in regards to the Company’s future"... right before a disclosure of an outstanding lawsuit in the amount of $776,799 which relates to MCOs former activities as Matco-Ravary. MCO.H last traded on July 12th, and closed at 37 cents/share.
The other three press releases sent out today are more straighforward. A reverse-takeover update, sent out by SBI Skin Biology Inc. [NEX: SBI.H] at 1:53 PM ET, is entitled "SBI Skin Biology has no news." Its full text reads, "In compliance with TSX Venture Exchange Policy 5.2, there are no material developments in the previously announced reverse takeover by Dynasty Metals & Mining Inc." The next one, released at 6:46 PM ET, does contain some news, although not of the best sort. Gold Star Resources Corp. [NEX: GXX.H] announced that a $200,000 private placement has been cancelled by the company, because GXX.H has fallen significantly below the negotiated placement price of 25 cents/share. Today's close was 15 cents/share, down 5 cents/share on the above-mentioned volume of 100,000 shares, matching Gold Star's 52-week low. The last release, as of 7:46 PM ET, is from Exchequer Resource Corp. [NEX: EXQ.H], announcing that the company has granted 500,000 "incentive" options with strike price of 11 cents/share and five-year life. EXQ.H didn't trade today; its last close was at 14 cents/share on August 11th. Trading in SBI remains halted.
Three NEX stocks traded more than ten times today. Placing first in numerousness of trades was Monster Uranium, mentioned above as a heavy trader and strong gainer, which traded 16 times today. Within a half an hour after its first trade of 4500 shares at 47 cents/share, MU.H had touched 53 cents/share but backtracked to 47 cents/share. It didn't trade again until about 2:30 PM ET. Once active again, though, it shot up quickly to reach 59 cents/share as of about that same time, and hit 60 cents/share as of 3:21 PM ET. The next two trades, the last two of the day, both went for 50 cents/share, though. Those last two, of 10,000 and 5,000 shares each, seem to be part of a sold block of 15,000 shares as they both were made at exactly the same time and Haywood was the sell-side financial institution for both.
The second-most-numerous NEX trader today was Friday's first placer: Silvio Ventures Inc. [NEX: SIV.H] with 14 trades today, although half of them were odd lots. The decline in SIV.H continued on its second day of resumed trading: the first trade of the day, of 3,000 shares as of about 9:42 AM ET, went for 46.5 cents/share, as did the next one of 1,000 shares made about five minutes later. This price was the lowest of the day for board-lot trades, although five odd lotters were made at 44.5 cents/share. Those five were trades #3 through #7 of the day; they all had the same buy-side financial institution, PI Securities, as did the eighth of 120 shares at 45 cents/share. A total of 920 shares were bought through PI, all odd-lot sized, at what would be the low price of the day had any of those six trades been of board-lot size. Afterwards, the price did pick up somewhat, reaching 51 cents/share on one board lot's worth of SIV.H at 1:47 PM ET. Silvio closed at that same 51 cents/share, down 9 cents/share since yesterday's close.
The third-most-numerous trader, and final one to trade more than 10 times today, was Emergence Resort Canada Inc. [NEX: ERS.H]. Emergence didn't trade at all until about 12:17 PM ET when it opened at 27 cents/share on a volume of 8,000 shares. This opening dip failed to hold, though: by about 2:43 PM ET, five trades went 33 to 35 cents/share. These five had National Bank as the buy-side financial institution, suggesting that all five trades were part of a bought block. The trade after those five, the second-last of the day, was also done though National Bank on the buy side. All of those six trades added up to 50,000 shares. The final trade of 3,500 shares, though, went through at 30 cents/share. That was Emergence's closing price, for a gain of 1 cent/share on the day. Emergence placed first on the top-ten daily-turnover list, found below.
The top percentage gainer in todays trading was 222 Pizza Express Corp. [NEX: PIZ.H], mentioned above as the stock that co-held the most active by raw volume designation with Gold Star. PIZ.H gained 0.5 cents/share, or 50% on the day, on only one trade as of about 3:49 PM ET. This single trade was for the entire volume of 100,000 shares.
The top percentage decliner for today was Devin Energy Corporation [NEX: DVC.H], also mentioned above as one of the stocks that dragged down the Barrel's Bottom Composite Index. DVC.H closed at 60 cents/share, down 21 cents/share or 25.93% on the day. One trade of 1,500 shares, at the above-mentioned time of about 11:46 AM ET, did it.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Emergence Resort Canada Inc. [NEX: ERS.H] - 1.69% of total shares outstanding;
- Magnate Ventures Inc. [NEX: MGV.H] - 1.43% of TSO;
- Gold Star Resources Corp. [NEX: GXX.H] - 1.31%;
- Rose Marie Resources Ltd. [NEX: RSR.H] - 1.17%;
- Lomiko Resources Inc. [NEX: LMR.H] - 0.747%;
- 222 Pizza Express Corp. [NEX: PIZ.H] - 0.667%;
- Monster Uranium Corp. [NEX: MU.H] - 0.549%;
- Consolidated Westview Resource Corp. [NEX: CWS.H] - 0.481%;
- International LMM Ventures Corp. [NEX: LMM.H] - 0.234%;
- Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.229%.
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
Redaction Notice
After writing another bot to help me out with these reports, I came across a minor error in the calculation of the Barrel's Bottom Composite Index, due to an inaccurate total in the total shares outstanding for one NEX stock. As a result, the BBCI values for last Wednesday to Friday were overstated by 0.01 points.
I've corrected the erroneous figures in those reports. The difference is sufficiently minor that there's no pressing need to change the graphs. For all days except Wednesday, the point change was the same and the percentage change nearly so. For Wednesday, the point drop was understated by 0.01 points, which changed the day's decline significantly. As a result, I've put one of those notes on the top of Wednesday's report but not the others.
I've corrected the erroneous figures in those reports. The difference is sufficiently minor that there's no pressing need to change the graphs. For all days except Wednesday, the point change was the same and the percentage change nearly so. For Wednesday, the point drop was understated by 0.01 points, which changed the day's decline significantly. As a result, I've put one of those notes on the top of Wednesday's report but not the others.
Friday, September 21, 2007
September 21th NEX
In Friday's NEX trading, the Barrel's Bottom Composite index closed at 85.93, down 0.30 points or 0.348% from the previous day's close of 86.23. The BBC Index opened slightly lower, despite opening gains in Arcland Resources Inc. [NEX: ADR.H] and Greenshield Explorations Limited [NEX: GRX.H], because several other issues opened with declines; a few of them were significant ones. The loss was replaced by a gain, which became sizable at about 11:33 AM, thanks in part to a 4 cent/share opening gain of in ITI World Investment Group Inc. class 'A' [NEX: IWI.H] and a 5 cent/share gain in Maximum Ventures Inc. [NEX: MVI.H].
The stock that opened with the largest decline had no effect on the BBCI until about 11:46 AM. This was the first day in more than four months that Silvio Ventures Inc. had traded, and its price was down sharply from the get-go. Almost all of its trades on Friday were for odd-lot sized volumes, although many of them would have qualified for board lot status if the price of SIV.H had stayed above a dollar per share. The first trade, though, was for 61 cents/share, making Silvio a stock for which a board lot is 500 shares. Thus, despite lots of activity in SIV.H on the NEX early Friday morning, the plummet in the stock didn't drop the BBCI until the first board-lot-sized trade was made - the twenty-ninth trade in SIV.H of the day. Silvio closed at 60 cents/share, down 56 cents/share on the day. Arcland closed at 15.5 cents/share, up 1.5 cents/share, and Greenshield closed at 36 cents/share for a gain of 6 cents/share since Thursday's close.
Subsequent to the Silvio thud, the BBC Index slowly climbed upwards until the last hour of trading, when the recovery gained speed. A rise in Datinvest International Ltd. [NEX: DAI.H] during that last hour, plus a lesser gain in Monster Uranium Corp. [NEX: MU.H] in the last half-hour, helped the Barrel's Bottom Composite move from the pre-noon thud to a slight loss on the day at 85.93 for the week's close.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
Thirty-five NEX stocks traded on Friday. Of these, 11 advanced, 10 declined and 14 remained unchanged. There were 133 trades. The top trader in terms of raw volume was, yet again, Rose Marie Resources Ltd. [NEX: RSR.H], which closed at 11 cents/share for a loss of 0.5 cents/share on a much-lessened 150,000-share volume. There were only four trades in RSR.H on Friday, and all of them had "Anonymous" as the sell-side financial institution. Rose Marie was a close runner-up for the top spot in terms of value of shares traded, according to the other Barrel's Bottom report and the TSX Venture closing summary. The #1 spot in the latter category was taken by Emergence Resort Canada Inc. [NEX: ERS.H], which closed at 29 cents/share for a loss of 4 cents/share on a volume of 67.000 shares. Rose Marie placed first on the top-ten list of volume traded divided by total shares outstanding, found below; Emergence placed second.
There was no news release from any NEX company that was picked up by Marketwire on Friday, and no NEX companies were included in the TSX Venture Daily Bulletins for that day. There were, however, three NEX companies that sent out releases through Canjex Publishing. The first was sent out Thursday night, the second on Friday morning, and the third sent out on Friday evening.
That first release came from The Silver Recycling Company Inc. [NEX: TSR.H], which announced the granting of 720,000 stock options "to directors, senior officers and consultants of the company" at a strike price of 33 cents/share and life of five years. According to the news release, 470,000 of them will vest within a year. TSR.H last closed at 33 cents/share on September 17th.
The second release through Canjex was from MCO Capital Inc., whose class 'B' shares are listed on the NEX [NEX: MCO.H]. It contains the performance of MCO as of the third quarter of its 2007 fiscal year, which ended July 31st. The company had no revenue in the first three quarters, and a net loss of 0.4 cents/share for the third quarter and a net loss of 1.1 cents/share over the first three quarters of '07. This compares to a net loss of 1.1 cents/share for the first nine months of FY '06 and a net loss of 0.3 cents/share for 3Q '06. According to the release, thanks to MCO's operational needs, "the company's cash decreased by a net amount of $69,532 to stand at $10,631 as at July 31, 2007, compared with $80,163 on Oct. 31, 2006." Also noted was a reimbursement of $78,004 in interest-free advances and the receipt of $70,000 more in advances. Both year's advances came from related companies. After noting that shareholder's equity decreased from -$13,990 as of the end of FY '06 to -$60,340 as of the end of 3Q '07, the release ends with these words: "Board members and officers are currently considering various alternatives in regard to the company's future." MCO.H last traded on July 12th, when it closed at 37 cents/share.
The third release of the day came from Maximum Ventures, after trading had finished. It announces the appointment of a new director, Kirk Shaw, who is replacing Hugh Burnett. Mr. Burnett, according to the release, resigned for retirement reasons. MVI.H closed at 56 cents/share, up 5 cents/share on the day.
One NEX stock traded more than ten times on Friday, the above-mentioned Silvio Ventures with 42 trades. All but two of them were odd-lot sized, and nineteen of the forty-two trades had volume of less than 100 shares. This explains why SIV.H was far back of the pack with respect to daily volume - 7,348 shares - while being the most frequently-traded NEX stock on Friday. The market was quick to settle for a value of about 60 cents/share as the new value of Silvio shares; all trades, including odd-lot-volume trades, ranged from 55 cents/share to 62 cents/share. Despite the thud in its price, though, Silvio is far above its formal 52-week low, of 6 cents/share, made on Feb. 16th of this year. (I note, though, that the 52-week low was made on one trade, the first trade of SIV.H in 2007. The stock quickly leapt up to about 50 cents/share that same morning, and spent the afternoon ranging from 45 cents/share to 65 cents/share if trades equal to or greater than a board lot are counted. If only board-lot trades are counted, then it ranged from 51 to 60 cents/share that afternoon.)
The top percentage gainer in Friday's trading was the above-mentioned Greenshield Explorations [NEX: GRX.H]. Greenshield closed at 36 cents/share with a gain of 6 cents/share, as noted above, for a 20% gain on the day. One trade, of 5,000 shares right after the market opened, put Greenshield at the top of the advancers on a percentage basis.
The top percentage decliner for Friday was the above-mentioned Silvio Ventures [NEX: SIV.H]. As noted above, Silvio closed at 60 cents/share for a loss of 56 cents/share or 48.28%.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
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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The stock that opened with the largest decline had no effect on the BBCI until about 11:46 AM. This was the first day in more than four months that Silvio Ventures Inc. had traded, and its price was down sharply from the get-go. Almost all of its trades on Friday were for odd-lot sized volumes, although many of them would have qualified for board lot status if the price of SIV.H had stayed above a dollar per share. The first trade, though, was for 61 cents/share, making Silvio a stock for which a board lot is 500 shares. Thus, despite lots of activity in SIV.H on the NEX early Friday morning, the plummet in the stock didn't drop the BBCI until the first board-lot-sized trade was made - the twenty-ninth trade in SIV.H of the day. Silvio closed at 60 cents/share, down 56 cents/share on the day. Arcland closed at 15.5 cents/share, up 1.5 cents/share, and Greenshield closed at 36 cents/share for a gain of 6 cents/share since Thursday's close.
Subsequent to the Silvio thud, the BBC Index slowly climbed upwards until the last hour of trading, when the recovery gained speed. A rise in Datinvest International Ltd. [NEX: DAI.H] during that last hour, plus a lesser gain in Monster Uranium Corp. [NEX: MU.H] in the last half-hour, helped the Barrel's Bottom Composite move from the pre-noon thud to a slight loss on the day at 85.93 for the week's close.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 86.13
- 11 AM: 86.18
- 12 PM: 85.60
- 1 PM: 85.66
- 2 PM: 85.71
- 3 PM: 85.78
- 4 PM/Close: 85.93
Thirty-five NEX stocks traded on Friday. Of these, 11 advanced, 10 declined and 14 remained unchanged. There were 133 trades. The top trader in terms of raw volume was, yet again, Rose Marie Resources Ltd. [NEX: RSR.H], which closed at 11 cents/share for a loss of 0.5 cents/share on a much-lessened 150,000-share volume. There were only four trades in RSR.H on Friday, and all of them had "Anonymous" as the sell-side financial institution. Rose Marie was a close runner-up for the top spot in terms of value of shares traded, according to the other Barrel's Bottom report and the TSX Venture closing summary. The #1 spot in the latter category was taken by Emergence Resort Canada Inc. [NEX: ERS.H], which closed at 29 cents/share for a loss of 4 cents/share on a volume of 67.000 shares. Rose Marie placed first on the top-ten list of volume traded divided by total shares outstanding, found below; Emergence placed second.
There was no news release from any NEX company that was picked up by Marketwire on Friday, and no NEX companies were included in the TSX Venture Daily Bulletins for that day. There were, however, three NEX companies that sent out releases through Canjex Publishing. The first was sent out Thursday night, the second on Friday morning, and the third sent out on Friday evening.
That first release came from The Silver Recycling Company Inc. [NEX: TSR.H], which announced the granting of 720,000 stock options "to directors, senior officers and consultants of the company" at a strike price of 33 cents/share and life of five years. According to the news release, 470,000 of them will vest within a year. TSR.H last closed at 33 cents/share on September 17th.
The second release through Canjex was from MCO Capital Inc., whose class 'B' shares are listed on the NEX [NEX: MCO.H]. It contains the performance of MCO as of the third quarter of its 2007 fiscal year, which ended July 31st. The company had no revenue in the first three quarters, and a net loss of 0.4 cents/share for the third quarter and a net loss of 1.1 cents/share over the first three quarters of '07. This compares to a net loss of 1.1 cents/share for the first nine months of FY '06 and a net loss of 0.3 cents/share for 3Q '06. According to the release, thanks to MCO's operational needs, "the company's cash decreased by a net amount of $69,532 to stand at $10,631 as at July 31, 2007, compared with $80,163 on Oct. 31, 2006." Also noted was a reimbursement of $78,004 in interest-free advances and the receipt of $70,000 more in advances. Both year's advances came from related companies. After noting that shareholder's equity decreased from -$13,990 as of the end of FY '06 to -$60,340 as of the end of 3Q '07, the release ends with these words: "Board members and officers are currently considering various alternatives in regard to the company's future." MCO.H last traded on July 12th, when it closed at 37 cents/share.
The third release of the day came from Maximum Ventures, after trading had finished. It announces the appointment of a new director, Kirk Shaw, who is replacing Hugh Burnett. Mr. Burnett, according to the release, resigned for retirement reasons. MVI.H closed at 56 cents/share, up 5 cents/share on the day.
One NEX stock traded more than ten times on Friday, the above-mentioned Silvio Ventures with 42 trades. All but two of them were odd-lot sized, and nineteen of the forty-two trades had volume of less than 100 shares. This explains why SIV.H was far back of the pack with respect to daily volume - 7,348 shares - while being the most frequently-traded NEX stock on Friday. The market was quick to settle for a value of about 60 cents/share as the new value of Silvio shares; all trades, including odd-lot-volume trades, ranged from 55 cents/share to 62 cents/share. Despite the thud in its price, though, Silvio is far above its formal 52-week low, of 6 cents/share, made on Feb. 16th of this year. (I note, though, that the 52-week low was made on one trade, the first trade of SIV.H in 2007. The stock quickly leapt up to about 50 cents/share that same morning, and spent the afternoon ranging from 45 cents/share to 65 cents/share if trades equal to or greater than a board lot are counted. If only board-lot trades are counted, then it ranged from 51 to 60 cents/share that afternoon.)
The top percentage gainer in Friday's trading was the above-mentioned Greenshield Explorations [NEX: GRX.H]. Greenshield closed at 36 cents/share with a gain of 6 cents/share, as noted above, for a 20% gain on the day. One trade, of 5,000 shares right after the market opened, put Greenshield at the top of the advancers on a percentage basis.
The top percentage decliner for Friday was the above-mentioned Silvio Ventures [NEX: SIV.H]. As noted above, Silvio closed at 60 cents/share for a loss of 56 cents/share or 48.28%.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Rose Marie Resources Ltd. [NEX: RSR.H] - 2.19% of total shares outstanding;
- Emergence Resort Canada Inc. [NEX: ERS.H] - 1.58% of TSO;
- Gold Star Resources Corp. [NEX: GXX.H] - 1.04%;
- Arcland Resources Inc. [NEX: ADR.H] - 0.781%;
- 222 Pizza Express Corp. [NEX: PIZ.H] - 0.514%;
- Electrohome Limited class 'X' voting [NEX: ELL.H] - 0.500%;
- ITI World Investment Group Inc. class 'A' [NEX: IWI.H] - 0.362%;
- Greenshield Explorations Limited [NEX: GRX.H] - 0.252%;
- Trilogy Metals Inc. [NEX: TRI.H] - 0.209%;
- Module Resources Incorporated [NEX: MLE.H] - 0.179%.
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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Thursday, September 20, 2007
September 20th NEX
In today's NEX trading, the Barrel's Bottom Composite index closed at 86.23, down 0.53 points or 0.611% from the previous day's close of 86.76. Despite initial drops in the prices of Rocher Deboule Minerals Corp. [NEX: RD.H] and Focus Ventures Ltd. [NEX: FCV.H], the BBC Index held up until late morning, by several gainers that counteracted the few decliners in that time period. In fact, between 11 AM ET and 12 PM ET, the index got slightly above 87. This plateau eroded by late morning, when Maximum Ventures [NEX: MVI.H] began trading with a drop of 14 cents/share to 51 cents/share, its closing price as established by one board lot of 500 shares traded. The resultant thud in the BBCI partially reversed in the early afternoon, although this upside reversal didn't hold as early afternoon turned into mid-afternoon. Partially responsible for the re-erosion was a much more substantial trader today, Rose Marie Resources Ltd. [RSR.H], which opened up with a 1 cent/share loss at about 12:24 PM ET. There was a lot more than a single board lot traded today in RSR.H: its volume for the day was 810,000 shares. A partial recovery of Rocher later in the afternoon helped staunch the decline in the BBCI, even though its effect was counteracted in large part by a 1 cent/share decline in the price of Toba Industries Ltd. [NEX: TBG.H], as of its first trade at about 2:51 PM, and a 0.5-cent drop in the price of Rose Marie as of about 2:55 PM. The BBC Index managed to creep back up to about the level it was at 2 PM by the close.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
Thirty-four NEX stocks traded today. Of these, 12 advanced, 7 declined and 15 remained unchanged. There were 199 trades. The top trader in terms of raw volume was, once again, Rose Marie Resources Ltd. [NEX: RSR.H] with the above-mentioned 810,000-share volume. All of today's trades had "Anonymous" as the sell-side financial institution. Rose Marie, according to the other Barrel's Bottom report and the TSX Venture closing summary for today, also took the #1 spot in terms of value of shares traded. The runner-up in both volume and value, Challenger Development Corp. [NEX: CDQ.H], wasn't even close in either category. Rose Marie placed a strong first on the top-ten list of volume traded divided by total shares outstanding, found below. Challenger didn't place at all.
There was no news release from any NEX company that was picked up by Marketwire today, although one NEX company was included at the bottom of today's TSX Venture Daily Bulletins: Silvio Ventures [NEX: SIV.H]. The halt on SIV.H has now been rescinded; Silvio shares will resume trading tomorrow.
Two NEX companies sent out releases today through Canjex Publishing, one early in the morning and one in the evening. The first, from Arcland Resources Inc. [NEX: ADR.H], announced a still-in-progress $336,000 private placement of 3.2 million shares at 10.5 cents/share. "The proceeds," according to the news release, "will be reserved for working capital." ADR.H didn't trade today; its last close was at 14 cents/share on Sept. 14th, a 52-week low. The second release concerns International Silver Ridge Resources Inc. [NEX: ISG.H]; it's even briefer than the brief one sent out by Arcland. "The Alberta Securities Commission has revoked its Sept. 12, 2003, cease trade order against International Silver Ridge Resources Inc., effective Sept. 20, 2007." That's the release in its entirety.
Two NEX stocks traded more than ten times today, with one of them far out in front of the others as measured by number of trades. Despite what the first paragraph of this report suggested, the top trader in terms of numerousness was Rocher Deboule, with 78 trades today. Sixty-one of those trades were for one board lot (500 shares) each, which explains why RD.H was so far out in front despite its daily volume being 83,251 shares - little more than a tenth of the volume of the next-highest in terms of number of trades, Rose Marie Resources. Trading in RD.H was brisk all through the day. It opened at 50 cents/share and stayed there for the first two hours of trading, except for a brief dip below that price between 10:20 and 10:29 AM ET. After another dip from 11:45 AM ET to 12:05 PM ET, which troughed at a higher price than the one in mid-morning, RD.H began climbing. A third dip at about 1:17 PM ET, which took the price of Rocher's stock to its daily low of 46.5 cents/share (excluding odd lots, although the odd-lot low was reached at this time too), was quickly followed by a jump to 53 cents/share. For the rest of the day, RD.H stayed within a cent of that 53 cent/share jump; it veered between 52 and 53 cents in mid-afternoon and 53-54 cents in the last hour of trading. That same 53 cents/share was Rocher's closing price, for a gain of a penny per share on the day. Rocher placed fifth on the top-ten daily-turnover list, found below.
Rose Marie did place a distant second in the numerousness category, but the number of trades in RSR.H today was far above that of the typical first-placer during this summer. Almost all of the 32 trades in the stock of Rose Marie today had five-figure volumes, but not all of them. As mentioned above, trading in RSR.H started in the afternoon; twelve more trades were made in the first half-hour after that first trade. As of an hour after it, twenty had been made. Rose Marie then lay dormant until about 2:55 PM ET, when the price dropped from 12 cents/share to 11.5 cents/share. After a brief dip to 11 cents/share at about 3:05 PM ET, Rose Marie returned to 11.5 cents/share, where it closed. The first trade was the only one at 12.5 cents/share, although the fourth and fifth of the day were at 13 cents/share.
The top percentage gainer in today's trading was Emergence Resort Canada Inc. [NEX: ERS.H], which closed at 33 cents/share for a gain of 10.5 cents/share or 46.67% on the day. Two trades, both at about 3:06 PM ET, accounted for the gain. The first one, of 5,000 shares, was at 30 cents/share; the second and last, of 2,000 shares, pushed the price up to 33 cents/share. Both had Desjardins as the buy-side financial institution, indicating that they composed a 7,000 share bought block of Emergence.
The top percentage decliner for today was the above-mentioned Maximum Ventures Inc. [NEX: MVI.H], which closed at 51 cents/share for a loss of 14 cents/share or 21.54%. As also noted above, one single board lot's worth of Maximum pushed its price down enough to make it today's top percent decliner.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 86.69
- 11 AM: 86.72
- 12 PM: 86.10
- 1 PM: 86.40
- 2 PM: 86.23
- 3 PM: 86.18
- 4 PM/Close: 86.23
Thirty-four NEX stocks traded today. Of these, 12 advanced, 7 declined and 15 remained unchanged. There were 199 trades. The top trader in terms of raw volume was, once again, Rose Marie Resources Ltd. [NEX: RSR.H] with the above-mentioned 810,000-share volume. All of today's trades had "Anonymous" as the sell-side financial institution. Rose Marie, according to the other Barrel's Bottom report and the TSX Venture closing summary for today, also took the #1 spot in terms of value of shares traded. The runner-up in both volume and value, Challenger Development Corp. [NEX: CDQ.H], wasn't even close in either category. Rose Marie placed a strong first on the top-ten list of volume traded divided by total shares outstanding, found below. Challenger didn't place at all.
There was no news release from any NEX company that was picked up by Marketwire today, although one NEX company was included at the bottom of today's TSX Venture Daily Bulletins: Silvio Ventures [NEX: SIV.H]. The halt on SIV.H has now been rescinded; Silvio shares will resume trading tomorrow.
Two NEX companies sent out releases today through Canjex Publishing, one early in the morning and one in the evening. The first, from Arcland Resources Inc. [NEX: ADR.H], announced a still-in-progress $336,000 private placement of 3.2 million shares at 10.5 cents/share. "The proceeds," according to the news release, "will be reserved for working capital." ADR.H didn't trade today; its last close was at 14 cents/share on Sept. 14th, a 52-week low. The second release concerns International Silver Ridge Resources Inc. [NEX: ISG.H]; it's even briefer than the brief one sent out by Arcland. "The Alberta Securities Commission has revoked its Sept. 12, 2003, cease trade order against International Silver Ridge Resources Inc., effective Sept. 20, 2007." That's the release in its entirety.
Two NEX stocks traded more than ten times today, with one of them far out in front of the others as measured by number of trades. Despite what the first paragraph of this report suggested, the top trader in terms of numerousness was Rocher Deboule, with 78 trades today. Sixty-one of those trades were for one board lot (500 shares) each, which explains why RD.H was so far out in front despite its daily volume being 83,251 shares - little more than a tenth of the volume of the next-highest in terms of number of trades, Rose Marie Resources. Trading in RD.H was brisk all through the day. It opened at 50 cents/share and stayed there for the first two hours of trading, except for a brief dip below that price between 10:20 and 10:29 AM ET. After another dip from 11:45 AM ET to 12:05 PM ET, which troughed at a higher price than the one in mid-morning, RD.H began climbing. A third dip at about 1:17 PM ET, which took the price of Rocher's stock to its daily low of 46.5 cents/share (excluding odd lots, although the odd-lot low was reached at this time too), was quickly followed by a jump to 53 cents/share. For the rest of the day, RD.H stayed within a cent of that 53 cent/share jump; it veered between 52 and 53 cents in mid-afternoon and 53-54 cents in the last hour of trading. That same 53 cents/share was Rocher's closing price, for a gain of a penny per share on the day. Rocher placed fifth on the top-ten daily-turnover list, found below.
Rose Marie did place a distant second in the numerousness category, but the number of trades in RSR.H today was far above that of the typical first-placer during this summer. Almost all of the 32 trades in the stock of Rose Marie today had five-figure volumes, but not all of them. As mentioned above, trading in RSR.H started in the afternoon; twelve more trades were made in the first half-hour after that first trade. As of an hour after it, twenty had been made. Rose Marie then lay dormant until about 2:55 PM ET, when the price dropped from 12 cents/share to 11.5 cents/share. After a brief dip to 11 cents/share at about 3:05 PM ET, Rose Marie returned to 11.5 cents/share, where it closed. The first trade was the only one at 12.5 cents/share, although the fourth and fifth of the day were at 13 cents/share.
The top percentage gainer in today's trading was Emergence Resort Canada Inc. [NEX: ERS.H], which closed at 33 cents/share for a gain of 10.5 cents/share or 46.67% on the day. Two trades, both at about 3:06 PM ET, accounted for the gain. The first one, of 5,000 shares, was at 30 cents/share; the second and last, of 2,000 shares, pushed the price up to 33 cents/share. Both had Desjardins as the buy-side financial institution, indicating that they composed a 7,000 share bought block of Emergence.
The top percentage decliner for today was the above-mentioned Maximum Ventures Inc. [NEX: MVI.H], which closed at 51 cents/share for a loss of 14 cents/share or 21.54%. As also noted above, one single board lot's worth of Maximum pushed its price down enough to make it today's top percent decliner.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Rose Marie Resources Ltd. [NEX: RSR.H] - 11.9% of total shares outstanding;
- Gold Star Resources Corp. [NEX: GXX.H] - 1.02% of TSO;
- Focus Ventures Ltd. [NEX: FCV.H] - 0.586%;
- MP Western Properties Inc. [NEX: MPW.H] - 0.495%;
- Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.397%;
- Guildhall Minerals Ltd. [NEX: GDM.H] - 0.319%;
- Abitibi Mining Corp. [NEX: ABB.H] - 0.282%;
- Canadian Quantum Energy Corporation [NEX: CQM.H] - 0.268%;
- Specialty Foods Group Income Fund [NEX: HAM.UN.H] - 0.263%;
- Monster Uranium Corp. [NEX: MU.H] - 0.243%.
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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Wednesday, September 19, 2007
September 19th NEX
[Correction Note: Due to flawed data, the original version of this report overstated the BBCI figures by 0.01 point, and thus understated the day's decline. The figures, point change and percentage change have all been corrected. Apologies to anyone who was misled.]
In today's NEX trading, the Barrel's Bottom Composite index closed at 86.76, down 0.65 points or 0.744%, from the previous day's close of 87.41. The day got off to a slow-moving start: by 10 AM ET, the BBC Index had not changed at all from yesterday's close. A 7-cent decline in the price of Rocher Deboule Minerals Corp. [NEX: RD.H] pushed down the index in the next hour, even though that decline was partially damped by a 3 cent/share rise in Electrohome Limited class 'Y' non-voting [NEX: ELL.K] during that same time period. For most of the day, Electrohome's non-voting shares were actually worth more than the implied value of Electrohome's voting shares [NEX: ELL.H] as based on the last trade of the latter on August 30th. ELL.K fell in the last hour, though, and closed unchanged at 15 cents/share.
The NEX was relatively quiescent from late morning until early afternoon. Between 12 and 1 PM ET the index didn't change at all, except for a self-reversing rise near the middle of the hour that lasted for about twelve minutes. This holding pattern changed in mid-afternoon, though, at first with a rise that didn't hold up. At about 1:15 PM, there was a substantial drop in the BBCI that didn't reverse (except briefly) until the last hour of trading. Gains in Monster Uranium Corp [NEX: MU.H], Rose Marie Resources Ltd. [RSR.H], Lomiko Resources Inc. [NEX: LMR.H] and a partial reversal of the decline of Rocher Deboule [NEX: RD.H] more than overcame the few additional decliners in that last hour. MU.H closed at 40 cents/share, up 5 cents/share on the day; RSR.H closed at 13.5 cents/share, up 2.5 cents/share; LMR.H closed at 37.5 cents/share, up 5.5 cents/share; RD.H closed at 52 cents/share, down 2 cents on the day.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
Twenty-five NEX stocks traded today. Of these, 8 advanced, 9 declined and 8 remained unchanged. There were 96 trades. The top trader in terms of raw volume was the same as yesterday's, although with lesser volume: Rose Marie Resources Ltd. [NEX: RSR.H], with 297,250 shares traded today. The unusual combination of a large volume and little price change might very well have been caused by a tranche of shares coming out of escrow as of yesterday, thus becoming part of total shares outstanding. Of the 23 trades that have been made since the start of yesterday's trading, all but four have had an anonymous institution as the sell-side broker - and those four were the most recent trades of today. In total, 688,000 shares have been sold through an anonymous institution in the last two days, all at the same price of 11 cents/share. Approximately 3 million shares of Rose Marie came out of escrow as of yesterday.
According to the other Barrel's Bottom report and the TSX Venture closing summary for today, Monster Uranium Corp. [NEX: MU.H], for the second day in a row, took the #1 spot in terms of value of shares traded; once again, Rose Marie was a close second. Monster Uranium placed fifth on the top-ten list of volume traded divided by total shares outstanding, found below. Rose Marie placed first, as it did yesterday.
There was no news release from any NEX company that was picked up by Marketwire today. Nor were there any NEX companies mentioned in today's TSX Venture Daily Bulletins.
There were, however, two NEX companies that sent out releases today through Canjex Publishing. Both of them, Canadian Quantum Energy Corporation [NEX: CQM.H] and Gtech International Resources Limited [NEX: GCH.H], have filed interim (unaudited) financial statements for the latest quarter; neither issue traded today. Canadian Quantum's, for the first quarter of this fiscal year [PDF file], showed a loss of less than one cent/share, or $11,351. The first quarter of last year saw a loss as well, of $11,219 or less than a cent/share. The gross profit on Canadian Quantum's oil and gas sales dropped from 18.86% in the first quarter of last year to 11.02%. As explained in the M D & A [another PDF file], a drop in the received price for a barrel of oil, combined with a slight rise in production expenses, caused the drop; a rise in received price for natural gas in the same time period mollified the drop somewhat. Ironically, it was the expense drop that resulted from Quantum moving to the NEX that kept its loss at almost the same level as compared with the same period last year.
Gtech International's interim financial statement [PDF file] for the last quarter shows it sitting on $458,743 in cash, down slightly from the same period last year. (By an interesting coincidence, net current assets is equal to shareholders' equity. This was not true of the same quarter in the last fiscal year.) Its only revenue came from interest on the cash; its loss per share dropped from 0.024 cents to 0.04 cents due to there being no stock compensation expense for the most recent quarter. The M D & A [PDF file] suggests that Gtech is waiting for "a suitable biotechnology project" to buy up, but is not actively looking for one right now: "Total costs incurred during the period under review in relation to identifying biotechnology opportunities for the Company, as stated in the Description of Business section of this Report, were $Nil."
One NEX stock traded more than ten times today, the above-mentioned Rose Marie Resources; RSR.H traded eleven times today. The first seven of those trades were all at 11 cents/share; had the eighth trade been board-lot size, it would have made a new 52-week low for RSR.H. (That trade was for 250 shares at 9.5 cents/share; the 52-week low is 10.5 cents/share, established last Friday.) Rose Marie turned around by the ninth trade, of 24,000 shares at 12.5 cents/share, made at about 3:22 PM ET. The final two trades, of 30,000 and 50,000 shares, were each made at a higher price than the last trade; both were bought through an anonymous financial institution. As noted above, Rose Marie closed up 2.5 cents/share since yesterday's close.
The top percentage gainer in today's trading was Specialty Foods Group Income Fund [NEX: HAM.UN.H], which closed at 2 cents/share for a gain of 0.5 cents/share or 33.33% on the day. One trade of 1000 shares of HAM.UN.H, made at about 1:01 PM ET, put it at today's top in this category.
The top percentage decliner for today was BHR Buffalo Head Resources Ltd. [NEX: BHR.H], which closed at 15 cents/share for a loss of 5.5 cents/share or 26.83%. One trade, also of 1,000 shares, put BHR.H in the top decliner slot. Its closing price for today is equal to its close price as of two days ago.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
In today's NEX trading, the Barrel's Bottom Composite index closed at 86.76, down 0.65 points or 0.744%, from the previous day's close of 87.41. The day got off to a slow-moving start: by 10 AM ET, the BBC Index had not changed at all from yesterday's close. A 7-cent decline in the price of Rocher Deboule Minerals Corp. [NEX: RD.H] pushed down the index in the next hour, even though that decline was partially damped by a 3 cent/share rise in Electrohome Limited class 'Y' non-voting [NEX: ELL.K] during that same time period. For most of the day, Electrohome's non-voting shares were actually worth more than the implied value of Electrohome's voting shares [NEX: ELL.H] as based on the last trade of the latter on August 30th. ELL.K fell in the last hour, though, and closed unchanged at 15 cents/share.
The NEX was relatively quiescent from late morning until early afternoon. Between 12 and 1 PM ET the index didn't change at all, except for a self-reversing rise near the middle of the hour that lasted for about twelve minutes. This holding pattern changed in mid-afternoon, though, at first with a rise that didn't hold up. At about 1:15 PM, there was a substantial drop in the BBCI that didn't reverse (except briefly) until the last hour of trading. Gains in Monster Uranium Corp [NEX: MU.H], Rose Marie Resources Ltd. [RSR.H], Lomiko Resources Inc. [NEX: LMR.H] and a partial reversal of the decline of Rocher Deboule [NEX: RD.H] more than overcame the few additional decliners in that last hour. MU.H closed at 40 cents/share, up 5 cents/share on the day; RSR.H closed at 13.5 cents/share, up 2.5 cents/share; LMR.H closed at 37.5 cents/share, up 5.5 cents/share; RD.H closed at 52 cents/share, down 2 cents on the day.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 87.40
- 11 AM: 87.14
- 12 PM: 87.12
- 1 PM: 87.12
- 2 PM: 86.82
- 3 PM: 86.48
- 4 PM/Close: 86.76
Twenty-five NEX stocks traded today. Of these, 8 advanced, 9 declined and 8 remained unchanged. There were 96 trades. The top trader in terms of raw volume was the same as yesterday's, although with lesser volume: Rose Marie Resources Ltd. [NEX: RSR.H], with 297,250 shares traded today. The unusual combination of a large volume and little price change might very well have been caused by a tranche of shares coming out of escrow as of yesterday, thus becoming part of total shares outstanding. Of the 23 trades that have been made since the start of yesterday's trading, all but four have had an anonymous institution as the sell-side broker - and those four were the most recent trades of today. In total, 688,000 shares have been sold through an anonymous institution in the last two days, all at the same price of 11 cents/share. Approximately 3 million shares of Rose Marie came out of escrow as of yesterday.
According to the other Barrel's Bottom report and the TSX Venture closing summary for today, Monster Uranium Corp. [NEX: MU.H], for the second day in a row, took the #1 spot in terms of value of shares traded; once again, Rose Marie was a close second. Monster Uranium placed fifth on the top-ten list of volume traded divided by total shares outstanding, found below. Rose Marie placed first, as it did yesterday.
There was no news release from any NEX company that was picked up by Marketwire today. Nor were there any NEX companies mentioned in today's TSX Venture Daily Bulletins.
There were, however, two NEX companies that sent out releases today through Canjex Publishing. Both of them, Canadian Quantum Energy Corporation [NEX: CQM.H] and Gtech International Resources Limited [NEX: GCH.H], have filed interim (unaudited) financial statements for the latest quarter; neither issue traded today. Canadian Quantum's, for the first quarter of this fiscal year [PDF file], showed a loss of less than one cent/share, or $11,351. The first quarter of last year saw a loss as well, of $11,219 or less than a cent/share. The gross profit on Canadian Quantum's oil and gas sales dropped from 18.86% in the first quarter of last year to 11.02%. As explained in the M D & A [another PDF file], a drop in the received price for a barrel of oil, combined with a slight rise in production expenses, caused the drop; a rise in received price for natural gas in the same time period mollified the drop somewhat. Ironically, it was the expense drop that resulted from Quantum moving to the NEX that kept its loss at almost the same level as compared with the same period last year.
Gtech International's interim financial statement [PDF file] for the last quarter shows it sitting on $458,743 in cash, down slightly from the same period last year. (By an interesting coincidence, net current assets is equal to shareholders' equity. This was not true of the same quarter in the last fiscal year.) Its only revenue came from interest on the cash; its loss per share dropped from 0.024 cents to 0.04 cents due to there being no stock compensation expense for the most recent quarter. The M D & A [PDF file] suggests that Gtech is waiting for "a suitable biotechnology project" to buy up, but is not actively looking for one right now: "Total costs incurred during the period under review in relation to identifying biotechnology opportunities for the Company, as stated in the Description of Business section of this Report, were $Nil."
One NEX stock traded more than ten times today, the above-mentioned Rose Marie Resources; RSR.H traded eleven times today. The first seven of those trades were all at 11 cents/share; had the eighth trade been board-lot size, it would have made a new 52-week low for RSR.H. (That trade was for 250 shares at 9.5 cents/share; the 52-week low is 10.5 cents/share, established last Friday.) Rose Marie turned around by the ninth trade, of 24,000 shares at 12.5 cents/share, made at about 3:22 PM ET. The final two trades, of 30,000 and 50,000 shares, were each made at a higher price than the last trade; both were bought through an anonymous financial institution. As noted above, Rose Marie closed up 2.5 cents/share since yesterday's close.
The top percentage gainer in today's trading was Specialty Foods Group Income Fund [NEX: HAM.UN.H], which closed at 2 cents/share for a gain of 0.5 cents/share or 33.33% on the day. One trade of 1000 shares of HAM.UN.H, made at about 1:01 PM ET, put it at today's top in this category.
The top percentage decliner for today was BHR Buffalo Head Resources Ltd. [NEX: BHR.H], which closed at 15 cents/share for a loss of 5.5 cents/share or 26.83%. One trade, also of 1,000 shares, put BHR.H in the top decliner slot. Its closing price for today is equal to its close price as of two days ago.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- Rose Marie Resources Ltd. [NEX: RSR.H] - 4.35% of total shares outstanding;
- Magnate Ventures Inc. [NEX: MGV.H] - 3.47% of TSO;
- Lomiko Resources Inc. [NEX: LMR.H] - 1.84%;
- Gold Star Resources Corp. [NEX: GXX.H] - 1.50%;
- Monster Uranium Corp. [NEX: MU.H] - 0.642%;
- Electrohome Limited class 'Y' non-voting [NEX: ELL.K] - 0.273%;
- Challenger Development Corp. [NEX: CDQ.H] - 0.272%;
- Moneta Resources Inc. [NEX: MOT.H] - 0.213%;
- Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.207%;
- Focus Ventures Ltd. [NEX: FCV.H] - 0.139%.
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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