September 10th NEX

In yesterday's NEX trading, the Barrel's Bottom Composite index closed at 84.69, down 0.49 points or 0.575% from the previous day's close of 85.18. After an initial rise from last Friday's close, thanks in large part to a 2-cent uptick in Surge Resources Inc. [NEX: SRH.H], the BBC Index slowly drifted downwards until noon, at which point it treaded water until early mid-aftenoon trading, when it took a spill. Between 1 and 2 PM ET, there was a 2.5 cent/share drop in Consolidated Westview Resource Corp. [NEX: CWS.H] and a 4-cent drop in Newstrike Capital Inc. [NEX: NES.H], which more than counteracted gains in Magnate Ventures Inc. [NEX: MGV.H] and Rose Marie Resources Ltd. [NEX: RSR.H] to push the BBCI down 0.38 points in that hour. After mostly recovering from that spill in the subsequent hour, the BBC Index sunk back down in the final hour of trading to close at 84.69.

Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:

• 10 AM: 85.24
• 11 AM: 85.13
• 12 PM: 85.03
• 1 PM: 85.05
• 2 PM: 84.67
• 3 PM: 84.93
• 4 PM/Close: 84.69

Thirty-nine NEX stocks traded yesterday. Of these, 7 advanced, 10 declined and 22 remained unchanged. There were 131 trades. The top trader in terms of raw volume was Specialty Foods Group Income Fund [NEX: HAM.UN.H]: 402,000 shares of Specialty Foods traded yesterday. There were only two trades in HAM.UN.H yesterday; a monster trade of 400,000 shares in Specialty Foods, made at about 12:05 PM at 2.5 cents/share, put it in the top spot. Because of the cheapness of HAM.UN.H (it closed at 2 cents/share, unchanged since the previous close last Wednesday), the other Barrel's Bottom report and the TSX Venture closing summary for yesterday show Specialty Foods in the #8 spot for issues in terms of value traded. The #1 spot in the latter category was taken by Rocher Deboule Minerals Corp. [NEX: RD.H]. Rocher closed at 43 cents/share yesterday, down 5 cents/share from last Friday's close. Specialty Foods placed at #2 on the top-ten list of shares traded as a percentage of total shares outstanding, found below; Rocher Deboule placed seventh.

Three NEX companies were mentioned in yesterday's TSX Venture Exchange Daily Bulletins. The first, Agrotech Greenhouses Inc., [NEX: AGV.H], is going to resume trading, starting today. The second discloses a private placement of Isee3d [NEX: ICT.H] shares. 966,667 shares were placed at a price of 30 cents/share, along with 966,667 warrants, each good for the purchase of 1 share of ICT.H, with strike price of 50 cents/share and life of 1 year. ICT.H closed at 37 cents/share, unchanged from last Friday's close. The third bulletin is from Lomiko Resources Inc. [NEX: LMR.H]. It contains an amendment to a previous release, which announces a change in the number of shares purchased by two placees. (The webbed copies of the individual bulletins linked to in this paragraph are courtesy of Canjex Publishing.)

There were two releases, picked up by Marketwire, from NEX companies yesterday. The first, released in the early morning, announced the acquisition of a niobium property by Rocher Deboule. According to it, the property has already proven to contain niobium according to old samples done by Texaco on one of the claims (the Brent claim) as of 1972. The report suggests that the deposit wasn't mined because the deposit wasn't economic, but is now becoming so thanks to a rise in niobium prices from $8.75 US/lb as of the start of this year to $26.50 US/lb as of the time of the news release. As noted above, the shares of RD.H sunk 5 cents/share yesterday, subsequent to the release.

The second release concerns a company that's going to be moving to the NEX soon: Learnsoft Corp. Learnsoft plans to get rid of its active businesses and clean up its balance sheet, according to the report, and also intends to consolidate its shares on a 1-for-3 basis. Once this reorganization is complete, it will join the NEX as a debt-free shell company with about $400,000 in working capital if all goes according to plan. At present, Learnsoft's symbol is TSX-V: LS.

In addition to the reports mentioned above, two other NEX companies were the subjects of other releases, distributed by Canjex, yesterday. The first, from BHR Buffalo Head Resources Inc [NEX: BHR.H], announced a planned private placement of up to $675,000 through the sale of 7.5 million Buffalo Head shares at 9 cents/share. No warrants are part of the deal. Buffalo Head plans to use the proceeds "for the planned acquisition of a mineral resource property of merit and for working-capital purposes, including the payment of certain debt obligations of approximately $175,000." BHR.H closed yesterday at 14.5 cents/share, unchanged from last Friday's close. The other press release, from Consolidated Westview Resource Corp. [NEX: CWS.H], announces the election of a completely new slate of directors to Westview's board, and a planned 2-for-1 consolidation of its shares plus a name change to (tentatively) Aldebaran Minerals Inc. as authorized by the shareholders at the meeting. CWS.H closed at 30 cents/share, down 2.5 cents/share from last Friday's close.

One NEX stock traded more than ten times yesterday: the above-mentioned Rocher Deboule, which traded 16 times yesterday. After opening even, RD.H sunk to 46 cents/share by about 11:11 AM ET. Except for an odd-lot trade, it stayed at that price until about 3:27 PM ET, at which point it sunk to 44 cents first, and 43.5 cents/share almost immediately. The second-last trade of the day, of 36,000 shares at about 3:38 PM ET, took the price down to its close of 43 cents; the last trade was an odd lot of 400 shares at 45 cents/share. Total volume for RD.H yesterday was 99,250 shares.

The top percentage gainer in yesterday's trading was Global Tree Technologies [NEX: GTT.H], which closed at 2 cents/share for a gain of 0.5 cents/share or 33.33%. One trade, of low volume for GTT.H, pushed it into the top gainer category for yesterday: 4000 shares at about 12:46 PM ET.

The top percentage decliner for yesterday was Arcland Resources Inc. [NEX: ADR.H], which closed at 19 cents/share for a loss of 3 cents/share or 13.64%. Three trades, of 7000 shares at 22 cents/share, 10,000 shares at 20 cents/share and 10,000 shares at the closing price, were all executed at the same time - about 12:11 PM ET. All three had "Anonymous" as the sell-side institution, indicating that they were part of a block of 27,000 shares that was gotten rid of. Arcland placed at #5 on the top-ten list found just below.

Finally, that above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares, or daily turnover:

1. Rose Marie Resources Ltd. [NEX: RSR.H] - 6.65% of total shares outstanding;
2. Specialty Foods Group Income Fund [NEX: HAM.UN.H] - 2.00% of TSO;
3. Magnate Ventures Inc. [NEX: MGV.H] - 1.76%;
4. Avigo Resources Corp. [NEX: TMX.H] - 1.44%;
5. Arcland Resources Inc. [NEX: ADR.H] - 0.681%;
6. Galleria Opportunities Inc. [NEX: GOI.H] - 0.496%;
7. Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.473%;
8. Gold Star Resources Corp. [NEX: GXX.H] - 0.458%;
9. Datinvest International Ltd. [NEX: DAI.H] - 0.399%;
10. Challenger Development Corp. [NEX: CDQ.H] - 0.329%.

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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