In today's NEX trading, the Barrel's Bottom Composite index closed at 87.52, down 0.21 points or 0.160% from the previous day's close of 87.66. For most of the morning, the BBC Index was almost dead even with yesterday's closing figure, even though there were several gainers and decliners by 11 AM. This balance tipped towards the positive, thanks in part to a 4.5 cent rise in ITI World Investment Group Inc. [NEX: IWI.H] and a 2-cent rise in Abitibi Mining Corp. [NEX: ABB.H] when they began trading today. Since both started between 11 AM and 12 PM ET, the effect was felt on the BBCI in late morning. The BBCI also marked time through most of the afternoon after reaching that noontime plateau. Had it not been for a spill in the last hour of trading today, the index would have closed in positive territory. Instead, in part due to spills in both 222 Pizza Express Corp. [NEX: PIZ.H] and Surge Resources Inc. [NEX: SRH.H], the BBCI ended the trading day with a small loss to close at 87.52. Surge closed at $1.43/share, down 7 cents/share since yesterday's close. 222 Pizza had more of a spill, of which more below.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 87.66
- 11 AM: 87.67
- 12 PM: 87.93
- 1 PM: 87.81
- 2 PM: 87.86
- 3 PM: 87.89
- 4 PM/Close: 87.52
Thirty NEX stocks traded today. Of these, 9 advanced, 8 declined and 13 remained unchanged. There were only 78 trades. The top trader in terms of raw volume was 222 Pizza Express Corp.[NEX:PIZ.H], with an unusually high volume of 462,000 shares. The three trades that put 222 Pizza on the top of the raw-volume list were all made within two minutes of the close, and all had the same sell-side financial institution: HBSC. All three, which went for an unusually low price of 1 cent/share, seem to be part of a block that was dumped. That same 1 cent/share price was, of course, PIZ.H's closing price; it was down 2 cents/share on the day. The other Barrel's Bottom report and the TSX Venture closing summary for today have Rocher Deboule Minerals Corp. [NEX: RD.H] in the #1 spot for value of shares traded. Rocher made the top of the latter list despite it being halted from trading until 12 PM ET. 222 Pizza placed first on the the top-ten list of volume traded divided by total shares outstanding, found below; Rocher placed seventh.
There was one news release from a NEX company that was picked up by Marketwire today: Rocher Deboule cleared up the confusion surrounding a demand from Skid'm def Hoya't (Wayne Campbell) that got RD.H halted early Friday morning. According to the company's press release, Mr. Campbell had consulted for Rocher and had gotten paid for his efforts. He then sent in some additional invoices, which the company asked him to substantiate. Instead of doing so, he claimed that Rocher had intruded upon the Traditional Territory of the House of Nika'teen. In addition, the press release said that each band had already been consulted about Rocher's activity on or near their traditional territories, including the House of Nika'teen itself. This news got Rocher Deboule up once it hit the wires, even though RD.H closed down 2 cents/share at 54 cents/share. Today's volume was 99,200 shares.
Three NEX companies were mentioned in today's TSX Venture Daily Bulletins. First of all, Earthramp Communications [NEX: ERA.H] has changed its name to Champlain Resources Inc. [NEX: CPL.H], and will be trading under the new name and symbol starting tomorrow. Secondly, Rocher Deboule got mentioned as having the halt lifted, as of noon today EST. Thirdly and finally, a correction to an earlier bulletin was issued for YSV Ventures [NEX: XSV.H]. It specified that 500,000 shares of YSV issued to Insight Exploration Inc. was not specifically for repayment of debt, but for a now-lapsed property option agreement. This earlier news release, from July 26th, explains further. (The same release also announced the resignation of the then-CEO.)
There were two NEX companies that sent out releases today through Canjex Publishing. The first, eTV Technology Inc.. [NEX: ETV.H], filed a total of three interim financial statements, one for each of the first three quarters of this fiscal year with accompanying M D & As for each, and one set of audited annual financial statements for 2004 to 2006 with two accompanying M D & As. eTV is currently under suspension, and it looks like management is getting the issues out of the way so as to get the stock trading again. eTV has not taken in any operating income for the time period covered by all the statements. It has, though, scaled down its expenses for the most recent quarter from the previous year's quarter due to a reduction in legal fees paid out. Cash in hand is minimal: $100 as of June 30th according to the third quarter interim statement. The accumulated deficit exceeds shareholder capital, giving eTV a negative book value of (284,339), or -2.5 cents/share according to that same third quarter interim financial statement.
The second NEX company that released news through Canjex was Benem Ventures Inc. [NEX: BNM.H], which has appointed D. Barry Lee to its board of directors. The accompanying press release contains Mr. Lee's CV. Benem is curently halted, and has been so since mid-August of 2006. The press release suggests that it's for want of a qualifying transaction, which is expected to be the acquisition of the "Haskin and Cassiar moly mineral claims."
One NEX stock traded more than ten times today: the above-mentioned Rocher Deboule. Despite Rocher not being tradeable on the NEX before noon ET, it was still the issue with the most numerous amount of trades: sixteen of them. Four were made right at noon sharp, and two more were made within twenty-three minutes of trading resumption. By about 12:23 PM, RD.H was at 52 cents/share. The above-mentioned release, though, stopped this decline and reversed it for some time today: except for an odd-lot-sized trade of 200 shares at 58 cents/share, the high point for RD.H today was at about 2:52 PM ET, when it reached 56 cents/share. The buying pressure ended by that time, however, leaving the stock to sink back 2 cents in later afternoon trading to close at 54 cents/share.
The top percentage gainer in today's trading was ITI World Investment Group Inc. [NEX: IWI.H]. It closed at 37 cents/share, for a gain of five cents/share or 15.63% on the day. Four trades did it, with the first one being the largest: 20,000 shares at 36.5 cents/share at about 11:38 AM ET. All four trades were spaced out during the day, despite the prices being in a tight range of 36.5 to 37 cents. ITI's close, with daily volume of 29,500 shares, touched its 52-week high. It placed eighth on the top-ten list by daily turnover, found just below.
The top percentage decliner for today was the above-mentioned 222 Pizza Express Corp. [NEX: PIZ.H], which lost 66.67% on the day. As noted above, PIZ.H closed at 1 cent/share for a loss of 2 cents/share from Friday's close.
Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover:
- 222 Pizza Express Corp. [NEX: PIZ.H] - 3.08% of total shares outstanding;
- Magnate Ventures Inc. [NEX: MGV.H] - 1.62% of TSO;
- Focus Ventures Ltd. [NEX: FCV.H] - 1.55%;
- MP Western Properties Inc. [NEX: MPW.H] - 0.990%;
- Gainey Resources Ltd. [NEX: GRD.H] - 0.778%;
- Lomiko Resources Inc. [NEX: LMR.H] - 0.698%;
- Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.473%;
- ITI World Investment Group Inc. [NEX: IWI.H] - 0.258%;
- Emergence Resort Canada Inc. [NEX: ERS.H] - 0.189%;
- Gold Star Resources Corp. [NEX: GXX.H] - 0.131%.
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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