Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 87.24
- 11 AM: 86.87
- 12 PM: 86.77
- 1 PM: 86.82
- 2 PM: 86.92
- 3 PM: 86.92
- 4 PM/Close: 87.41
Twenty-six NEX stocks traded today. Of these, 7 advanced, 9 declined and 10 remained unchanged. There were 106 trades. The top trader in terms of raw volume was Rose Marie Resources Ltd. [NEX: RSR.H], with 495,000 shares traded today. This amount resulted from two factors: first of all, the trades tended to have high volumes of shares. All of RSR.H's trades today had five-figure volumes, and one of them had a six-figure volume. Secondly, RSR.H traded twelve times today. Interestingly, all of the trades were at exactly the same price, 11 cents/share, leaving Rose Marie unchanged at the close. The relative lowness of RSR.H's price put it in the #2 slot for value of shares traded today, according to the other Barrel's Bottom report and the TSX Venture closing summary. Monster Uranium Corp. [NEX: MU.H] took the #1 spot, with Rose Marie close behind. Rose Marie also placed first on the top-ten list of volume traded divided by total shares outstanding, found below, with an unusually high double-digit percentage of total (free-trading) shares outstanding traded today. Monster Uranium placed fifth.
There were two news releases from NEX companies that were picked up by Marketwire today. First of all, Treat Systems [NEX: TSZ.H] has announced plans for a change of business, into silver mining. Pursuant to this change, Treat is changing its name to Mega Silver, a change that has already been approved by shareholders at the last annual meeting. According to the report, "Treat intends to re-activate by completing the change of business." It also intends to move from the NEX to Tier 2 of the Venture Exchange. The news release, one not intended to be disseminated to the United States, goes into some detail on the reactivation plan. A much briefer news release comes from Strategic Metals, which also pertains to Treat: Strategic has optioned three properties, the Uno, Jake and Rogue silver properties, to Treat (or Mega Silver.) Payment is to be made in two stages: $200,000 cash and 100,000 shares of Treat upon regulatory approval, and $3 million in "work expenditures" on the properties over two years, with a minimum of $1 million spent in the first year, and 1 million common shares of Treat, for each property that Strategic turns over to Treat.
No NEX companies were mentioned in today's TSX Venture Daily Bulletins.
On the other hand, there were three NEX companies that sent out releases today through Canjex Publishing, as well as one that did so last night. Two of these announcements were for regular news items, including the one from last night: Challenger Development Corp. [NEX: CDQ.H] has taken on a fourth director, Simon Tam, onto its board. Challenger closed unchanged today at 39 cents/share. The other news item, announced this afternoon after trading ended, came from Silvio Ventures [NEX: SIV.H]. Silvio announced that it has broken off talks to acquire Frontenac Ventures, for this reason: "Since entering into the agreement in [principle] on May 23, 2007, the company and Frontenac have been unable to settle certain terms of the definitive agreement for the proposed acquisition." The rest of the release states that Silvio will continue to look for new acquisitions so as to "complete a reactivation transaction," and that it will "immediately" request a rescinding of the trading halt currently in place. This announcement comes within a week of William J. Radvak being appointed CEO and CFO of the company.
The other two releases announced the filing of financial statements. Match Capital [NEX: MHC.H] has filed its interim financial statements [PDF file] and an accompanying M D & A [another PDF file] for the third quarter of this fiscal year. Match had no revenue during the latest quarter, even though it did have some from the same quarter last year. Its loss widened this last quarter, to one cent/share, because of the sale of some marketable securites held by it that had to be marked down. Its working capital has doubled from the same time period last year. Match didn't trade today; its last close, of 28 cents/share, is as of September 10th.
The second set of financial statements comes from the above-mentioned Surge Resources [NEX: SRH.H]. Surge has filed its annual report [PDF file], a separate file containing its audited financial statements [another PDF] and a third file containing its M D & A [yet another PDF file]. Its net loss doubled this year in dollar terms, although both years were reported as losses of 1 cent/share due to rounding. Surge's only revenue came from interest income, which rose somewhat from last fiscal year despite an overall shrinkage of revenue due to there being no gains from sale(s) of assets this year. The main gain in expenses that pushed up the loss was in the "professional fees" account. According to the M D & A, Surge is in the middle of acquiring "a 100% interest in four exploration prospecting licenses granted by the Government of Papua New Guinea" from Transeuro Energy Corp. Once completed, an additional 30 million shares, at a deemed value of $25.5 million or 85 cents/share, will be issued in exchange for the licenses and the associated seismic data, at which point the funds raised from an earlier offering of 12 million "subscription receipts" will be released from escrow. Surge closed at $1.50/share today, up 7 cents/share from yesterday's close. The annual report was disseminated after the close of trading today.
Three NEX stocks traded more than ten times today. The most frequent trader was Rocher Deboule Minerals Inc. [NEX: RD.H], as it was yesterday; today, Rocher traded 28 times. After starting off in the 54-55 cents/share range, RD.H dropped to 50 cents/share by late morning, with an odd-lot trade of 347 shares going for 47 cents/share at about 11:21 AM ET. Two other odd lots went for that same price at about 11:45 and 11:52 AM ET. Interestingly enough, those two lots, of 318 and 217 shares respectively, were bought through the same financial institution: Raymond James. No board-lot-size trade went that low today, although one of 15,000 shares went for 49 cents/share as of about 3:17 PM ET. Despite the hang-around at the 50-cent/share level for most of the day, a single board lot (500 shares) went for 54 cents/share at about 3:20 PM ET. Since this trade was the last of the day, Rocher managed to close unchanged. Rocher made #8 on the top-ten list of volume traded as measured by daily turnover, found below.
The other two NEX stocks that traded more than ten times today are both mentioned above: Rose Marie, with 12 trades, and Surge Resources with 11. Rose Marie's flatlining in terms of price has already been noted above. Surge also flatlined for most of the day, at $1.40/share, until two trades, of 3,000 and 5,000 shares respectively, at $1.43/share, were made at about 1:41 and 2:42 PM. These two were followed by one more at $1.40; the last trade, of 1,000 shares, pushed the price up to the day's closing of $1.50/share. Surge made #10 on the top-ten daily-turnover list found just below.
The top percentage gainer in today's trading was Electrohome Limited class 'Y' non-voting [NEX: ELL.K], which closed at 15 cents/share for a gain of 5 cents/share or 50% on the day. One trade of 15,000 shares, at about 9:44 AM, put ELL.K on the top of the gainers list.
The top percentage decliner for today was Global Tree Technologies Inc. [NEX: GTT.H], which closed at 1.5 cents/share for a loss of 0.5 cents/share or 25%. As with Electrohome, one trade in GTT.H did it: 25,000 shares of Global Tree at about 11:19 AM ET.
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] - 12.9% of total shares outstanding;
- Magnate Ventures Inc. [NEX: MGV.H] - 1.16% of TSO;
- Avigo Resources Corp. [NEX: TMX.H] - 1.10%;
- BHR Buffalo Head Resources Ltd. [NEX: BHR.H] - 1.04%;
- Monster Uranium Corp. [NEX: MU.H] - 0.910%;
- Focus Ventures Ltd. [NEX: FCV.H] - 0.541%;
- Golden Hat Resources Inc. [NEX: GHA.H] - 0.525%;
- Rocher Deboule Minerals Corp. [NEX: RD.H] - 0.452%;
- Datinvest International Ltd. [NEX: DAI.H] - 0.288%;
- Surge Resources Inc. [NEX: SRH.H] - 0.228%.
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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