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.
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