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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