For the rest of today's trading, except for secondary reactions to the overall trend, the BBCI went downwards. Every minute from 9:40 AM ET to 12:41 PM ET saw the index either staying at the same level or declining; it wasn't until the latter time that a slight reversal of the downward trend, lasting about 22 minutes, made an appearance. Abitibi itself added to the downdraft as of about 11:24 AM ET with a two-cent drop to its level as of yesterday's closing. 1:32 PM saw the BBCI slice through 86, the level at which it bottomed out more than fifty minutes earlier. Once again, the downdraft continued, not breaking until about four minutes preceding the last hour of trading.
For the next hour, a countertrend did develop, pushing the BBCI up towards close to positive territory for the day, but this climb vanished in the last four minutes of trading. Emergence dropped a cent, to close at 35 cents/share with a gain on the day of 1 cent/share, and Rocher Deboule [NEX: RD.H] dropped 2 cents/share, between 3:37 and 3:58 PM ET. Those two were the main decliners pushing the BBCI down in the last several minutes of trading to its closing level of 85.71. RD.H closed at 48 cents/share, up 3 cents/share on the day, and was the last-hour gainer that pushed the BBCI up somewhat in the late afternoon, overpowering two decliners.
Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:
- 10 AM: 86.54
- 11 AM: 86.37
- 12 PM: 86.17
- 1 PM: 86.05
- 2 PM: 85.85
- 3 PM: 85.77
- 4 PM/Close: 85.71
Thirty-four NEX stocks traded today, the same number as yesterday. Of today's 34, 10 advanced, 10 declined and 14 remained unchanged. There were 127 trades. The top trader in terms of raw volume was Toba Industries Ltd. [NEX: TBG.H] again, with 243,000 shares traded today in eleven trades. Toba narrowly beat Golden Hat Resources Inc. [NEX: GHA.H] for the top spot, by 2,000 shares. The other Barrel's Bottom report and the TSX Venture closing summary both named Toba as today's top trader in terms of value of shares traded, beating out Emergence for the top spot. Toba placed sixth on the top-ten list of volume traded divided by total shares outstanding, found below; Golden Hat placed fourth, and Emergence placed first.
There was one news release from a NEX company that was picked up by Marketwire today, just like yesterday. Today's sole release through Marketwire came from New Meridian Mining Corp. [NEX: NWM.H] and it announces a 3-for-1 consolidation of New Meridian shares. Unlike the typical consolidation, though, this one is accompanied by a change in symbol: New Meridian's new symbol will be NWC.H. NWM.H last traded on September 18th, when it closed at 12.5 cents/share.
The announcement of the NWM.H/NWC.H symbol change appears as the third of three bulletins from NEX companies at the bottom of today's TSX Venture Daily Bulletins. The other two come from Arcland Resources Inc. [NEX: ADR.H] and new NEX entrant Biomerge Industries Ltd. [NEX: BIL.H]. Arcland's bulletin announces a 3.2-million-share private placement, at 10.5 cents/share, with six anonymous placees. None of them were Arcland insiders or pros. $336,000 was raised. Arcland didn't trade today; its last close, on Sept. 21st, was at 15.5 cents/share. Canjex Publishing has a webbed copy of this bulletin. Biomerge's announces that it will be listed on the NEX starting tomorrow morning.
Four other news items were sent out through Canjex today. The first one came from Shaw Communications [TSX: SJR.A, SJR.B] and concerns Consolidated Global Cable Systems Inc. peripherally. Shaw's request to carry the USA Network was turned down by the CRTC. "The Canadian Radio-television and Telecommunications Commission turned down the application on Sept. 19, citing the need to protect Mystery TV, which airs three of the same programs." The bulk of the news release contains the President of Shaw's reaction to the decision as well as the particulars of it. GCH.H didn't trade today; its last board-lot trade took place on Sept. 13th, when it closed at 17 cents/share.
The second release comes from Exchequer, and it announces a $50,000 private placement of 454,545 units, containing one share and a purchase warrant with exercise price of 14 cents/share and life of 1 year, for 11 cents/share each. As noted above, Exchequer closed at 19 cents/share, up 5 cents/share, on one trade. The volume was 8,000 shares.
Another private placement is the subject of another brief news release from Gold Star Resources Corp. - specifically, the cancellation of one. The entrire text of the release reads: "Gold Star Resources Corp.'s brokered private placement with Northern Securities Inc. to raise up to $1.15-million on a best-efforts basis by way of a private placement units offering has been mutually cancelled." Gold Star's close on the NEX Board today left its share price unchanged: 15 cents/share, on volume of 60,000 shares.
The fourth and final release from Canjex today is another brief one, from Cierra Pacific Ventures Ltd. [NEX: CIZ.H]. The company has appointed Zeny Manalo to its board of directors, to replace former director David Bailey. Mr Bailey resigned; no reason (or any other information) about his resignation is given in the release. CIZ.H didn't trade today either; its last close, on Sept. 20th, was at 20 cents/share.
Two NEX stocks traded more than ten times today. The most numerous trader, with 18 trades today, is an increasingly familiar name in this category: Silvio Ventures Inc. [NEX: SIV.H]. Unlike yesterday, there were six board-lot-sized trades in SIV.H, and two with four-figure volumes: total volume cracked five digits at 10,396 shares. Except for the last one of 1,000 shares at 53 cents/share, as of about 3:44 PM, the board-lot trades all went for 52 cents/share today. The odd-lotters all went at 49 cents/share.
The second most numerous NEX trader today was Toba Industries, mentioned above as the number one in the raw-volume category. All but two of the 11 trades in Toba today were for five-figure volumes; all but one, of 12,500 shares at 11 cents/share as of about 10:35 AM ET, went at 11.5 cents/share. Six of the eleven were made between 3 PM ET and the closing.
The top percentage gainer in today's trading was the above-mentioned Exchequer Resource Corp, which closed with a gain of 5 cents/share or 35.71% on that one trade also mentioned above. The top percentage decliner for today was eReservation Systems Corp [NEX: RSS.H], which closed at 12 cents/share, for a drop of 3 cents/share or 20%. Six trades, over the space of a little less than an hour, pushed RSS.H down. Although these trades were made between about 1 PM ET and 1:53 PM ET, all six had Canaccord as the sell-side financial institution. Three of those trades were of board-lot size; three were odd-lotters. The volume was an unrounded 11,180 shares, suggesting that the trades weren't part of a single block.
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] - 1.49% of total shares outstanding;
- Gold Star Resources Corp. [NEX: GXX.H] - 0.783% of TSO;
- Champlain Resources Inc. [NEX: CPL.H] - 0.759%;
- Golden Hat Resources Inc. [NEX: GHA.H] - 0.698%;
- Rose Marie Resources Ltd. [NEX: RSR.H] - 0.454%;
- Toba Industries Ltd. [NEX: TBG.H] - 0.444%;
- HTI Ventures Corp. [NEX: HTX.H] - 0.406%;
- Challenger Development Corp. [NEX: CDQ.H] - 0.241%;
- ITI World Investment Group Inc. class 'A' [NEX: IWI.H] - 0.175%;
- 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.
TSX Nex Home Page
No comments:
Post a Comment