September 4th NEX

[NOTE: Due to a careless error on my part, I included a stock that didn't trade at all in the previous version of the top-ten list of stocks traded as a percentage of free-trading shares, found at the bottom. This mistake has been corrected, as has the list itself and the relevant references to it in the text of this entry. Apologies to any that were misled as a result of that mistake.]

In yesterday's NEX trading, the Barrel's Bottom Composite index closed at 86.73, up 0.33 points or 0.382% from last Friday's close of 86.40. The BBC Index got off on a slight gain, which vanished later in the morning, turning into a slump of 0.19 points from Friday's close as of 1 PM. This slump resulted from drops in several stocks, counteracted by a few gainers. As the afternoon went into late afternoon, though, the BBC Index began reversing the earlier drop. It pulled up to barely positive territory by 2 PM; the rally continued for the rest of the afternoon to end with the 0.33-point closing gain. The resumption of BHR Buffalo Head Resources [NEX: BHR.H] as a trading issue added a boost to the BBCI: its first and only trade of the day, of 12,000 shares at about 2:20 PM ET, saw a price of 12 cents/share - considerably above its previous tabular price for the index. Buffalo Head made the #9 spot in the Top Ten list of most active traders as a percentage of total shares outstanding, found at the bottom of this entry.

Here are the values for the Barrel's Bottom Composite for the NEX, hour by hour:

• 10 AM: 86.47
• 11 AM: 86.33
• 12 PM: 86.38
• 1 PM: 86.21
• 2 PM: 86.45
• 3 PM: 86.63
• 4 PM/Close: 86.73

Thirty-two NEX stocks traded yesterday. Of these, 10 advanced, 10 declined and 12 remained unchanged. There were 117 trades. The top trader in terms of raw volume was Challenger Development Corp. [NEX: CDQ.H], with a total daily volume of 682,000 shares. Despite the briskness of trading in CDQ.H, the bulk of the volume was accounted for by a 500,000 share trade, at 40 cents/share. The shares and money were exchanged at about 3:20 PM ET; Canaccord was the financial institution on both sides of the trade. The value of this trade - $200,000 - was greater than the entire daily value of the next-highest traded stock according to the TSX Venture closing summary for yesterday. Challenger was also #1 in terms of value of stock traded yesterday, as well as #1 on the top-ten list at the bottom of this entry, with an unusually high daily-turnover ratio. Also unusual is the fact that the top-ten traders lists for raw volume, value and daily turnover all had Challenger and Focus Ventures Ltd. in the #1 and #2 spots.

There was one NEX company mentioned in the TSX Venture Exchange Daily Bulletins for yesterday. Lomiko Resources Inc. [NEX: LMR.H] is set on issuing 1,000,000 flow-through shares and another 1,000,000 non-flow-through shares, to be privately placed in the hands of seven placees at a price of 25 cents/share. Also part of the private placement are purchase warrants, each good for the purchase of 1 share, with an exercise price of 32 cents/share and life of 1 year. LMR.H didn't trade yesterday; its last close was 28 cents/share.

One Marketwire press release was issued last evening, by Rocher Deboule Minerals Inc., which announced an intention to grant a total of 2,075,000 management stock options with five-year life and strike price of 55 cents/share. Over at Canjex Publishing, courtesy of Stockwatch, Golden Hat Resources [NEX: GHA.H] announced yesterday morning that their exploration contractor, Aurora Geosciences Ltd, is going to launch a confirmatory geochemical survey to test the findings of an airborne anomaly survey done earlier by Iris Remote Sensing Systems Ltd. Also from Canjex, a briefer item, announced last night: Arcland Resources [NEX: ADR.H] has added Zhuanying Zhang to its board of directors, following the resignation of now-former director Guangchi Wang. Golden Hat closed at 5.5 cents/share yesterday, up 0.5 cents/share since last Friday's close; Arcland closed at 21 cents/share, down 4.5 cents/share. The latter made #5 on the top-ten daily-turnover list, found below.

Two NEX stocks traded more than ten times yesterday. The most numerous trader, with 22 trades, was the above-mentioned Challenger Development, giving it another #1 spot. It started trading at about 11:41 AM ET, with seven trades coming in a little more than two minutes. This burst pushed CDQ.H's price from 36 cents/share to 39.5 cents/share. It reached 40 cents/share by 1:41 PM ET, and stayed there until a half an hour before the close. The huge trade of 500,000 shares was third out of seven trades that all went for 40 cents/share in the late afternoon. The last half-hour saw two more trades, both at 39 cents/share, CDQ.H's closing price.

The second most numerous NEX trader, with twenty-one trades, was Focus Ventures Ltd. [NEX: FCV.H]. Its price pattern yesterday was a rough mirror image of Challenger's. The first trade was at about 12:50 PM ET, at 51 cents/share. From that level, FCV.H sunk quickly to 48 cents/share, the level at which it stayed for the rest of the trading day except for one trade of 15,000 shares at 45 cents/share, made at about 1:44 PM ET. There were several five-figure trades of FCV.H in terms of volume, but no six-figure ones. The largest trade was 50,000 shares, at about 2:21 PM; the second-largest was 40,000 shares, at about 2:14 PM. Both went for 48 cents/share. FCV.H closed at that same 48 cents/share level, down 5 cents/share from last Friday's close. In addition to being the second-most numerous trading issue on the NEX, it was #2 on the top-ten list of traders, both in terms of raw volume and of value as linked to above, as well as #2 on the list found below. (If you're interested, all but one of those trades in FCV.H had "Anonymous" as the sell-side institution.)

The top percentage gainer in yesterday's trading was The Silver Recycling Company Inc. [NEX: TSR.H], which closed at 30 cents/share, up 3.5 cents/share or 13.21% on the day. The second of two trades in TSR.H yesterday, of 2,500 shares at the close price, bumped TSR.H's gain to the top spot.

The top percentage decliner yesterday was Global Tree Technologies [NEX: GTT.H], which closed at 1.5 cents/share, down 1 cent/share or 40%. This drop took place through six trades. Four of them (unsurprisingly, given the price of GTT.H) were for five-figure volumes of stock. The last two trades were part of a block of 100,000 shares, with BMO Nesbitt Burns as the sell-side financial institution; both trades went for the closing price of 1.5 cents. Global Tree has basically flatlined for the past year, although yesterday's close was 0.5 cents away from the 52-week low of 1 cent/share; the 52-week high is 5.5 cents/share. Global Tree made spot #8 on the top-tem list found just below.

Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares, or daily turnover:

1. Challenger Development Corp. [NEX: CDQ.H] - 5.41% of total shares outstanding;
2. Focus Ventures Ltd. [NEX: FCV.H] - 3.66% of TSO;
3. Emergence Resort Canada Inc. [NEX: ERS.H] - 1.05%;
4. Rose Marie Resources Ltd. [NEX: RSR.H] - 0.857%;
5. Arcland Resources Inc. [NEX: ADR.H] - 0.756%;
6. Isee3d Inc. [NEX: ICT.H] - 0.560%;
7. Gold Star Resources Corp. [NEX: GXX.H] - 0.392%;
8. Global Tree Technologies Inc.[NEX: GTT.H] - 0.292%;
9. BHR Buffalo Head Resources Ltd. [NEX: BHR.H] - 0.277%.
10. International CHS Resource Corporation [NEX: ICJ.H] - 0.264%;

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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