September 5th NEX

In yesterday's NEX trading, the Barrel's Bottom Composite index closed at 85.93, down 0.80 points or 0.922% from the previous day's close of 86.73. The BBC Index opened up slightly below yesterday's close, and sank gently as of mid-morning before recovering somewhat in the hour ending just before noon ET. The slump resumed in the early afternoon, which turned into a thud because of a 21-cent drop in the price of Devin Energy Corporation [NEX: DVC.H], which closed at 85 cents/share thanks to two trades totaling 1000 shares as of about 2:22 PM ET. The first 300 shares went for 89 cents/share, and the latter 700 went for the closing price of 85 cents/share. There was one financial institution on each of the sell sides and the buy sides for both trades (ITG and E-Trade, respectively,) so it's impossible to tell whether or not the 1,000 share block was "sold" or "bought." Common sense, though, suggests the former.

As for the last hour, the BBCI partially recovered to close at 85.93, thanks mainly to two stocks: Toba Industries Ltd. [NEX: TBG.H], which went from a 1 cent/share loss to a 1 cent/share gain in the last hour of trading, and Challenger Development Corp. [NEX: CDQ.H], which went from unchanged to a 3.5 cent/share gain in the last half-hour of trading, after dropping to a 2 cent/share loss as of 3:30 PM ET. The rallies in both of these stocks accounted for the bulk of the last hour rally in the Barrel's Bottom Composite index, and for the shaving of the day's loss to 4/5 of a point instead of greater than one point.

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

• 10 AM: 86.67
• 11 AM: 86.42
• 12 PM: 86.47
• 1 PM: 86.35
• 2 PM: 86.25
• 3 PM: 86.56
• 4 PM/Close: 85.93

Thirty-three NEX stocks traded yesterday. Of these, 7 advanced, 9 declined and 17 remained unchanged. There were 86 trades. The top trader in terms of raw volume was Magnate Ventures Inc. [NEX: MGV.H], with a total daily volume of 682,000 shares. Magnate had only four trades yeaterday: what put it at the top was a monster trade of 491,000 shares, at 29 cents/share, made at about 11:47 AM ET. This trade was both the first of the day for MGV.H and the one at the lowest price: the three others, all with five-figure volumes, went for 30 cents/share. All of them were more than enough to put Magnate in the top spot of stocks traded as measured by value of stock traded. As was the case with a huge trade in Challenger on Tuesday, the value of the MGV.H trade of 491,000 shares - $142,390 - was greater than the value of the entire day's value of the stock in the #2 slot, Focus Ventures [NEX: FCV.H]. Focus had a day's total of $57,600, according to the TSX Venture closing summary for yesterday. It was largely the monster trade which put Magnate way up on top in the Top Ten list of volume as a percentage of total [tradable] shares outstanding, found at the bottom of this entry. More than 25% of MGV.H's free-trading shares changed hands yesterday.

There was one NEX company mentioned in the TSX Venture Exchange Daily Bulletins for yesterday. Trading in the shares of Virtual China Travel Services Co. Ltd. [NEX: CTX.H] will remain halted until the company hands in proper documentation for a reverse takeover, of Melco China Resorts, announced last August 22nd. This detailed news release, from Canjex Publishing, spells out the Melco deal.

One Marketwire press release was issued yesterday at about noon, by Rocher Deboule Minerals Inc., which announced the hiring of Fuller, Fletcher & Associates for European investor relations. The issuance of incentive options was part of the deal: 200,000 of them to purchase RD.H. stock at 55 cents/share. This options grant is part of a compensation package to FF&A that also includes a payment of $6,000/month in cash for a year. The lifetime of the options was not specified in the announcement. There was also one (unique) report from Canjex Publishing, courtesy of Stockwatch, which disclosed a change in directorship for International X-Chequer Resources Inc. [NEX: IXR.H]. Edward Farruto has been appointed to the company's board, "effective immediately." X-Chequer released the report last evening, after the market closed. Rocher [NEX: RD.H] closed at 51 cents/share yesterday, down 4 cents/share from Tuesday's close, and X-Chequer closed at 57 cents/share, up 2 cents/share from Tuesday's close.

No NEX stocks traded more than ten times yesterday, an indication (like the two-digit number of trades) that yesterday's trading was light in terms of number of trades, even though large-valued trades trading contributed to a "moderate" day in terms of value according to the TSX Venture Daily Summary. Another of them was one of 100,000 shares of BHR Buffalo Head Resources that were exchanged at 12 cents/share, a price equal to Tuesday's closing. This one trade was enough for BHR to edge out the #2 stock in terms of raw volume, Focus Ventures, from the #2 slot on the Top Ten list of most actives in terms of daily share turnover, found at the bottom of this entry. BHR resumed trading Tuesday, after a hiatus of about five years.

The top percentage gainer in yesterday's trading was Lomiko Resources Inc. [NEX: LMR.H], which closed at 36 cents/share, up 8 cents/share or 28.57% on the day. There were two trades in the stock that accounted for this gain, both totaling 10,500 shares. The largest one, for 10,000 shares at about 9:51 AM ET, went for 31 cents/share; the other one, of 500 shares, pushed the price up to the 36 cents/share closing. Lomiko made #8 on the Top Ten list of actives as gaugued by percentage of TSO, found just below.

The top percentage decliner yesterday was Moneta Resources Inc. [NEX: MOT.H], which closed at 14.5 cents/share, down 5.5 cents/share or 27.5% on the day. Like Lomiko, Moneta had two trades yesterday, one much larger than the other. Unlike Lominko, though, the two trades of Moneta were executed at the same time, about 2:02 PM ET, and both had E-Trade on the sell side. The large trade of 1,000 shares put MOT.H at its closing value. The next, smaller one, done at 12.5 cents/share, was only 150 shares - a size insufficient for a board lot, so it wasn't counted as a price changer.

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

1. Magnate Ventures Inc. [NEX: MGV.H] - 25.5% of total shares outstanding;
2. BHR Buffalo Head Resources Ltd. [NEX: BHR.H] - 2.31% of TSO;
3. Focus Ventures Ltd. [NEX: FCV.H] - 1.76%;
4. International CHS Resource Corporation [NEX: ICJ.H] - 0.881%;
5. Tapestry Resource Corp. [NEX: TPR.H] - 0.533%;
6. Emergence Resort Canada Inc. [NEX: ERS.H] - 0.307%;
7. Toba Industries Ltd. [NEX: TBG.H] - 0.301%;
8. Lomiko Resources Inc. [NEX: LMR.H] - 0.278%;
9. Datinvest International Ltd. [NEX: DAI.H] - 0.240%;
10. International LMM Ventures Corp. [NEX: LMM.H] - 0.234%.

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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