This blog is going to be put on hold until the new year - specifically, until January 2nd of 2008. There are two reasons why I'm shutting it down for the rest of the year:
1. I have a data-gathering chore that's going to take about that much time for me to complete. I thought I could do it on the side, but the operation of this blog and the Stockhouse one take too much time for me to do so. Rather than let it dangle, I've decided to get the rest of it done all at once. The result won't show in any new features in either blog, but it will show in occasional research reports.
This won't mean I'll be ignoring the NEX action from Monday to the end of December, though, In part, reason #2 explains why:
2. Okay, I've opened up a brokerage account. Although I believe that I'm sufficiently habituated to the format established in both blogs to keep my objectivity, it seems better to get player-time out of the way while the blogs are on hold, especially since the task identified in reason #1 is still hanging over my head. If I still have money in the NEX-board market by January 2nd, I will disclose it.
Since I'll still be watching, there won't be any 'back from vacation' fillips in the reports once they resume. Plus, as I indicated, I'll be keeping up with the contemporaneous NEX data during the rest of this month and all of next month. A 'working vacation' it will be - I'm quite sure of it.
Note: In an earlier post, which I've deleted, I may have indicated or said that the previous hiatus will be the final one. The above explains why I've shifted course.
[Cross-posted at the Barrel's Bottom Blog over at Stockhouse, with appropriate edits.]
Saturday, November 3, 2007
NEX Report for November 2, 2007
On Friday, the Barrel's Bottom Composite Index for the NEX closed at 90.31, up 0.19 points or 0.211% from its previous close of 90.12. Despite the fact that it was almost completely an up day for the BBCI, the index fell more than a tenth of a point in the first minute of trading, to below 90. A 0.5 cent/share opening decline in Sharpe Resources Corporation [NEX: SHO.H] and a 1 cent/share opening decline in the price of Stone Mountain Holdings Inc. [NEX: SMO.H] combined to put the index at 89.98 as of 9:31 AM ET, where it remained until 9:33 AM ET. This level marked the low of the day.
It was a 1 cent/share opening gain in the price of Golden Hat Resources Inc. [NEX: GHA.H], again the NEX board's most active trader of the day, that pushed the BBCI up above 90 again. A 3 cent/share opening rise in the price of Monster Uranium Corp. [NEX: MU.H] as of about 9:39 AM ET, and a 3.5 cent/share gain in the price of Washmax Corp. [NEX: WMC.H] as of about 9:42 AM ET, both pushed the index up above 90.2 as of the latter time. The BBCI stayed between 90.19 and 90.25 until 10:36 AM ET, when 90.3 was broken due to a 1 cent/share recovery in the price of Stone Mountain. 90.4 was broken in the next minute because of a further 1 cent/share advance in the same stock.
After a reversal down to almost 90.3 as of 11:09 AM ET, which lasted for two minutes, the BBCI more than recovered; 90.5 was broken through as of 11:20 AM ET thanks to a 2.5 cent/share interday gain in Washmax. After sinking to just below 90.5, the index leapt up above 90.7 as of 11:59 AM ET because of a 5.5 cent/share opening leap in infrequently-traded Prism Resources [NEX: PRS.H] on its first and last trade of the day. A 2 cent/share interday decline in the price of Trilogy Metals Inc. [NEX: TRI.H] as of about 12:03 PM ET, which put TRI.H back to unchanged, lowered the BBCI from 90.77 to 90.71. This pullback proved to be a long pause, though, in preparation for the index to briefly break above 90.8 as of 12:43 PM ET and to make its daily high of 90.87 as of 12:45 PM ET. The high lasted until 12:50 PM ET, after which an afternoon drop started.
A 5 cent/share opening decline in the price of Maximum Ventures Inc. [NEX: MVI.H] on its first and last trade of the day knocked the index down to 90.53. By 1:00 PM ET, the decline had continued down below 90.4. An hour later, the BBCI was at 90.33. By 2:12 PM ET, a mid-afternoon recovery began, which took the BBCI all the way back to above 90.7 by 2:38 PM ET. This recovery failed to hold, though, despite a second attempt to rise durably above 90.7 as of 3:17 PM ET, and the BBCI found itself at 90.57 as of 3:27 PM ET. It remained at that level until a couple of last-minute declines in International Alliance Resources Inc. [NEX: ALL.H], of 2 cents/share as of about 3:57 PM ET and of a further 3.5 cents/share as of 3:58 PM, lowered the BBCI to its closing value of 90.31.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
It was a 1 cent/share opening gain in the price of Golden Hat Resources Inc. [NEX: GHA.H], again the NEX board's most active trader of the day, that pushed the BBCI up above 90 again. A 3 cent/share opening rise in the price of Monster Uranium Corp. [NEX: MU.H] as of about 9:39 AM ET, and a 3.5 cent/share gain in the price of Washmax Corp. [NEX: WMC.H] as of about 9:42 AM ET, both pushed the index up above 90.2 as of the latter time. The BBCI stayed between 90.19 and 90.25 until 10:36 AM ET, when 90.3 was broken due to a 1 cent/share recovery in the price of Stone Mountain. 90.4 was broken in the next minute because of a further 1 cent/share advance in the same stock.
After a reversal down to almost 90.3 as of 11:09 AM ET, which lasted for two minutes, the BBCI more than recovered; 90.5 was broken through as of 11:20 AM ET thanks to a 2.5 cent/share interday gain in Washmax. After sinking to just below 90.5, the index leapt up above 90.7 as of 11:59 AM ET because of a 5.5 cent/share opening leap in infrequently-traded Prism Resources [NEX: PRS.H] on its first and last trade of the day. A 2 cent/share interday decline in the price of Trilogy Metals Inc. [NEX: TRI.H] as of about 12:03 PM ET, which put TRI.H back to unchanged, lowered the BBCI from 90.77 to 90.71. This pullback proved to be a long pause, though, in preparation for the index to briefly break above 90.8 as of 12:43 PM ET and to make its daily high of 90.87 as of 12:45 PM ET. The high lasted until 12:50 PM ET, after which an afternoon drop started.
A 5 cent/share opening decline in the price of Maximum Ventures Inc. [NEX: MVI.H] on its first and last trade of the day knocked the index down to 90.53. By 1:00 PM ET, the decline had continued down below 90.4. An hour later, the BBCI was at 90.33. By 2:12 PM ET, a mid-afternoon recovery began, which took the BBCI all the way back to above 90.7 by 2:38 PM ET. This recovery failed to hold, though, despite a second attempt to rise durably above 90.7 as of 3:17 PM ET, and the BBCI found itself at 90.57 as of 3:27 PM ET. It remained at that level until a couple of last-minute declines in International Alliance Resources Inc. [NEX: ALL.H], of 2 cents/share as of about 3:57 PM ET and of a further 3.5 cents/share as of 3:58 PM, lowered the BBCI to its closing value of 90.31.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
- 10 AM ET: 90.24
- 11 AM ET: 90.40
- 12 PM ET: 90.77
- 1 PM ET: 90.37
- 2 PM ET: 90.33
- 3 PM ET: 90.48
- 4 PM ET/Close: 90.31
This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during November 1st and the third part covers NEX stocks of note for that day.
[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]
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
[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]
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
News Releases From NEX Companies For November 2nd
There was one news release from a NEX company that was picked up by Marketwire on Friday. The Endurance Fund Corporation [NEX: END.H] announced that it had received qualified approval from the TSX Venture for its Qualifying Transaction, a takeover of North American Uranium Corp., which is expected to close as of November 15th. A private placement is expected to close concurrently. Once done, Endurance plans to apply for transfer to Tier 2 of the Venture Exchange.
There were no bulletins from any NEX company at the bottom of Friday's TSX Venture Daily Bulletins, but there was one from a soon-to-be NEX issue. Everbright Capital Corporation [VSE: EBC.P] is moving to the NEX starting on Monday. As of then, its new symbol will be EBC.H. The company is currently suspended from trading; it last closed at 10 cents/share in the beginning of May. Canjex Publishing has webbed a copy of the bulletin announcing the transfer.
One news release was sent out exclusively through Canjex on Friday. It's a report about the financial troubles that Stone Mountain Holdings Inc. [NEX: SMO.H] has been having - specifically, about its trouble with paying a rather large gas bill. Stone Mountain is being sued by Access Gas Services Inc. for an unpaid bill in the amount of $110,399 for gas provided ever since March of this year. "This should surprise no one. In a press release issued a week before Access filed its lawsuit, Stone Mountain said it was shutting down its business and liquidating the assets of its operating subsidiary Re-Con Building Products Inc. Re-Con owes HSBC Bank Canada $1.4-million, and Stone Mountain will use the proceeds of the liquidation to pay the bank. Louis Clarke, the company's president, also said that while Stone Mountain was a guarantor of subsidiary's debt, it did not expect HSBC would call the guarantee. Perhaps there will be something left over for the gas bill." SMO.H closed on Friday at 2.5 cents/share, down 0.5 cents/share from Thursday's close.
In addition to the above items, there were also SEDAR-filed financial statements announced on Friday:
To read about the highlighted NEX stocks for Friday, you can go here.
There were no bulletins from any NEX company at the bottom of Friday's TSX Venture Daily Bulletins, but there was one from a soon-to-be NEX issue. Everbright Capital Corporation [VSE: EBC.P] is moving to the NEX starting on Monday. As of then, its new symbol will be EBC.H. The company is currently suspended from trading; it last closed at 10 cents/share in the beginning of May. Canjex Publishing has webbed a copy of the bulletin announcing the transfer.
One news release was sent out exclusively through Canjex on Friday. It's a report about the financial troubles that Stone Mountain Holdings Inc. [NEX: SMO.H] has been having - specifically, about its trouble with paying a rather large gas bill. Stone Mountain is being sued by Access Gas Services Inc. for an unpaid bill in the amount of $110,399 for gas provided ever since March of this year. "This should surprise no one. In a press release issued a week before Access filed its lawsuit, Stone Mountain said it was shutting down its business and liquidating the assets of its operating subsidiary Re-Con Building Products Inc. Re-Con owes HSBC Bank Canada $1.4-million, and Stone Mountain will use the proceeds of the liquidation to pay the bank. Louis Clarke, the company's president, also said that while Stone Mountain was a guarantor of subsidiary's debt, it did not expect HSBC would call the guarantee. Perhaps there will be something left over for the gas bill." SMO.H closed on Friday at 2.5 cents/share, down 0.5 cents/share from Thursday's close.
In addition to the above items, there were also SEDAR-filed financial statements announced on Friday:
- Nugget Resources Inc. has filed its audited annual financial statements for FY 2007, with accompanying M D & A.
To read about the highlighted NEX stocks for Friday, you can go here.
Nugget Resources Inc. Files Audited Annual Report With SEDAR
Nugget Resources Inc. [NEX: NUG.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th. The financials [PDF file] got an unqualified opinion from the auditors.
There was no cash on Nugget's balance sheet for either fiscal year '07 or FY '06. Current assets increased from $1,338 in FY '06 to $3,395, but current liabilities also increased in the same time period, from $103,321 to $161,809. As a result, Nugget's working capital deficit increased from $101,983 to $158,414. Book value decreased from -0.676 cents/share to -1.05 cents/share.
Expenses went from $10,350 to $56,431, with all three expense categories going up. Transfer agent and filing fees went from $5,350 to $8,914; professional fees went from $5,000 to $16,686; and, general and administrative fees went from nil to $30,831 from FY '06 to FY '07. Since there were no other items, losses for each fiscal year equaled the expenses. In per-share terms, the FY '06 loss was 0.0686 cents and the FY '07 loss was 0.374 cents. The $21,223 used in operating activities was made up for by the same amount in advances from related parties, listed on the statement of cash flow as a financing transaction. As note 4 explains, there were two related-party debts of significance, as well as two others. The former two were: "At June 30, 2007 $47,314 (2006 - $27,676) was owed to Drillsearch Energy (Canada) Inc... for expenses paid by Drillsearch on behalf of the Company. At June 30, 2007 $31,800 (2006 - $nil) was owed to Modaven Capital Corporation... - a company controlled by a director - for consulting fees." The latter debt, as note 5 explains, is pursuant to a 2-year management contract made by Nugget with Modaven, for consulting services in exchange for $2,500/month.
The accompanying M D & A [PDF file] starts off by noting that Nugget has no assets of significance, which includes no mining properties or claims, and has no revenues. The rise in expenses is explained as necessiated by the reactivation of the company. (Nugget recently had two cease-trade orders against it revoked, as of October 18th for both of them. There are no more outstanding.) NUG.H still remains suspended by the exchange.
There was no cash on Nugget's balance sheet for either fiscal year '07 or FY '06. Current assets increased from $1,338 in FY '06 to $3,395, but current liabilities also increased in the same time period, from $103,321 to $161,809. As a result, Nugget's working capital deficit increased from $101,983 to $158,414. Book value decreased from -0.676 cents/share to -1.05 cents/share.
Expenses went from $10,350 to $56,431, with all three expense categories going up. Transfer agent and filing fees went from $5,350 to $8,914; professional fees went from $5,000 to $16,686; and, general and administrative fees went from nil to $30,831 from FY '06 to FY '07. Since there were no other items, losses for each fiscal year equaled the expenses. In per-share terms, the FY '06 loss was 0.0686 cents and the FY '07 loss was 0.374 cents. The $21,223 used in operating activities was made up for by the same amount in advances from related parties, listed on the statement of cash flow as a financing transaction. As note 4 explains, there were two related-party debts of significance, as well as two others. The former two were: "At June 30, 2007 $47,314 (2006 - $27,676) was owed to Drillsearch Energy (Canada) Inc... for expenses paid by Drillsearch on behalf of the Company. At June 30, 2007 $31,800 (2006 - $nil) was owed to Modaven Capital Corporation... - a company controlled by a director - for consulting fees." The latter debt, as note 5 explains, is pursuant to a 2-year management contract made by Nugget with Modaven, for consulting services in exchange for $2,500/month.
The accompanying M D & A [PDF file] starts off by noting that Nugget has no assets of significance, which includes no mining properties or claims, and has no revenues. The rise in expenses is explained as necessiated by the reactivation of the company. (Nugget recently had two cease-trade orders against it revoked, as of October 18th for both of them. There are no more outstanding.) NUG.H still remains suspended by the exchange.
Highlighted NEX Stocks For November 2nd
Thirty-five NEX stocks traded on Friday. Of these, 13 advanced, 7 declined and 15 remained unchanged. There were 137 trades. The top trader in terms of raw volume, as it was on Thursday, was Golden Hat Resources Inc. [NEX: GHA.H], with 869,000 shares traded. According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Friday was also Golden Hat. In addition, GHA.H traded the most frequently of any NEX-board stock, as elaborated upon below, as well as first on the top ten daily-turnover list found below. This makes Golden Hat the "stock of the day" for Friday.
Two NEX stocks traded more than ten times on Friday. The most numerous trader in terms of number of trades was, as mentioned just above, Golden Hat; it traded 29 times. The action in GHA.H's trading was much like that of Thursday's: the stock strained at the resistance level of 10 cents/share, sometimes reaching above it but then falling back down; it ended up with a slight gain on the day. As might be expected, there were presumably several large blocks in the trades, as suggested by similarities in timing and buy-side financial institution. The first ten trades, all made from about 9:34 AM ET to 10:36 AM ET, were all made through Wolverton. The first six trades all went within three-and-a-half minutes of each other, but their total volume was 162,000. Based upon the trade record, it seems that there was one block of 160,000 shares or two of 80,000 each, with a 2,000 share trade stuck in between them as the third trade, but the record wasn't definitive on this count. The first six went at 10 cents/share, and the seventh went at 9.5 cent/share. The last four of the ten left a less ambiguous record; they seemed to comprise a single block of 150,000 shares. Those four trades all went at 9.5 cents/share. There also seemed to be: a 50,000-share bought block, comprised of 2 trades both of which went at 10 cents/share, through Canaccord that made up trades twelve and thirteen; a 250,000 share bought block comprised of trades sixteen through twenty, as bought through Scotia at prices of 10, 10, 10.5, 11 and 11 cents/share for each of those trades; a 40,000 share block, composed of trades 23 and 24 as bought through an anonymous financial institution at 10.5 cents/share; and, a 40,000 share block made up of trades 26 and 27, as bought through Canaccord at 10 cents/share. As was the case yesterday, large four-figure-valued trades have seemingly been put into Golden Hat over the last two days - in a few cases, five-figure-valued. The sell-side financial institutions, as was the case yesterday, didn't cluster in a similar unambiguous way beyond (in a few cases) 2-trade clusters, none of which summed up to more than five-figure volumes. This two-day pattern suggests that GHA.H shares are moving from the holders of relatively small positions to buyers of relatively large positions.
The price changes in GHA.H indicate such, although there is still some resistance to a clean break over 10 cents/share. As indicated above, the opening price of Golden Hat shares was 10 cents/share; it stayed at that price for 6 trades. The next five saw a dip to 9.5 cents/share, which went back to 10 cents/share by trade twelve. The next trade went at 10.5 cents/share, but this nudge above 10 cents/share didn't last: the next three went at 10 cents/share. The eighteenth, though, put the price at 10.5 cents/share again, and the following two went at 11 cents/share. This second attempt didn't last either; the next four trades went at 10 cents/share. The one after those four, the last trade of the day, went at 9.5 cents/share; its price equaled the day's low that was set by trades seven to eleven. So, Golden Hat closed at 9.5 cents/share, at its daily low, but nevertheless up 0.5 cents/share on the day. 176,000 shares, or $16,720 worth, traded at 9.5 cents/share; 439,000 shares, or $43,900 worth, traded at 10 cents/share; 160,000 shares, or $16,800 worth, traded at 10.5 cents/share; and, 94,000 shares, or $10,340 worth, traded at 11 cents/share.
Second-highest in number of trades on Friday was still-frequent-trader Trilogy Metals Inc. [NEX: TRI.H], with fourteen of them. The price action in Trilogy was relatively sedate, with the stock opening up unchanged at 90 cents/share. The next five, not including an odd-lot-sized trade of 300 shares at 87 cents/share, went at 92 cents/share; that odd-lotter was the third of the day. The rest of them, though, went at 90 cents/share. So, Trilogy closed at 90 cents/share, unchanged on the day, on daily volume of 40,300 shares - relatively light with respect to the rest of the week.
The top percentage gainer in Friday's trading was Global Tree Technologies Inc. [NEX: GTT.H], which closed at 2 cents/share for a gain of 0.5 cents/share, or 33.33%, on the day. A single trade, of 10,000 shares as of about 3:16 PM ET, set the closing price that put Global Tree at the top of this category.
The top percentage decliner for Friday was International Alliance Resources Inc. [NEX: ALL.H], which closed at 12 cents/share for a decline of 5.5 cents/share or 31.43%. There were only two trades of ALL.H, one of 11,000 shares at 15.5 cents/share and the other of 14,000 shares at 12 cents/share. Both were sold through Canaccord, and both went within seventy seconds of each other, suggesting that a sold block of 25,000 shares depressed the price. The first of the two trades went at about 3:56 PM ET.
Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):
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
Two NEX stocks traded more than ten times on Friday. The most numerous trader in terms of number of trades was, as mentioned just above, Golden Hat; it traded 29 times. The action in GHA.H's trading was much like that of Thursday's: the stock strained at the resistance level of 10 cents/share, sometimes reaching above it but then falling back down; it ended up with a slight gain on the day. As might be expected, there were presumably several large blocks in the trades, as suggested by similarities in timing and buy-side financial institution. The first ten trades, all made from about 9:34 AM ET to 10:36 AM ET, were all made through Wolverton. The first six trades all went within three-and-a-half minutes of each other, but their total volume was 162,000. Based upon the trade record, it seems that there was one block of 160,000 shares or two of 80,000 each, with a 2,000 share trade stuck in between them as the third trade, but the record wasn't definitive on this count. The first six went at 10 cents/share, and the seventh went at 9.5 cent/share. The last four of the ten left a less ambiguous record; they seemed to comprise a single block of 150,000 shares. Those four trades all went at 9.5 cents/share. There also seemed to be: a 50,000-share bought block, comprised of 2 trades both of which went at 10 cents/share, through Canaccord that made up trades twelve and thirteen; a 250,000 share bought block comprised of trades sixteen through twenty, as bought through Scotia at prices of 10, 10, 10.5, 11 and 11 cents/share for each of those trades; a 40,000 share block, composed of trades 23 and 24 as bought through an anonymous financial institution at 10.5 cents/share; and, a 40,000 share block made up of trades 26 and 27, as bought through Canaccord at 10 cents/share. As was the case yesterday, large four-figure-valued trades have seemingly been put into Golden Hat over the last two days - in a few cases, five-figure-valued. The sell-side financial institutions, as was the case yesterday, didn't cluster in a similar unambiguous way beyond (in a few cases) 2-trade clusters, none of which summed up to more than five-figure volumes. This two-day pattern suggests that GHA.H shares are moving from the holders of relatively small positions to buyers of relatively large positions.
The price changes in GHA.H indicate such, although there is still some resistance to a clean break over 10 cents/share. As indicated above, the opening price of Golden Hat shares was 10 cents/share; it stayed at that price for 6 trades. The next five saw a dip to 9.5 cents/share, which went back to 10 cents/share by trade twelve. The next trade went at 10.5 cents/share, but this nudge above 10 cents/share didn't last: the next three went at 10 cents/share. The eighteenth, though, put the price at 10.5 cents/share again, and the following two went at 11 cents/share. This second attempt didn't last either; the next four trades went at 10 cents/share. The one after those four, the last trade of the day, went at 9.5 cents/share; its price equaled the day's low that was set by trades seven to eleven. So, Golden Hat closed at 9.5 cents/share, at its daily low, but nevertheless up 0.5 cents/share on the day. 176,000 shares, or $16,720 worth, traded at 9.5 cents/share; 439,000 shares, or $43,900 worth, traded at 10 cents/share; 160,000 shares, or $16,800 worth, traded at 10.5 cents/share; and, 94,000 shares, or $10,340 worth, traded at 11 cents/share.
Second-highest in number of trades on Friday was still-frequent-trader Trilogy Metals Inc. [NEX: TRI.H], with fourteen of them. The price action in Trilogy was relatively sedate, with the stock opening up unchanged at 90 cents/share. The next five, not including an odd-lot-sized trade of 300 shares at 87 cents/share, went at 92 cents/share; that odd-lotter was the third of the day. The rest of them, though, went at 90 cents/share. So, Trilogy closed at 90 cents/share, unchanged on the day, on daily volume of 40,300 shares - relatively light with respect to the rest of the week.
The top percentage gainer in Friday's trading was Global Tree Technologies Inc. [NEX: GTT.H], which closed at 2 cents/share for a gain of 0.5 cents/share, or 33.33%, on the day. A single trade, of 10,000 shares as of about 3:16 PM ET, set the closing price that put Global Tree at the top of this category.
The top percentage decliner for Friday was International Alliance Resources Inc. [NEX: ALL.H], which closed at 12 cents/share for a decline of 5.5 cents/share or 31.43%. There were only two trades of ALL.H, one of 11,000 shares at 15.5 cents/share and the other of 14,000 shares at 12 cents/share. Both were sold through Canaccord, and both went within seventy seconds of each other, suggesting that a sold block of 25,000 shares depressed the price. The first of the two trades went at about 3:56 PM ET.
Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):
- Golden Hat Resources Inc. [NEX: GHA.H], closed at 9.5 cents for a gain of 0.5 cents - 2.52% of total shares outstanding;
- BHR Buffalo Head Resources Ltd. [NEX: BHR.H], closed at 22 cents for a gain of 3 cents - 1.38% of TSO;
- Stone Mountains Holdings Inc. [NEX: SMO.H], closed at 2.5 cents for a loss of 0.5 cents - 0.716% of TSO;
- Electrohome Limited class 'Y' non-voting [NEX: ELL.K], closed at 15 cents unchanged - 0.451% of TSO;
- Monster Uranium Corp. [NEX: MU.H], closed at 50 cents for a gain of 6 cents - 0.443% of TSO;
- Electrohome Limited class 'X' voting [NEX: ELL.H], closed at 12 cents unchanged - 0.389% of TSO;
- Magnate Ventures Inc. [NEX: MGV.H], closed at 32 cents for a gain of 1.5 cents - 0.324% of TSO;
- Gtech International Resources Limited [NEX: GCH.H], closed at 32 cents for a loss of 3 cents - 0.290% of TSO;
- Trilogy Metals Inc. [NEX: TRI.H], closed at 90 cents unchanged - 0.273% of TSO;
- Washmax Corp. [NEX: WMX.H], closed at 23 cents for a gain of 5.5 cents - 0.273% of TSO [slightly less than #9s, but equalized due to rounding off].
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
Friday, November 2, 2007
NEX Report for November 1, 2007
On Thursday, the Barrel's Bottom Composite Index for the NEX closed at 90.12, up 0.73 points or 0.817% from its previous close of 89.39. Unlike on Wednesday, there was only one mover in the first minute of trading to change the BBCI from its previous closing value. SMC Ventures Inc. [NEX: SMV.H] opened down 0.5 cents/share from its previous closing price on its first trade of the day; the other NEX stocks that traded in the first minute either traded in odd lots or opened unchanged. Thus, the index barely moved in the first minute of trading, from 89.39 to 89.38.
This quiescence didn't last long. After an abortive attempt to rise that was mostly neutralized in the next minute, the BBCI jumped above 89.5 thanks to a 1.5 cent/share interday rise in Golden Hat Resources Inc. [NEX: GHA.H]. Golden Hat was quite active in the first half-hour of trading: by 10 AM ET, it had traded 500,000 shares, more than three-quarters of its daily volume of 665,000 shares. By 9:39 AM ET, the BBCI was just below 89.6, thanks to a 0.5 cent/share opening rise in Toba Industries Ltd. [NEX: TBG.H] in the previous minute's period and a 1 cent/share interday gain in Trilogy Metals Inc. [NEX: TRI.H]. A further 0.5 cent/share interday rise in GHA.H put the index well above 89.6 as of 9:48 AM ET.
The BBCI than took somewhat of a dive, to below 89.4 as of 10:15 AM ET. It had recovered to above 89.5 by 10:20 AM ET, thanks to a 6.5 cent/share opening rise in Becker Gold Mines Ltd. [NEX: BGD.H], and was above 89.6 by 10:38 AM ET. A further 3.5 cent/share interday rise in Becker put the BBCI above 89.7 as of 10:46 AM ET. 89.8 was briefly broken through as of 11:10 AM ET, but this rise lasted only for seven minutes. A more durable rise above that level had to wait until 11:44 AM ET, as prompted by a 1 cent/share interday gain in the price of Rocher Deboule Minerals Corp. [NEX: RD.H]. A slight backtrack was followed by a jump above 89.9 at 11:54 AM ET, which was partially erased a minute later, and another one at about 11:57 AM ET. This latter jump, prompted by a 3 cent/share interday rise in The Silver Recycling Company Inc. [NEX: TSR.H] lasted for 13 minutes. The BBCI didn't durably rise above 89.9 until 12:32 PM ET.
After spending more than an hour and fifty minutes trending between 89.9 and 89.99, the BBCI made a successful run at the 90 level at 2:26 PM ET. It was put at 90.05 by a 5 cent/share interday rise in Becker Gold Mines, which put the stock itself at a 14.5 cent/share gain for the day and equal to its closing value. [As reported in Tuesday's news releases section, Jeffrey Becker resigned from the presidency of the company and was replaced by Gary Freeman ] After hovering just above 90, the index jumped above 90.1 as of 3:36 PM ET. Put there by another 1 cent/share rise in Rocher, the BBCI didn't change at all for the rest of the day, making that level the closing value of 90.12. Unusually, the first minute's value was equal to the day's low, and the closing value was equal to the day's high.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
This quiescence didn't last long. After an abortive attempt to rise that was mostly neutralized in the next minute, the BBCI jumped above 89.5 thanks to a 1.5 cent/share interday rise in Golden Hat Resources Inc. [NEX: GHA.H]. Golden Hat was quite active in the first half-hour of trading: by 10 AM ET, it had traded 500,000 shares, more than three-quarters of its daily volume of 665,000 shares. By 9:39 AM ET, the BBCI was just below 89.6, thanks to a 0.5 cent/share opening rise in Toba Industries Ltd. [NEX: TBG.H] in the previous minute's period and a 1 cent/share interday gain in Trilogy Metals Inc. [NEX: TRI.H]. A further 0.5 cent/share interday rise in GHA.H put the index well above 89.6 as of 9:48 AM ET.
The BBCI than took somewhat of a dive, to below 89.4 as of 10:15 AM ET. It had recovered to above 89.5 by 10:20 AM ET, thanks to a 6.5 cent/share opening rise in Becker Gold Mines Ltd. [NEX: BGD.H], and was above 89.6 by 10:38 AM ET. A further 3.5 cent/share interday rise in Becker put the BBCI above 89.7 as of 10:46 AM ET. 89.8 was briefly broken through as of 11:10 AM ET, but this rise lasted only for seven minutes. A more durable rise above that level had to wait until 11:44 AM ET, as prompted by a 1 cent/share interday gain in the price of Rocher Deboule Minerals Corp. [NEX: RD.H]. A slight backtrack was followed by a jump above 89.9 at 11:54 AM ET, which was partially erased a minute later, and another one at about 11:57 AM ET. This latter jump, prompted by a 3 cent/share interday rise in The Silver Recycling Company Inc. [NEX: TSR.H] lasted for 13 minutes. The BBCI didn't durably rise above 89.9 until 12:32 PM ET.
After spending more than an hour and fifty minutes trending between 89.9 and 89.99, the BBCI made a successful run at the 90 level at 2:26 PM ET. It was put at 90.05 by a 5 cent/share interday rise in Becker Gold Mines, which put the stock itself at a 14.5 cent/share gain for the day and equal to its closing value. [As reported in Tuesday's news releases section, Jeffrey Becker resigned from the presidency of the company and was replaced by Gary Freeman ] After hovering just above 90, the index jumped above 90.1 as of 3:36 PM ET. Put there by another 1 cent/share rise in Rocher, the BBCI didn't change at all for the rest of the day, making that level the closing value of 90.12. Unusually, the first minute's value was equal to the day's low, and the closing value was equal to the day's high.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
- 10 AM ET: 89.59
- 11 AM ET: 89.71
- 12 PM ET: 89.95
- 1 PM ET: 89.93
- 2 PM ET: 89.96
- 3 PM ET: 90.03
- 4 PM ET/Close: 90.12
This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during November 1st and the third part covers NEX stocks of note for that day.
[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]
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
[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]
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
News Releases From NEX Companies For November 1st
There was one news release from a NEX company that was picked up by Marketwire on Thursday, from Silvio Ventures Inc. [NEX: SIV.H] The news release announces the appointment of Doris Meyer as a new director and new CFO of the company. Also, a controllership has been established and James Mackie will be filling it. Current chairman and CEO of Silvio, William Radvak, will remains as chairman and CEO but will step down as CFO. In addition, 250,000 in stock options have been granted, with strike price of 55 cents/share and life of five years. This issuance is subject to regulatory approval. SIV.H closed on Thursday at 56 cents/share, up 1 cent/share on the day.
Four bulletins from NEX companies were at the bottom of Thursday's TSX Venture Daily Bulletins. The first pertains to a trading halt in Avigo Resources Corp. [NEX: TMX.H], issued at 6:02 AM PT or 9:02 AM ET, and the second says that Avigo will remain halted. The company issued a news release during the halt period on Thursday, as described below. Canjex Publishing has webbed copies of both the halt and the continuance of it. TMX.H last closed on Wednesday at 60 cents/share.
The third has details on a private placement by Citadel Gold Mines Inc. [NEX: CGM.H], of 1,454,545 flow-through shares issued at a deemed price of 11 cents/share and 4,250,000 non-flow-through shares at a deemed price of 8 cents/share. There was only one placee for them, insider Dr. Bernard Sherman. Total gross proceeds were about $500,000 - to be exact, $499,999.95. Canjex has webbed a copy of the bulletin here. CGM.H last closed on October 26th, at 12.5 cents/share.
The fourth and final bulletin is a short one, which pertains to The Endurance Fund Corporation Inc. [NEX: END.H]. Its full text reads, "TSX Venture Exchange has accepted for filing the Company's CPC [Capital Pool Company, or "official" shell] Filing Statement dated October 31, 2007, for the purpose of filing on SEDAR." Canjex has a webbed copy here. END.H is currently suspended; it last closed at $1.22/share in May of 2005.
There were four news releases that were sent out exclusively through Canjex on Thursday. The first came from the above-mentioned Avigo, and announces a reverse takeover of/by Carbon Friendly Solutions Inc. (CFS,) "a private environmental company focused on global carbon emission reduction solutions." It currently conducts forestation projects in Poland through a wholly-owned subsidiary; in so doing, CFS generates vendible carbon-tax credits. It currently had gotten 32,809 credits from two reforestation projects in northern Poland, and plans to undertake two more now that leases have been secured for new land on which to tree-plant. "CFS intends to complete the two other afforestation projects in April, 2008, giving CFS approximately 65,000 additional credits during the project cycle period designated for sale in the Kyoto market and post-Kyoto-compliant market." Avigo plans: to issue 8 million common shares at a deemed price of 50 cents/share in exchange for all the shares of CFS; to change its name to Carbon Friendly Solutions Inc.; to bring the three controlling shareholders of CFS onto the board and two of them into top managment; and, to apply for a listing on Tier 2 of the Venture Exchange. An annual meeting will be convened on December 17 to secure shareholder approval of this reverse takeover. TMX.H last closed on Wednesday, at 60 cents/share.
The second release comes from Raptor Capital Corp. [NEX: RCP.H], and it announces a settlement of $395,000 worth of debt owed by Raptor (including accrued interest) in a share swap at a deemed price of 15 cents/share provided that a 20-for-1 consolidation is effected first. The rest of the release notes that Raptor has raised $140,000 by issuing promissory notes whose conversion feature has an exercise price equal to 70% of the above debtholders' settlement price. The consolidation requires regulatory and shareholder approval. RCP.H is currently suspended; it last closed on May 7th at 2 cents/share.
The third release comes from Treat Systems [TSZ.H], and it announces a $8.5 million financing in the form of subscription receipts, as brokered by PI Financial, in the form of 8.5 million subscription receipts at a deemed price of $1.00/receipt. "Each subscription receipt is exercisable for no additional consideration into one unit of Treat upon the satisfaction of certain of Treat release conditions being met. Each unit will comprise one common share and one-half of a warrant. Each whole warrant will be exercisable for one common share of Treat at an exercise price of $1.50 over a two-year term, from the closing date. Gross proceeds are being held in escrow pending satisfaction of the release conditions." The flow-through part, in the amount of $3,025,000, is expected to close concurrently with a transaction that is expected to be a Qualifying one for the purposes of moving to the Tier 2. It also will serve as a change-of-business transaction, to mining under the name Mega Silver Inc. The compensation for PI includes a series of 600,800 broker warrants that will be rendered null and void if Treat does not have access to the funds by December 18th. TSZ.H is currently halted; it last closed at $1.20/share on March 8th.
The fourth and final release disseminated through Canjex comes from International Alliance Resources Inc. [NEX: ALL.H]. It announces Alliance's plans to seek shareholder approval for changing its name and consolidating its shares on a 1-for-5 basis at its upcoming shareholders' meeting. Both of these changes are subject to TSX Venture approval. ALL.H last traded on Wednesday, and closed at 17.5 cent/share on that day.
In addition to the above items, there were also SEDAR-filed financial statements announced on Wednesday, and summarized in this blog for Thursday's report:
Four bulletins from NEX companies were at the bottom of Thursday's TSX Venture Daily Bulletins. The first pertains to a trading halt in Avigo Resources Corp. [NEX: TMX.H], issued at 6:02 AM PT or 9:02 AM ET, and the second says that Avigo will remain halted. The company issued a news release during the halt period on Thursday, as described below. Canjex Publishing has webbed copies of both the halt and the continuance of it. TMX.H last closed on Wednesday at 60 cents/share.
The third has details on a private placement by Citadel Gold Mines Inc. [NEX: CGM.H], of 1,454,545 flow-through shares issued at a deemed price of 11 cents/share and 4,250,000 non-flow-through shares at a deemed price of 8 cents/share. There was only one placee for them, insider Dr. Bernard Sherman. Total gross proceeds were about $500,000 - to be exact, $499,999.95. Canjex has webbed a copy of the bulletin here. CGM.H last closed on October 26th, at 12.5 cents/share.
The fourth and final bulletin is a short one, which pertains to The Endurance Fund Corporation Inc. [NEX: END.H]. Its full text reads, "TSX Venture Exchange has accepted for filing the Company's CPC [Capital Pool Company, or "official" shell] Filing Statement dated October 31, 2007, for the purpose of filing on SEDAR." Canjex has a webbed copy here. END.H is currently suspended; it last closed at $1.22/share in May of 2005.
There were four news releases that were sent out exclusively through Canjex on Thursday. The first came from the above-mentioned Avigo, and announces a reverse takeover of/by Carbon Friendly Solutions Inc. (CFS,) "a private environmental company focused on global carbon emission reduction solutions." It currently conducts forestation projects in Poland through a wholly-owned subsidiary; in so doing, CFS generates vendible carbon-tax credits. It currently had gotten 32,809 credits from two reforestation projects in northern Poland, and plans to undertake two more now that leases have been secured for new land on which to tree-plant. "CFS intends to complete the two other afforestation projects in April, 2008, giving CFS approximately 65,000 additional credits during the project cycle period designated for sale in the Kyoto market and post-Kyoto-compliant market." Avigo plans: to issue 8 million common shares at a deemed price of 50 cents/share in exchange for all the shares of CFS; to change its name to Carbon Friendly Solutions Inc.; to bring the three controlling shareholders of CFS onto the board and two of them into top managment; and, to apply for a listing on Tier 2 of the Venture Exchange. An annual meeting will be convened on December 17 to secure shareholder approval of this reverse takeover. TMX.H last closed on Wednesday, at 60 cents/share.
The second release comes from Raptor Capital Corp. [NEX: RCP.H], and it announces a settlement of $395,000 worth of debt owed by Raptor (including accrued interest) in a share swap at a deemed price of 15 cents/share provided that a 20-for-1 consolidation is effected first. The rest of the release notes that Raptor has raised $140,000 by issuing promissory notes whose conversion feature has an exercise price equal to 70% of the above debtholders' settlement price. The consolidation requires regulatory and shareholder approval. RCP.H is currently suspended; it last closed on May 7th at 2 cents/share.
The third release comes from Treat Systems [TSZ.H], and it announces a $8.5 million financing in the form of subscription receipts, as brokered by PI Financial, in the form of 8.5 million subscription receipts at a deemed price of $1.00/receipt. "Each subscription receipt is exercisable for no additional consideration into one unit of Treat upon the satisfaction of certain of Treat release conditions being met. Each unit will comprise one common share and one-half of a warrant. Each whole warrant will be exercisable for one common share of Treat at an exercise price of $1.50 over a two-year term, from the closing date. Gross proceeds are being held in escrow pending satisfaction of the release conditions." The flow-through part, in the amount of $3,025,000, is expected to close concurrently with a transaction that is expected to be a Qualifying one for the purposes of moving to the Tier 2. It also will serve as a change-of-business transaction, to mining under the name Mega Silver Inc. The compensation for PI includes a series of 600,800 broker warrants that will be rendered null and void if Treat does not have access to the funds by December 18th. TSZ.H is currently halted; it last closed at $1.20/share on March 8th.
The fourth and final release disseminated through Canjex comes from International Alliance Resources Inc. [NEX: ALL.H]. It announces Alliance's plans to seek shareholder approval for changing its name and consolidating its shares on a 1-for-5 basis at its upcoming shareholders' meeting. Both of these changes are subject to TSX Venture approval. ALL.H last traded on Wednesday, and closed at 17.5 cent/share on that day.
In addition to the above items, there were also SEDAR-filed financial statements announced on Wednesday, and summarized in this blog for Thursday's report:
- International Alliance has filed its audited annual financial statements for FY 2007.
- Military Internatioal Ltd. has filed its audited annual financial statements for FY 2007 with accompanying M D & A.
To read about the highlighted NEX stocks for Thursday, you can go here.
Military International Ltd. Files Audited Annual Report With SEDAR
Military International Ltd. [NEX: MI.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th. The financials [PDF file] got an unqualified opinion from the auditors.
There was no cash on the balance sheet for either fiscal year '07 or FY '06. Current assets went from nil in FY '06 to $775 in FY '07. Current liabilities more than doubled, from $144,152 to $324,703; consequently, the working capital deficit went from $144,152 to $323,928. Book value shrunk from -2.16 cents/share to -4.87 cents/share. The $50,835 used in operating activities was covered in full by an increase in the amount due to directors, put in the cash flow statement as a financing activity - the only one. Expenses ballooned from $5,092 in FY '06 to $179,776 in FY '07, pushing the loss per share up from 0.0762 cents to 2.69 cents. Military International has $1,801,664 of tax-loss carry-forwards, $757,422 of which expire in 2008. Note 4 explains that the advances from directors are accrued as loans payable; they have no fixed term of repayment and bear no interest. The $50,835 advance was net of $55,835, shrunk by a $5,000 payment from the company to its directors. The accompanying M D & A [PDF file] explains that the increase in expenses are due to re-activation and an attempt to get listed on the Tier 2 of the Venture Exchange. It also explains that a cease-trade order has been issued against it for failure to file financial statements, which has not been rescinded as of yet even though the financials are up to date as of now. MI.H remains suspended.
There was no cash on the balance sheet for either fiscal year '07 or FY '06. Current assets went from nil in FY '06 to $775 in FY '07. Current liabilities more than doubled, from $144,152 to $324,703; consequently, the working capital deficit went from $144,152 to $323,928. Book value shrunk from -2.16 cents/share to -4.87 cents/share. The $50,835 used in operating activities was covered in full by an increase in the amount due to directors, put in the cash flow statement as a financing activity - the only one. Expenses ballooned from $5,092 in FY '06 to $179,776 in FY '07, pushing the loss per share up from 0.0762 cents to 2.69 cents. Military International has $1,801,664 of tax-loss carry-forwards, $757,422 of which expire in 2008. Note 4 explains that the advances from directors are accrued as loans payable; they have no fixed term of repayment and bear no interest. The $50,835 advance was net of $55,835, shrunk by a $5,000 payment from the company to its directors. The accompanying M D & A [PDF file] explains that the increase in expenses are due to re-activation and an attempt to get listed on the Tier 2 of the Venture Exchange. It also explains that a cease-trade order has been issued against it for failure to file financial statements, which has not been rescinded as of yet even though the financials are up to date as of now. MI.H remains suspended.
International Alliance Resources Inc. Files Audited Annual Financial Statements With SEDAR
International Alliance Resources Inc. [NEX: ALL.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th. The financials [PDF file] got an unqualified opinion from the auditors.
There was no cash listed on the balance sheet for either FY 2007 or FY 2006. Current assets totaled $38,682 in FY '07, up from $29,392 in FY '06. Current liabilities, almost all of which were accounts payable and accrued expenses, went from $1,713,847 in FY '06 to $1,965,967. As a result, the working capital deficit increased from $1,684,455 to $1,918,822. Book value increased from -36.1 cents/share to -8.31 cents/share because of an increase in the weighted average of common shares from 4,566,319 to 22,613,258. This increase was due to a private placement of 18,299,999 shares for net proceeds of $1,145,396 ($1,170,000 gross) near the beginning of FY '07. The book value in dollar terms decreased from -$1,646,612 to -$1,879,675.
Expenses in FY '07 were $223,492, $39,954 less than FY '06's $263,446. $21,439 of that shrinkage was attributed to no stock-based compensation in FY '07, as compared with the same $21,439 in FY '06. The other main cause of the shrinking was a $15,800 decrease in interest and bank charges, to $75,061. A $9,571 write-down of a resource property increased the net loss for FY '07 to $233,063, as compared with that same $263,446 in FY '06. The increase in the number of issued shares was the main reason for the per-share loss shrinking from 5.77 cents/share to 0.986 cents/share. Because there was a $250,505 increase in accounts payable, operating activities actually provided $18,033 in cash during FY '07, as compared with the use of $1,132,063 in FY '06. Because investing activities consumed $19,648 in FY '07, as compared with $15,225 in FY '06, cash went down by $1,615 in the former period to a deficit (overdraft) of $2,109. As specified in Note 3 of the financials, Alliance owns claims in the Yukon Territory, the Hess River Project. Almost all of the money used for investment activities was spent on these claims, for acquisition of more of them ($15,225) and exploration on them ($3,648.) As might be expected, Note 8 discloses that accounts payable includes $241,740 owed to directors or companies controlled by them at the end of FY '07, as compared with $206,345 at the end of FY '06.
Note 10 specifies two option agreements entered into, for a 70% interest in the Parallax Claims and a 51% interest in the Shaver Lake Property. Each of the two are being pursued as potential qualifying transactions for listing on Tier 2 of the Venture Exchange. Alliance intends to pursue a $2,422,000 non-brokered private placement to meet the expenses of their commitments to explore the former property.
There was no cash listed on the balance sheet for either FY 2007 or FY 2006. Current assets totaled $38,682 in FY '07, up from $29,392 in FY '06. Current liabilities, almost all of which were accounts payable and accrued expenses, went from $1,713,847 in FY '06 to $1,965,967. As a result, the working capital deficit increased from $1,684,455 to $1,918,822. Book value increased from -36.1 cents/share to -8.31 cents/share because of an increase in the weighted average of common shares from 4,566,319 to 22,613,258. This increase was due to a private placement of 18,299,999 shares for net proceeds of $1,145,396 ($1,170,000 gross) near the beginning of FY '07. The book value in dollar terms decreased from -$1,646,612 to -$1,879,675.
Expenses in FY '07 were $223,492, $39,954 less than FY '06's $263,446. $21,439 of that shrinkage was attributed to no stock-based compensation in FY '07, as compared with the same $21,439 in FY '06. The other main cause of the shrinking was a $15,800 decrease in interest and bank charges, to $75,061. A $9,571 write-down of a resource property increased the net loss for FY '07 to $233,063, as compared with that same $263,446 in FY '06. The increase in the number of issued shares was the main reason for the per-share loss shrinking from 5.77 cents/share to 0.986 cents/share. Because there was a $250,505 increase in accounts payable, operating activities actually provided $18,033 in cash during FY '07, as compared with the use of $1,132,063 in FY '06. Because investing activities consumed $19,648 in FY '07, as compared with $15,225 in FY '06, cash went down by $1,615 in the former period to a deficit (overdraft) of $2,109. As specified in Note 3 of the financials, Alliance owns claims in the Yukon Territory, the Hess River Project. Almost all of the money used for investment activities was spent on these claims, for acquisition of more of them ($15,225) and exploration on them ($3,648.) As might be expected, Note 8 discloses that accounts payable includes $241,740 owed to directors or companies controlled by them at the end of FY '07, as compared with $206,345 at the end of FY '06.
Note 10 specifies two option agreements entered into, for a 70% interest in the Parallax Claims and a 51% interest in the Shaver Lake Property. Each of the two are being pursued as potential qualifying transactions for listing on Tier 2 of the Venture Exchange. Alliance intends to pursue a $2,422,000 non-brokered private placement to meet the expenses of their commitments to explore the former property.
Highlighted NEX Stocks For November 1st
Thirty-three NEX stocks traded on Thursday. Of these, 13 advanced, 7 declined and 13 remained unchanged. There were 156 trades. The top trader in terms of raw volume was Golden Hat Resources Inc. [NEX: GHA.H], with 665,000 shares traded. This volume was almost four times the volume of the runner-up, Trilogy Metals Inc. [NEX: TRI.H]. According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Thursday was Trilogy, once again. Both Golden Hat and Trilogy traded more than ten times on Thursday, so their daily action is described below. Golden Hat placed first on the top ten daily-turnover list, found below; Trilogy placed third.
Three NEX stocks traded more than ten times on Thursday. The most numerous trader in terms of number of trades was the same as the raw-volume leader, Golden Hat; it traded 25 times. GHA.H leapt right out of the gate on Thursday, even though none of its trades were made within the first minute of trading. Despite the lack of a pre-open build-up, the first half-hour saw seventeen of its trades, comprising 500,000 shares' worth of volume, made. All of those trades, except for one, had five-figure volumes. As might be expected, there seemed to be at least six multi-trade blocks in the record, as they were clustered in terms of time and buy-side financial institution; the first five clusters were 100,000 shares each in totaled volume: a 100,000-share block composed of the first five trades, bought through Canaccord; another 100,000-share block composed of the sixth and seventh trades that was also bought through Canaccord; a 100,000-share block composed of trades eight through ten, bought through an anonymous financial institution; another 100,000-share block composed of trades eleven through fourteen, bought through Canaccord; and, yet another 100,000 share block, composed of trades fifteen though seventeen, that was bought through an anonymous financial institution. Later in the morning and early afternoon, 110,000 shares were bought through National Bank, as comprised of the nineteenth through the twenty-third trades. This last cluster on the buy side may not have been a single block because the last trade went two hours after the first. The last two of those five, though, went at the same time, suggesting a 50,000-share bought block. It's possible that the first three of those five were another 60,000 share block that took some time to execute. There were several presumed sell-side blocks, but they were composed of two trades and most of those doubles were of relatively little volume, except for one two-trade presumed block that was sold through E-Trade that totaled 100,000 shares.
The price action was consistent with a lot of buying pressure being visited upon Golden Hat. The first two trades went at Wednesday's closing price of 8.5 cents/share, which was the low of the day. By the third trade, the price was 9 cents/share; after a one-trade return to 8.5 cents/share, the sixth trade went at 9 cents/share. The seventh made the price 10 cents/share, where it stayed for the next seven trades. Three tests of the above-10-cent/share level were made in the next four trades, but 10 cents/share turned out to be the day's resistance level. The last eight trades were below 10 cents/share: except for the third- and second-last trade, they were at 9 cents/share, leaving Golden hat up 0.5 cents/share on the day. 58,000 shares, or $4,930 worth, traded at 8.5 cents/share; 235,000 shares, or $21,150 worth, traded at the closing price of 9 cents/share; 50,000 shares, or $4,750 worth, traded at 9.5 cents/share; 269,000 shares, or $26,900 worth, traded at 10 cents/share; and, 53,000 shares, or $5,565 worth, traded at 10.5 cents/share.
The second most numerous trader was Trilogy, with 16 trades on Thursday. The stock got off to a bullish start: the first three trades were above Wednesday's close of 90 cents/share - specifically, they went at 91, 92 and 92 cents/share respectively. All three of them, whose volumes totaled 10,000 shares, were bought through Union Securities. The next two trades saw a fallback in the price, and those included the largest-volume trade of the day. Both of these trades, of 10,000 shares at 90 cents/share and 125,000 shares at 88 cents/share, were sold through Blackmount; they both went at the same time of about 10:02 AM ET. This dump, though, failed to hold down the price. The next two trades went at 90 cents/share; the one after that, the eighth, went at 91 cents/share. The ninth and tenth went at 92 cents/share, equalling the day's high. Trades eight through ten, totaling 10,000 shares, had Blackmont as the buy-side financial institution. The last six trades, though, pushed the price back down. One of them, the second-last, was an odd-lot'er of 100 shares that went at 87 cents/share. The others went at 90 cents/share, Trilogy's closing price. The last five of the day were sold through Northern Securities, although only the first three of those, comprising 5,000 shares, seemed to be a single block. As noted just above, Trilogy closed at 90 cents/share, unchanged on the day, with daily volume of 169,100 shares.
The third most numerous trader on Thursday was a regular that hasn't been in this category for some time. Silvio Ventures Inc. [NEX: SIV.H] traded 13 times, and all except one were odd-lot-sized. As is usual for SIV.H, the price of the odd-lot'ers were significantly below the price of the board-lot'er: the first ten trades went at 51 cents/share. After the one board-lot-sized trade of 500 shares went at 56 cents/share, the next two odd-lot'ers went at 53 cents/share. Since only board-lot-sized trades are counted in the closes and changes, that eleventh trade set the closing price, and the gain of 1 cent/share. Silvio's daily volume was 2,260 shares.
The top percentage gainer in Thursday's trading was International CHS Resource Corporation [NEX: ICJ.H], which closed at 9 cents/share for a gain of 5.5 cents/share, or 157%, on the day. International CHS was the volume leader on Wednesday, and was third in terms of raw volume on Thursday. Eight trades in ICJ.H were made, with the first two, of 60,000 and 38,000 shares, going at the same time, 22 seconds after market's open. Both of them were made at 3.5 cents/share, and both were sold through an anonymous financial institution. The next two trades, of 10,000 shares each, also went at the same time, of about 10:37 AM ET. Both were bought through TD Securities; the first went at 5 cents/share and the second went at 5.5 cents/share. TD Securities was the sell-side institution for the fifth and sixth trades, of 9,000 and 5,000 shares; these went at the same time too: about 12:30 PM ET. Their prices were 5.5 cents/share and 6.5 cents/share respectively. The final two trades, of 5,000 and 1,000 shares, seemed to be independent of each other. The prices on both trades were equal to the closing price of 9 cents/share, set by the latter one. Thursday's daily volume of ICH.H was 138,000 shares, 42,000 less than Wednesday's 180,000. It placed fourth on the top-ten daily-turnover list, found just below.
The top percentage decliner for Thursday was New Meridian Mining Corp. [NEX: NWC.H], which closed at 30 cents/share for a decline of 7.5 cents/share or 20%. There were only three trades in NWC.H on Thursday, and two of them were odd-lot'ers. The board-lot'er, which set the closing price, was only one board lot in size. Total daily volume for New Meridian was 699 shares.
Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):
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
Three NEX stocks traded more than ten times on Thursday. The most numerous trader in terms of number of trades was the same as the raw-volume leader, Golden Hat; it traded 25 times. GHA.H leapt right out of the gate on Thursday, even though none of its trades were made within the first minute of trading. Despite the lack of a pre-open build-up, the first half-hour saw seventeen of its trades, comprising 500,000 shares' worth of volume, made. All of those trades, except for one, had five-figure volumes. As might be expected, there seemed to be at least six multi-trade blocks in the record, as they were clustered in terms of time and buy-side financial institution; the first five clusters were 100,000 shares each in totaled volume: a 100,000-share block composed of the first five trades, bought through Canaccord; another 100,000-share block composed of the sixth and seventh trades that was also bought through Canaccord; a 100,000-share block composed of trades eight through ten, bought through an anonymous financial institution; another 100,000-share block composed of trades eleven through fourteen, bought through Canaccord; and, yet another 100,000 share block, composed of trades fifteen though seventeen, that was bought through an anonymous financial institution. Later in the morning and early afternoon, 110,000 shares were bought through National Bank, as comprised of the nineteenth through the twenty-third trades. This last cluster on the buy side may not have been a single block because the last trade went two hours after the first. The last two of those five, though, went at the same time, suggesting a 50,000-share bought block. It's possible that the first three of those five were another 60,000 share block that took some time to execute. There were several presumed sell-side blocks, but they were composed of two trades and most of those doubles were of relatively little volume, except for one two-trade presumed block that was sold through E-Trade that totaled 100,000 shares.
The price action was consistent with a lot of buying pressure being visited upon Golden Hat. The first two trades went at Wednesday's closing price of 8.5 cents/share, which was the low of the day. By the third trade, the price was 9 cents/share; after a one-trade return to 8.5 cents/share, the sixth trade went at 9 cents/share. The seventh made the price 10 cents/share, where it stayed for the next seven trades. Three tests of the above-10-cent/share level were made in the next four trades, but 10 cents/share turned out to be the day's resistance level. The last eight trades were below 10 cents/share: except for the third- and second-last trade, they were at 9 cents/share, leaving Golden hat up 0.5 cents/share on the day. 58,000 shares, or $4,930 worth, traded at 8.5 cents/share; 235,000 shares, or $21,150 worth, traded at the closing price of 9 cents/share; 50,000 shares, or $4,750 worth, traded at 9.5 cents/share; 269,000 shares, or $26,900 worth, traded at 10 cents/share; and, 53,000 shares, or $5,565 worth, traded at 10.5 cents/share.
The second most numerous trader was Trilogy, with 16 trades on Thursday. The stock got off to a bullish start: the first three trades were above Wednesday's close of 90 cents/share - specifically, they went at 91, 92 and 92 cents/share respectively. All three of them, whose volumes totaled 10,000 shares, were bought through Union Securities. The next two trades saw a fallback in the price, and those included the largest-volume trade of the day. Both of these trades, of 10,000 shares at 90 cents/share and 125,000 shares at 88 cents/share, were sold through Blackmount; they both went at the same time of about 10:02 AM ET. This dump, though, failed to hold down the price. The next two trades went at 90 cents/share; the one after that, the eighth, went at 91 cents/share. The ninth and tenth went at 92 cents/share, equalling the day's high. Trades eight through ten, totaling 10,000 shares, had Blackmont as the buy-side financial institution. The last six trades, though, pushed the price back down. One of them, the second-last, was an odd-lot'er of 100 shares that went at 87 cents/share. The others went at 90 cents/share, Trilogy's closing price. The last five of the day were sold through Northern Securities, although only the first three of those, comprising 5,000 shares, seemed to be a single block. As noted just above, Trilogy closed at 90 cents/share, unchanged on the day, with daily volume of 169,100 shares.
The third most numerous trader on Thursday was a regular that hasn't been in this category for some time. Silvio Ventures Inc. [NEX: SIV.H] traded 13 times, and all except one were odd-lot-sized. As is usual for SIV.H, the price of the odd-lot'ers were significantly below the price of the board-lot'er: the first ten trades went at 51 cents/share. After the one board-lot-sized trade of 500 shares went at 56 cents/share, the next two odd-lot'ers went at 53 cents/share. Since only board-lot-sized trades are counted in the closes and changes, that eleventh trade set the closing price, and the gain of 1 cent/share. Silvio's daily volume was 2,260 shares.
The top percentage gainer in Thursday's trading was International CHS Resource Corporation [NEX: ICJ.H], which closed at 9 cents/share for a gain of 5.5 cents/share, or 157%, on the day. International CHS was the volume leader on Wednesday, and was third in terms of raw volume on Thursday. Eight trades in ICJ.H were made, with the first two, of 60,000 and 38,000 shares, going at the same time, 22 seconds after market's open. Both of them were made at 3.5 cents/share, and both were sold through an anonymous financial institution. The next two trades, of 10,000 shares each, also went at the same time, of about 10:37 AM ET. Both were bought through TD Securities; the first went at 5 cents/share and the second went at 5.5 cents/share. TD Securities was the sell-side institution for the fifth and sixth trades, of 9,000 and 5,000 shares; these went at the same time too: about 12:30 PM ET. Their prices were 5.5 cents/share and 6.5 cents/share respectively. The final two trades, of 5,000 and 1,000 shares, seemed to be independent of each other. The prices on both trades were equal to the closing price of 9 cents/share, set by the latter one. Thursday's daily volume of ICH.H was 138,000 shares, 42,000 less than Wednesday's 180,000. It placed fourth on the top-ten daily-turnover list, found just below.
The top percentage decliner for Thursday was New Meridian Mining Corp. [NEX: NWC.H], which closed at 30 cents/share for a decline of 7.5 cents/share or 20%. There were only three trades in NWC.H on Thursday, and two of them were odd-lot'ers. The board-lot'er, which set the closing price, was only one board lot in size. Total daily volume for New Meridian was 699 shares.
Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):
- Golden Hat Resources Inc. [NEX: GHA.H], closed at 9 cents for a gain of 0.5 cents - 1.93% of total shares outstanding;
- Rose Marie Resources Ltd. [NEX: RSR.H], closed at 9 cents for a loss of 1.5 cents - 1.92% of TSO;
- Trilogy Metals Inc. [NEX: TRI.H], closed at 90 cents unchanged - 1.14% of TSO;
- International CHS Resource Corporation [NEX: ICJ.H], closed at 9 cents for a gain of 5.5 cents - 0.935% of TSO;
- Becker Gold Mines Ltd. [NEX: BGD.H], closed at 30 cents for a gain of 14.5 cents - 0.726% of TSO;
- Electrohome Limited class 'Y' non-voting [NEX: ELL.K], closed at 15 cents unchanged - 0.683% of TSO;
- Cobre Exploration Corp. [NEX: CXV.H], closed at 12.5 cents for a loss of 2 cents - 0.549% of TSO;
- Datinvest International Ltd. [NEX: DAI.H], closed at 19 cents for a gain of 1 cent - 0.481% of TSO;
- ITI World Investment Group Inc. class 'A' [NEX: IWI.H], closed at 40 cents for a loss of 1 cent - 0.358% of TSO;
- Gold Star Resources Corp. [NEX: GXX.H], closed at 17 cents for a loss of 2 cents - 0.261% of TSO.
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
Thursday, November 1, 2007
NEX Report for October 31, 2007
On Wednesday, the Barrel's Bottom Composite Index for the NEX closed at 89.39, down 0.43 points or 0.479% from its previous close of 89.82. The addition of one new trader, Stone Mountain Holdings Inc. [NEX: SMO.H], influenced the BBC Index right from the get-go: its first trade on the NEX was right at market's open, putting SMO.H down 0.5 cents/share from its previous close on the Venture. Other stocks that moved the index in the first minute of trading were: Arcland Resources Inc. [NEX: ADR.H], up 1.5 cents/share from its previous close within three seconds of market's open; Global Tree Technologies Inc. [NEX: GTT.H], which dropped 0.5 cents/share from its previous close; HLD Land Development Limited Partnership [NEX: HLD.UN.H], which opened up 1 cent/share above its previous close; Isee3d Ic. [NEX: ICT.H], which opened down 1 cent/share; and, ITI World Investment Group Class 'A' [NEX: IWI.H], which dropped from an opening gain of 3.5 cents/share to a loss of 0.5 cents/share within that first minute. These six NEX stocks, an unusually large number of movers during the first minute, didn't have that much influence on the BBCI: their combined weight put the index down less than one-tenths of a point. Despite a drop to 89.4 at 9:59 AM ET due to a 8 cent/share opening drop in Guildhall Minerals Ltd. [NEX: GDM.H], the BBCI recovered, and moved up until 11 AM ET. After a slight down-blip, the day's high of 89.89 was reached at 11:07 AM ET.
A decline started in earnest at that hour, reaching the day's low of 89.03 nine minutes after a more than 0.6-point plummet caused by a a 5 cent/share opening drop in Tapango Resources Ltd. [NEX: TPA.H] at about 11:47 AM ET. From that plummet, the BBCI slowly recovered, with intermittent drops, until 2:04 PM ET, when it reached almost 89.8.
A decline started in earnest at that hour, reaching the day's low of 89.03 nine minutes after a more than 0.6-point plummet caused by a a 5 cent/share opening drop in Tapango Resources Ltd. [NEX: TPA.H] at about 11:47 AM ET. From that plummet, the BBCI slowly recovered, with intermittent drops, until 2:04 PM ET, when it reached almost 89.8.
The index started declining again as of 2:13 PM ET, due to a further 2 cent/share decline in Tapango. 89.5 was fallen through by 2:36 PM ET, and the BBCI was below 88.4 by 2:45 PM ET. A recovery to above that level lasted only until 3:17 PM, when the index fell briefly below 89.3 before recovering to 89.38. The index then spent the next forty-two minutes churning around 89.4, about the same level as the BBCI's closing value of 89.39.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
- 10 AM ET: 89.52
- 11 AM ET: 89.87
- 12 PM ET: 89.26
- 1 PM ET: 89.43
- 2 PM ET: 89.71
- 3 PM ET: 89.45
- 4 PM ET/Close: 89.39
This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 31st and the third part covers NEX stocks of note for that day.
[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]
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
[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]
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
News Releases From NEX Companies For October 31st
There was one news release from a NEX company that was picked up by Marketwire on Wednesday. It was from Wavefire.com Inc. [NEX: WAF.H], and it announces an advance of about $172,000 to Wavefire.com from a director. "The loan has no fixed terms of repayment and the director will be reimbursed for costs incurred in making the advance. The amount represents the prospect fee (plus GST) payable by [WAF.H] under its farm-in agreement announced on October 16, 2007." This advance is subject to certain approvals. WAF.H closed on Wednesday at 22 cents/share, up 5 cents/share from Tuesday's close.
One bulletin from a NEX company was in Wednesday's TSX Venture Daily Bulletins. International Silver Ridge Resources Inc. [NEX: ISG.H] is coming out of suspension, and will resume trading as of Thursday's opening.
Three news releases were sent out exclusively through Canjex Publishing on Wednesday. The first pertains to Pinewood Resources Ltd. [NEX: PNW.H], which is currently under suspension: it's an excerpt from a news story in the Vancouver Sun about Terry Alexander. The B.C Securities Commission has ruled that Mr. Alexander has violated an earlier BCSC suspension on him that "prohibited him from acting as an officer or director, or engaging in investor relations, for any B.C. company, private or public, for 20 years." He nevertheless is "involved" as a director (and possibly as an officer) with Pinewood. The finding of the BCSC are reported on here. PNW.H last traded near the end of 2004, closing at 18 cents/share.
The second release comes from Tri-River Ventures Inc. [NEX: TVR.H]. It announces the closing of a private placement of 400,000 units, at a price of 22.5 cents per unit for total gross proceeds of $90,000. Each unit contains one common share and a purchase warrant for a common share with exercise price of 45 cents/share and life of one year. TVR.H closed at 45 cents/share on Wednesday, up 15 cents/share from its previous close. This close made for a new 52-week high.
The third and final release from Canjex is about Noise Media [NEX: NMA.H] and it follows on the heels of Tuesday's revocation of a cease-trade order against Noise by the Alberta Securities Commission. It announces that the Venture has conditionally de-suspended the company in conjuction with a conditional approval for Noise to move to Tier 2 of the Venture exchange as a mining issuer, due to its acquisition of "a 100-per-cent interest in 14 mineral claims located in the Valle-de-l'Or county municipality, Courville township, Quebec, subject to a 1.5-per-cent net smelter return" in exchange for 1 million shares of Noise. The company also plans to consolidate its shares on a 1-to-4 basis, to change its name to GFK Resources Inc. and to complete two different private placements. Not specified in the news release is whether or not the 1 million shares issued for the claims was pre- or post-consolidation. The first placement has a deemed price of 8 cents/share, with gross proceeds of $100,000, and the second one has a deemed price of 18 cents/unit (containing one share and a purchase warrant with unspecified terms) and is expected to raise $550,000. The proceeds from both will "be used to carry out the recommended work program on the property and for estimated general operating expenses and administration expenses of the company for the ensuing 12 months." Whether these placements will occur pre- or post consolidation isn't specified either, but it seems reasonable to assume that the first was pre- and the second was post-. NMA.H last traded in early 2003, and closed at 4 cents/share back then.
In addition to the above items, there were also SEDAR-filed financial statements announced on Wednesday:
One bulletin from a NEX company was in Wednesday's TSX Venture Daily Bulletins. International Silver Ridge Resources Inc. [NEX: ISG.H] is coming out of suspension, and will resume trading as of Thursday's opening.
Three news releases were sent out exclusively through Canjex Publishing on Wednesday. The first pertains to Pinewood Resources Ltd. [NEX: PNW.H], which is currently under suspension: it's an excerpt from a news story in the Vancouver Sun about Terry Alexander. The B.C Securities Commission has ruled that Mr. Alexander has violated an earlier BCSC suspension on him that "prohibited him from acting as an officer or director, or engaging in investor relations, for any B.C. company, private or public, for 20 years." He nevertheless is "involved" as a director (and possibly as an officer) with Pinewood. The finding of the BCSC are reported on here. PNW.H last traded near the end of 2004, closing at 18 cents/share.
The second release comes from Tri-River Ventures Inc. [NEX: TVR.H]. It announces the closing of a private placement of 400,000 units, at a price of 22.5 cents per unit for total gross proceeds of $90,000. Each unit contains one common share and a purchase warrant for a common share with exercise price of 45 cents/share and life of one year. TVR.H closed at 45 cents/share on Wednesday, up 15 cents/share from its previous close. This close made for a new 52-week high.
The third and final release from Canjex is about Noise Media [NEX: NMA.H] and it follows on the heels of Tuesday's revocation of a cease-trade order against Noise by the Alberta Securities Commission. It announces that the Venture has conditionally de-suspended the company in conjuction with a conditional approval for Noise to move to Tier 2 of the Venture exchange as a mining issuer, due to its acquisition of "a 100-per-cent interest in 14 mineral claims located in the Valle-de-l'Or county municipality, Courville township, Quebec, subject to a 1.5-per-cent net smelter return" in exchange for 1 million shares of Noise. The company also plans to consolidate its shares on a 1-to-4 basis, to change its name to GFK Resources Inc. and to complete two different private placements. Not specified in the news release is whether or not the 1 million shares issued for the claims was pre- or post-consolidation. The first placement has a deemed price of 8 cents/share, with gross proceeds of $100,000, and the second one has a deemed price of 18 cents/unit (containing one share and a purchase warrant with unspecified terms) and is expected to raise $550,000. The proceeds from both will "be used to carry out the recommended work program on the property and for estimated general operating expenses and administration expenses of the company for the ensuing 12 months." Whether these placements will occur pre- or post consolidation isn't specified either, but it seems reasonable to assume that the first was pre- and the second was post-. NMA.H last traded in early 2003, and closed at 4 cents/share back then.
In addition to the above items, there were also SEDAR-filed financial statements announced on Wednesday:
- The Silver Recycling Company Inc. has filed its audited annual financial statements for FY 2007 with accompanying M D & A.
[Note: There were two other NEX companies that filed reports through SEDAR on Wednesday, but due to time constraints their summarization on this blog will be postponed until Thursday's report.]
To read about the highlighted NEX stocks for Wednesday, you can go here.
The Silver Recycling Company Inc. Files Audited Annual Report With SEDAR
The Silver Recycling Company Inc. [NEX: TSR.H] has filed its audited annual financial statements with SEDAR for fiscal year 2007, ended June 30th, along with the accompanying Management Discussion and Analysis. The financials [PDF file] got an unqualified opinion from the auditors.
Cash decreased from $226,599 as of the end of FY 2006, or June 30/06, to $31,881 as of the end of FY '07. Current assets decreased from $226,599 to $49,231 in the same time period, while current liabilities increased from $93,201 to $208,782. As a result, working capital shrunk from a $133,398 surplus to a $159,551 deficit from FY '06 to FY '07. Book value also went from positive to negative - specifically, from $65,901, or 1.47 cents/share, to -$199,835, or -2.12 cents/share. The cash drain would have been more severe had the company not secured $221,191 of proceeds for the issuance of 1,991,666 shares upon the exercise of warrants from a private placement completed on April 19th, 2006.
Silver Recycling lost $504,334 before other items in FY '07. Since it was an active company in fiscal '06, the results for the two time periods are not comparable: the only income earned by the company in the former period was $21 in interest and other income. There was also a $2,500 loss due to the forgiveness of debt, so the net loss for FY '07 was $511,823 or 5.43 cents/share. According to note 9 of the financials, the company has $5,716,000 worth of non-capital tax-loss carry-forwards. $126,000 of them expire in 2008, and $4,233,000 of them expire in 2009.
The accompanying M D & A [PDF file] opens with a recount of a takeover-in-progress of an unnamed U.S.-based silver scrap company. A non-binding letter of intent was entered into on June 11 of this year, which will expire on November 15th due to a negotiated extension of its life. Later, the M D & A says, "Management is in discussion with two to three other potential acquisition targets" and that an increase in professional fees paid out are the result of due diligence associated with the letter of intent. Also from it: "The success of the Company is dependant upon the continuing support of its current creditors and its ability to continue to raise financing to fund operations and ultimately upon its ability to achieve profitable operations." TSR.H last traded on Tuesday, and closed at 37 cents/share on that day.
Cash decreased from $226,599 as of the end of FY 2006, or June 30/06, to $31,881 as of the end of FY '07. Current assets decreased from $226,599 to $49,231 in the same time period, while current liabilities increased from $93,201 to $208,782. As a result, working capital shrunk from a $133,398 surplus to a $159,551 deficit from FY '06 to FY '07. Book value also went from positive to negative - specifically, from $65,901, or 1.47 cents/share, to -$199,835, or -2.12 cents/share. The cash drain would have been more severe had the company not secured $221,191 of proceeds for the issuance of 1,991,666 shares upon the exercise of warrants from a private placement completed on April 19th, 2006.
Silver Recycling lost $504,334 before other items in FY '07. Since it was an active company in fiscal '06, the results for the two time periods are not comparable: the only income earned by the company in the former period was $21 in interest and other income. There was also a $2,500 loss due to the forgiveness of debt, so the net loss for FY '07 was $511,823 or 5.43 cents/share. According to note 9 of the financials, the company has $5,716,000 worth of non-capital tax-loss carry-forwards. $126,000 of them expire in 2008, and $4,233,000 of them expire in 2009.
The accompanying M D & A [PDF file] opens with a recount of a takeover-in-progress of an unnamed U.S.-based silver scrap company. A non-binding letter of intent was entered into on June 11 of this year, which will expire on November 15th due to a negotiated extension of its life. Later, the M D & A says, "Management is in discussion with two to three other potential acquisition targets" and that an increase in professional fees paid out are the result of due diligence associated with the letter of intent. Also from it: "The success of the Company is dependant upon the continuing support of its current creditors and its ability to continue to raise financing to fund operations and ultimately upon its ability to achieve profitable operations." TSR.H last traded on Tuesday, and closed at 37 cents/share on that day.
Highlighted NEX Stocks For October 31st
Forty-two NEX stocks traded on Wednesday. Of these, 20 advanced, 12 declined and 10 remained unchanged. There were 184 trades. The top trader in terms of raw volume was International CHS Resource Corporation [NEX: ICJ.H], with 180,000 shares traded. Unusually, all four of ICJ.H's trades came at exactly the same time, at about 1:57 PM ET. They also had the same sell-side financial institution, Union Securities. So, and this is rather rare for a NEX stock in this slot, the top trader in terms of raw volume made the spot on only a single (presumed) sold block. There were no other trades in CHS on Wednesday. The third trade, of 98,000 shares, went at 3 cents/share; the others went at 3.5 cents/share. Since those others included the last one, ICJ.H closed at 3.5 cents/share, down 0.5 cents/share on the day.
According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Wednesday was the runner-up in terms of raw volume, Trilogy Metals Inc. [NEX: TRI.H], Trilogy traded more than ten times on Wednesday, so its daily action is described below. International CHS placed first on the top ten daily-turnover list, found below; Trilogy placed second. Wednesday was one of the few days when the ranking of the top two traders in terms of raw volume and daily turnover of free-trading shares was the same.
Two NEX stocks traded more than ten times on Wednesday. The most numerous trader in terms of number of trades, as it has been two days previous, was Trilogy Metals Inc. [NEX: TRI.H]. The number of trades in Trilogy was two more than it was on Tuesday: 35. It opened at 87 cents/share, and stayed there for two trades. Not counting an odd-lot-sized trade, the next eleven went at 88 cents/share. After a test of the 90 cent level that comprised four trades, one at 89 cents/share and the other three at 90 cents/share, Trilogy returned to 88 cents/share, where it stayed (except for another odd-lot'er) for the next eight trades. The twenty-eigth trade saw Trilogy's price return to 90 cents/share, where it stayed for the next five trades. After one at 91 cents/share, Trilogy's price returned to 90 cents/share for two more trades, where it closed for a gain of 3 cents/share from Tuesday's close. 500 shares, or $425 worth, went at 85 cents/share; 5000 shares, or $4,350 worth, went at 87 cents/share; 108,000 shares, or $95,040 worth, went at 88 cents/share; 5000 shares, or $4,450 worth, went at 89 cents/share; 29,000 shares, or $26,100 worth, went at 90 cents/share; and, 500 shares, or $455 worth, went at 91 cents/share. Total daily volume was 148,000 shares. As was the case on Tuesday and Monday, any multi-trade blocks in Trilogy's trade record on Wednesday were not that big relative to the size of the individual trades.
The second most numerous trader was Rocher Deboule, with 19 trades on Wednesday. The first trade in Rocher was at the same price as Tuesday's close, 50 cents/share. The next seven were at 52 cents/share. Interestingly, the second through fourth trades seemed to be composed of a 10,000 share sold block, with TD Securities being the sell-side financial institution. The last three of those seven, or the sixth through eighth trades, seemed to be a bought block of 20,000 shares that had Canaccord as the buy-side financial institution. The ninth trade, of 20,000 shares as of about 11:07 AM ET, went at 53 cents/share: the five subsequent, of 1,000, 5,000, 1,500, 2,000 and 500 shares, went at 51, 50, 50, 49 and 48.5 cents/share respectively: all of them were sold through the same financial institution that was on the sell side of the 53 cent'er: Canaccord. Seemingly, those six trades were part of a sold block of 30,000 shares, one which depressed the price of RD.H temporarily. After those trades went through, the price went back up above 50 cents/share: the last five trades of the day were all at the closing price of 51 cents/share. This close put Rocher up 1 cent/share from Tuesday's close, on daily volume of 80,000 shares.
The top percentage gainer in Wednesday's trading was Landmark Global Financial Corporation [NEX: LST.H], which closed at 5 cents/share for a gain of 2.5 cents/share, or 100%, on the day. One board lot of 3,000 shares put the price at this close; the other trade in LST.H was an odd-lot'er of 8 shares, at 1 cent/share. These two, put together, total to Landmark's daily volume of 3,008 shares. The closing price was a cent below the 52-week high, and 3.5 cents above the 52-week low.
The top percentage decliner for Wednesday was Specialty Foods Group Income Fund [NEX: HAM.UN.H], which closed at 1 cent/share for a decline of 1 cent/share or 50%. There were five trades in HAM.UN.H on Wednesday; all but the last were at 1.5 cents/share. That last one, of 1,000 shares, established the closing price. There seemed to be two sold blocks amongst those five trades: a 40,000 share block, composing the first three trades, which went through Canaccord on the sell side, and a 2,000 share block, composing the last two trades, that went through TD Securities. The third and fourth trades seemed to compose a 10,000 share bought block that went through BMO Nesbitt. HAM.UN.H's total daily volume was 42,000 shares.
Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):
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
According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Wednesday was the runner-up in terms of raw volume, Trilogy Metals Inc. [NEX: TRI.H], Trilogy traded more than ten times on Wednesday, so its daily action is described below. International CHS placed first on the top ten daily-turnover list, found below; Trilogy placed second. Wednesday was one of the few days when the ranking of the top two traders in terms of raw volume and daily turnover of free-trading shares was the same.
Two NEX stocks traded more than ten times on Wednesday. The most numerous trader in terms of number of trades, as it has been two days previous, was Trilogy Metals Inc. [NEX: TRI.H]. The number of trades in Trilogy was two more than it was on Tuesday: 35. It opened at 87 cents/share, and stayed there for two trades. Not counting an odd-lot-sized trade, the next eleven went at 88 cents/share. After a test of the 90 cent level that comprised four trades, one at 89 cents/share and the other three at 90 cents/share, Trilogy returned to 88 cents/share, where it stayed (except for another odd-lot'er) for the next eight trades. The twenty-eigth trade saw Trilogy's price return to 90 cents/share, where it stayed for the next five trades. After one at 91 cents/share, Trilogy's price returned to 90 cents/share for two more trades, where it closed for a gain of 3 cents/share from Tuesday's close. 500 shares, or $425 worth, went at 85 cents/share; 5000 shares, or $4,350 worth, went at 87 cents/share; 108,000 shares, or $95,040 worth, went at 88 cents/share; 5000 shares, or $4,450 worth, went at 89 cents/share; 29,000 shares, or $26,100 worth, went at 90 cents/share; and, 500 shares, or $455 worth, went at 91 cents/share. Total daily volume was 148,000 shares. As was the case on Tuesday and Monday, any multi-trade blocks in Trilogy's trade record on Wednesday were not that big relative to the size of the individual trades.
The second most numerous trader was Rocher Deboule, with 19 trades on Wednesday. The first trade in Rocher was at the same price as Tuesday's close, 50 cents/share. The next seven were at 52 cents/share. Interestingly, the second through fourth trades seemed to be composed of a 10,000 share sold block, with TD Securities being the sell-side financial institution. The last three of those seven, or the sixth through eighth trades, seemed to be a bought block of 20,000 shares that had Canaccord as the buy-side financial institution. The ninth trade, of 20,000 shares as of about 11:07 AM ET, went at 53 cents/share: the five subsequent, of 1,000, 5,000, 1,500, 2,000 and 500 shares, went at 51, 50, 50, 49 and 48.5 cents/share respectively: all of them were sold through the same financial institution that was on the sell side of the 53 cent'er: Canaccord. Seemingly, those six trades were part of a sold block of 30,000 shares, one which depressed the price of RD.H temporarily. After those trades went through, the price went back up above 50 cents/share: the last five trades of the day were all at the closing price of 51 cents/share. This close put Rocher up 1 cent/share from Tuesday's close, on daily volume of 80,000 shares.
The top percentage gainer in Wednesday's trading was Landmark Global Financial Corporation [NEX: LST.H], which closed at 5 cents/share for a gain of 2.5 cents/share, or 100%, on the day. One board lot of 3,000 shares put the price at this close; the other trade in LST.H was an odd-lot'er of 8 shares, at 1 cent/share. These two, put together, total to Landmark's daily volume of 3,008 shares. The closing price was a cent below the 52-week high, and 3.5 cents above the 52-week low.
The top percentage decliner for Wednesday was Specialty Foods Group Income Fund [NEX: HAM.UN.H], which closed at 1 cent/share for a decline of 1 cent/share or 50%. There were five trades in HAM.UN.H on Wednesday; all but the last were at 1.5 cents/share. That last one, of 1,000 shares, established the closing price. There seemed to be two sold blocks amongst those five trades: a 40,000 share block, composing the first three trades, which went through Canaccord on the sell side, and a 2,000 share block, composing the last two trades, that went through TD Securities. The third and fourth trades seemed to compose a 10,000 share bought block that went through BMO Nesbitt. HAM.UN.H's total daily volume was 42,000 shares.
Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):
- International CHS Resource Corporation [NEX: ICJ.H], closed at 3.5 cents for a loss of 0.5 cents - 1.22% of total shares outstanding;
- Trilogy Metals Inc. [NEX: TRI.H], closed at 90 cents for a gain of 3 cents - 1.00% of TSO;
- Waveform.com Inc. [NEX: WAF.H], closed at 22 cents for a gain of 5 cents - 0.429% of TSO;
- Focus Ventures Ltd. [NEX: FCV.H], closed at 36 cents for a gain of 0.5 cents - 0.396% of TSO;
- Lomiko Resources Inc. [NEX: LMR.H], closed at 38 cents for a gain of 1 cent - 0.260% of TSO;
- Rocher Deboule Minerals Corp. [NEX: RD.H], closed at 51 cents for a gain of 1 cent - 0.252% of TSO;
- Avigo Resources Corp. [NEX: TMX.H], closed at 60 cents unchanged - 0.233% of TSO;
- ITI World Investment Group Inc. class 'A' [NEX: IWI.H], closed at 41 cents for a gain of 0.5 cents - 0.227% of TSO;
- Specialty Foods Group Income Fund [NEX: HAM.UN.H], closed at 1 cent for a loss of 1 cent - 0.209% of TSO;
- Datinvest International Ltd. [NEX: DAI.H], closed at 18 cents for a loss of 2 cents - 0.202% of TSO.
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
Subscribe to:
Posts (Atom)