On Tuesday, the top TSX mover was TORC Oil & Gas Ltd. (TSX: T.TOG, Stock Forum). The stock was up 0.83% and was trading at $2.43 on volume of 7.7 million. The oil and gas producer had no related news to explain the high volume in trading.
Uranium One Inc. (TSX: T.UUU, Stock Forum) was the second most active stock on the TSX. It fell 1.26% and was trading at $2.745 on volume of 7.3 million shares. On Jan. 14, the uranium producer entered into a definitive agreement with SC Atomredmetzoloto (ARMZ), which is a wholly owned subsidiary of Rosatom, the Russian State Corporation for Nuclear Energy, under which the company would be taken private for $2.86 per share in cash.
ARMZ and its affiliates currently own 51.4% of the Uranium One common shares.
Anatolia Energy Corp. (TSX: V.AEE, Stock Forum) was the volume leader on the TSX Venture Exchange. It was unchanged and was trading at $0.055 on volume of 5 million. On Jan. 15, the oil and gas company said that its partner, Çalik Enerji San. ve Tic. AS., a wholly-owned oil and gas subsidiary of the large Turkish conglomerate, has commenced drilling at Giremir-1, the initial exploration well on the Sinan Licence in Turkey, where Anatolia can earn a 50% interest.
The second most active stock on the TSX Venture was Fission Energy Corp. (TSX: V.FIS, Stock Forum). It lost 2.56% and was trading at $0.76 after 4.9 million shares changed hands. On Jan. 16, the resource company signed a binding letter of intent (LOI), whereby Denison Mines Corp. (TSX: T.DML, Stock Forum) will acquire a portfolio of uranium exploration projects.
Under the terms of the LOI, Denison has agreed to offer shareholders of Fission 0.355 shares of Denison for each share of Fission held, conditional upon, among other things, certain assets of Fission being spun out to a new company, known as NewCom to be held pro rata by current Fission shareholders.
Upon completion of the Transaction, shareholders of Fission will own approximately 11% of Denison.