On Tuesday, the top TSX mover was Bombardier Inc. (TSX: T.BBD.B, Stock Forum). The stock lost 0.4% and was trading at $4.77 on volume of 3.6 million.
On June 6, the transportation equipment manufacturer announced the delivery of the first of 20 Q400 NextGen turboprop airliners ordered by WestJet Airlines Ltd. (TSX: T.WJA, Stock Forum). The aircraft will be operated by the new regional carrier, WestJet Encore and will serve multiple destinations, beginning in Western Canada in its first year of service. WestJet also holds options for 25 additional Q400 NextGen aircraft.
Kinross Gold Corp. (TSX: T.K, Stock Forum) was the second most active stock on the TSX. It fell 5.9% and was trading at $6.06 on volume of 3.4 million shares.
On June 10, the gold mining company said that it will not proceed with further development of the Fruta del Norte project in Ecuador. The company also informed the Government of Ecuador of this decision, and requested its cooperation in ensuring an orderly transition that respects the interests of both parties. According to Kinross, after more than two years of negotiations on exploitation and investment protection agreements for the project, the Government of Ecuador and Kinross have been unable to agree on certain key economic and legal terms which balance the interests of all stakeholders.
PetroFrontier Corp. (TSX: V.PFC, Stock Forum) was the volume leader on the TSX Venture Exchange. It soared 39.4% and was trading at $0.23 on volume of 1.6 million.
Today, the international oil and gas exploration company announced that it has agreed to amend the existing farm-in agreement with Statoil Australia Oil & Gas AS, a subsidiary of Statoil ASA (NYSE: STO, Stock Forum), whereby Statoil has committed to spend the next US$50 million throughout the remainder of 2013 and 2014 to fully fund up to a 385 kilometres 2D seismic program and the drilling and stimulation of four to six vertical test wells.
The second most active stock on the TSX Venture was Unigold Inc. (TSX: V.UGD, Stock Forum). It slipped 11.5% and was trading at $0.115 after 1.2 million shares changed hands.
On June 10, the mineral exploration company announced the closing of the previously announced private placement of securities to International Finance Corp. for proceeds of five million. The private placement resulted in the issuance of 20 million units at a price of $0.25 per unit. Each unit was composed of one common share of Unigold and three-quarters of one common share purchase warrant.