Here are the most active stocks on Wednesday mid-morning on the TSX and TSX Venture Exchange.
On Wednesday, the top TSX mover was
PhosCan Chemical Corp. (
TSX: T.FOS,
Stock Forum). The stock lost 1.9% and was trading at $0.265 on volume of 6.2 million.
The phosphate focused development company had no related news to explain the high volume in trading.
TORC Oil & Gas Ltd. (
TSX: T.TOG,
Stock Forum) was the second most active stock on the TSX. It gained 1.7% and was trading at $1.77 on volume of 5.5 million shares.
On Sept. 9, the resource company announced the closing of the acquisition of low decline, high netback, light oil producing assets in southeast Saskatchewan. In conjunction with the acquisition, TORC secured a cornerstone equity investment by the Canada Pension Plan Investment Board for $170 million through a private placement of subscription receipts and completed a $242 million bought deal prospectus offering of subscription receipts.
KWG Resources Inc. (
TSX: V.KWG,
Stock Forum) was the volume leader on the TSX Venture Exchange. It climbed 20% and was trading at $0.06 on volume of 4.7 million.
On Sept. 9, the exploration company reported a revised geological report and calculation of the resources inferred from drilling data recovered to date from the
Black Horse chromite deposit, located in the McFaulds Lake area of the James Bay lowlands, Ontario. The report received from Sibley Basin Group Geological Consulting Services Ltd. stated “Using a 20% cut-off, there are a total of 46.5 million tonnes at a grade of 38.8% chromium oxide of inferred resources which should be upgradable through gravity and/or heavy media concentration. These resources are blocks above cut-off and have had no mineability criteria applied to them.”
The second most active stock on the TSX Venture was
Caribou King Resources Ltd. (
TSX: V.CKR,
Stock Forum). It rose 27.3% and was trading at $0.07 after 3.9 million shares changed hands.
Today, the junior explorer announced that ground-based electromagnetics (EM) has identified four significant conductors on its 100%-owned Mulloy graphite project, located ten kilometers west of the
Zenyatta Ventures Ltd. (
TSX: V.ZEN,
Stock Forum) Albany graphite project in Ontario. Measurements taken over 325 meters along a claim line identified four horizontal loop EM (HLEM) conductors that are near historic drilling that encountered 90% visual graphite in 18.68 meters of graphitic schist, followed by a second graphitic schist intersected over 19.78 meters for a total of 38.46 meters. Based on these positive results, permitting for line-cutting and drilling has been submitted and geophysics is presently underway to delineate the strike extent of the conductors, which will then be drill-tested.