Here are the most active stocks on Thursday mid-morning on the TSX and TSX Venture Exchange.
On Thursday, the top TSX mover was
Sulliden Gold Corporation Ltd. (
TSX: T.SUE,
Stock Forum). It lost 7.3% and was trading at $1.02 on volume of 5.6 million shares.
Today, the mineral exploration and development company said that it has entered into an agreement with National Bank Financial Inc. and Scotia Capital as co-lead underwriters, on behalf of a syndicate of underwriters, for the issuance of 39.3 million common shares of the company, on a bought deal basis, at a price of $1.02 per share for gross proceeds of $40.1 million. The net proceeds of the offering will be used to help fund the development of the Shahuindo project, located in a prolific gold-producing district in northern Peru, and for general corporate purposes.
Barrick Gold Corp. (
TSX: T.ABX,
Stock Forum) was the second most active stock on the TSX. The stock was down 3.5% and trading at $19.93 on volume of 2.7 million.
On August 22, the gold producer agreed to divest its Yilgarn South assets in Western Australia to
Gold Fields Ltd. (
NYSE: GFI,
Stock Forum). The Yilgarn South assets are comprised principally of the Granny Smith, Lawlers and Darlot mines. In aggregate, these mines produced 452,000 ounces in 2012 at all-in sustaining costs of US$1,137 per ounce and 196,000 ounces in the first half of 2013 at all-in sustaining costs of US$1,145 per ounce.
Sphere Resources Inc. (
TSX: V.SPH.H,
Stock Forum) was the volume leader on the TSX Venture Exchange. It soared 66.7% and was trading at $0.025 on volume of 2.5 million.
Today, the mineral exploration company announced it believes the Railroad Fault system passes directly through the Poker Flats gold property in Nevada, and is interpreted to comprise at least three sub-parallel fault strands, 1,100 to 1,750 metres in length adjacent to Sphere/Spartan's property blocks.
Gold Standard Ventures Corp. (
TSX: V.GSV,
Stock Forum) has drilled several holes along these different faults, to the west of the Poker Flats property. Drill results reported from Gold Standard included new drill hole RR13-11, which intersected 98.1 meters of 3.26 grams per tonne gold, including 17.1 meters of 9.98 grams per tonne gold, Hole RR13-11 is located 70 meters west of previously drilled and reported hole RR13-08, that intersected 75 meters of 3.67 grams per tonne gold at essentially the same depth (about 275 meters below surface).
The second most active stock on the TSX Venture was
ENTREC Corp. (
TSX: V.ENT,
Stock Forum) It fell 1.3% and was trading at $1.48 after 1.6 million shares changed hands.
On August 12, the heavy lift and heavy haul services company announced financial results for the three and six months ended June 30, 2013. The company reported a net income of $4.43 million and $9.83 million respectively, compared to $3.0 million and $5.5 million in the three and six months ended June 30, 2012.