Here are the most active stocks on Monday mid-morning on the TSX and TSX Venture Exchange.
On Monday, the top TSX mover was
Brigus Gold Corp. (
TSX: T.BRD,
Stock Forum). The stock was up 33% and was trading at $0.84 on volume of 12.6 million.
Today, the mining company announced that
Primero Mining Corp. (
TSX: T.P,
Stock Forum) will acquire all outstanding common shares of Brigus pursuant to a plan of arrangement to create a diversified, Americas based mid-tier gold producer. Pursuant to the arrangement, Primero will acquire each outstanding Brigus common share for 0.175 of a Primero common share. In addition, Brigus shareholders will receive 0.1 of a common share in a newly incorporated company (SpinCo) for each Brigus common share as part of the arrangement. SpinCo will hold Brigus' interests in the Goldfields project in Saskatchewan and the Ixhuatán and Huizopa projects in Mexico and will be capitalized with approximately $10 million in cash. Upon completion of the arrangement, Brigus shareholders will hold, in aggregate, a 90.1% interest in SpinCo and Primero will hold the remaining 9.9% interest in SpinCo.
Carpathian Gold Inc. (
TSX: T.CPN,
Stock Forum) was the second most active stock on the TSX. It gained 33% and was trading at $0.10 on volume of 3.7 million shares.
On December 13, the exploration and development company announced that its subsidiary, Mineração Riacho dos Machados Ltda., which owns and operates the RDM gold project, Brazil, has received from the state environmental agency the Autorização Provisória de Operação (APO), a provisional permit, allowing it to proceed with the full operation of its gold producing facilities. The APO provides the same legal rights as the Licença de Operação (LO) and allows the project to proceed in the interim while arrangements are being performed by the government agencies and related entities for the issuance of the LO. "While the unfortunate delay in the start-up of the operation may have affected the outlook for the company and led to a cash shortfall situation, it is nonetheless a pleasure to report that with the receipt of the APO the RDM gold project can now commence gold production and be Brazil's next gold producer", said Dino Titaro, Chairman and CEO. "With the wet commissioning of the mill and process plant, the project is now ready to receive and process ore from the mine, with the expectation of its first gold pour within two weeks.”
Border Petroleum Corp. (
TSX: V.BOR,
Stock Forum) was the volume leader on the TSX Venture Exchange. It lost 50% and was trading at $0.005 on volume of 6.8 million.
The oil and gas junior had no related news to explain the high volume in trading.
The second most active stock on the TSX Venture was
Xmet Inc. (
TSX: V.XME,
Stock Forum). It rose 6.9% and was trading at $0.155 after four million shares changed hands.
On December 15, the mineral explorer and developer appointed Stephen Stewart as President of Xmet. Stephen has nearly 15 years of experience in the resource and finance industries where he has evaluated and successfully raised capital for precious metals and bulk resource projects. His focus has been on the acquisition, exploration and development of resource assets and has served as a senior officer with TSX Venture companies.