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Cavan Ventures soars 43% after acquisition: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| July 11, 2013

Here are the most active stocks on Thursday mid-morning on the TSX and TSX Venture Exchange.

On Thursday, the top TSX mover was PMI Gold Corp. (TSX: T.PMV). The stock rose 5.6% and was trading at $0.30 on volume of 124.2 million.

On June 6, the exploration and development company announced a new discovery on the Obotan project in Ghana. Significant results in the newly discovered Dynamite Hill Prospect included 10 metres of 13.65 grams per tonne gold and 23.0 metres grading 4.89 grams per tonne gold.

Canadian Natural Resources Ltd. (TSX: T.CNQ) was the second most active stock on the TSX. It was up 1.6% and was trading at $33.20 on volume of 3.4 million shares.

On June 25, the independent energy company said its field operations remained stable and operational with very minor impact caused by the flooding in Calgary and that it would be contributing $1.0 million to the Calgary and area disaster relief efforts.

Cavan Ventures Inc. (TSX: V.CVN) was the volume leader on the TSX Venture Exchange. It soared 43% and was trading at $0.05 on volume of 5.1 million.

On July 10, the junior explorer announced the acquisition of the CAGE claims, located in northeastern Ontario, adjoining the Albany graphite deposit that is presently under advanced exploration by Zenyatta Ventures Ltd. (TSX: V.ZEN). Zenyatta recently announced several significant intersections of graphite mineralization, including five holes with 146 metres of 5.2% organic carbon, 177 metres of 5.3% organic carbon, 186 metres of 4.9% organic carbon, and 125 m of 4.6% organic carbon, respectively.

The second most active stock on the TSX Venture was Brookemont Capital Inc. (TSX: V.BKT). It climbed 16.7% and was trading at $0.035 after 6.6 million shares changed hands.

On July 9, the junior explorer announced that it had entered into an agreement to acquire a 100% interest in the "Albany East" Prospect, located in northeastern Ontario, from an arm's length vendor. This land is prospective for hydrothermal (vein) graphite.  This prospect directly borders Zenyatta’s property that hosts its hydrothermal graphite deposit. BKT's management anticipates mobilizing crews shortly on this prospect.


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