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Africa Hydrocarbons (V.NFK) up 50% on well update: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| November 25, 2013

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

On Monday, the top TSX mover was Yamana Gold Inc. (TSX: T.YRI, Stock Forum). The stock was down 2.5% and was trading at $9.08 on volume of six million.

On October 29, gold producer announced its financial and operating results for the third quarter of 2013. During the quarter the company produced 306,935 gold equivalent ounces, an increase of 4.0% over the second quarter of 2013. Net earnings were $43.5 million or $0.06 per share.

Detour Gold Corp. (TSX: T.DGC, Stock Forum) was the second most active stock on the TSX. It fell 29.7% and was trading at $3.00 on volume of 5.7 million shares.

Today, the exploration and development company reported that, effective immediately, Gerald Panneton, Detour Gold's President and CEO, has resigned.The Board of Directors has appointed Paul Martin, CFO, as interim CEO. Martin will serve in this capacity while the company conducts a search for a new CEO. James Mavor, Vice President, Finance, has been appointed interim CFO during this period.

Africa Hydrocarbons Inc. (TSX: V.NFK, Stock Forum) was the volume leader on the TSX Venture Exchange. It soared 50% and was trading at $0.135 on volume of 6.2 million.

Today, the oil and gas junior provided additional details regarding the company's BHN-1 exploration well on the Bouhajla permit in northeastern Tunisia. Completion operations at the BHN-1 well are ongoing, despite setbacks related to complications associated with the acid injection program. Furthermore, at this time, the company believes the Abiod formation remains un-evaluated with unchanged potential for yielding a producing well at BHN-1.

The second most active stock on the TSX Venture was Colombia Crest Gold Corp. (TSX: V.CLB, Stock Forum). It was up 100% and was trading at $0.01 after 4.1 million shares changed hands.

The exploration and development company had no related news to explain the high volume in trading.


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