Xmet (V.XME) up 6.5% on additional land claims: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
2 Comments| January 6, 2014


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

On Monday, the top TSX mover was B2Gold Corp. (TSX: T.BTO, Stock Forum). The stock was up 3.5% and was trading at $2.39 on volume of 3.4 million.

On December 20, the gold producer and Volta Resources Inc. (TSX: T.VTR, Stock Forum) announced the completion of a business combination, whereby Volta became a wholly-owned subsidiary of B2Gold.

Colossus Minerals Inc. (TSX: T.CSI, Stock Forum) was the second most active stock on the TSX. It gained 7.7% and was trading at $0.07 on volume of 3.3 million shares.

On January 2, the miner reported that it had received a proposal from holders of convertible gold linked notes and Sandstorm Gold Ltd., that if implemented would allow the company to carry on business activities past Dec. 31, 2013 with a view to its potential sale or future recapitalization.

However, Colossus said existing holders of common shares would experience massive dilution to the point where they would, in aggregate, hold approximately 1.7% of the outstanding shares after giving effect to the terms of the proposal.

Xmet Inc. (TSX: V.XME, Stock Forum) was the volume leader on the TSX Venture Exchange. It rose 6.5% and was trading at $0.165 on volume of 1.8 million.

Today, the exploration and development company announced that it has staked an additional 298 claim units immediately adjacent to its existing land package that comprises the Blackflake project bringing its total land package to over 21,000 acres in Northern Ontario.

"As a result of our recent success in discovering conductive anomalies, and in particular one such anomaly that bares striking geophysical similarities to that of Zenyatta Ventures Inc.'s (TSX: V.ZEN, Stock Forum) Albany project, we have aggressively expanded our land position based on our geological interpretation of areas co-incident with magnetic lows where we see opportunities to discover additional hydrothermal graphite targets,” said Alexander Stewart, Chairman and CEO. “Our team has identified additional geological indicators, coincident with magnetic lows, which may help us to create excellent targets.”

The second most active stock on the TSX Venture was WesternZagros Resources Ltd. (TSX: V.WZR, Stock Forum). It climbed 6.1% and was trading at $1.05 after 1.7 million shares changed hands.

During the month of December the junior oil and gas explorer participated in two investor conferences. The first, the Kurdistan-Iraq Oil & Gas Conference where the focus was "Accelerating Oil and Gas Development Projects to Fuel the Economy" took place on December 1 through 4, and at the second, the Emerging Europe conference was during December 3 to 6.

Tags: INDUSTRIAL METALS & MINERALS GOLD OIL & GAS E&P ENERGY

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gamethrones
XME by BN.H, DGO, WER and VMI, also TDW there too. beauty is, that those all tied to ZEN and between ZEN and XME discoveries of pipes there will be more pipes as pipes occur in clusters, and mag lows identify pipes, graphite within them should show with EM, www.zenareaplay.com has some info up on pipes etc...
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January 6, 2014
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PennyStoc
And also BKT is up today with huge volume.
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January 6, 2014
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