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Arian Resources (V.ARC) up 10.7% on project acquisition: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| January 31, 2014


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

On Friday, the top TSX mover was Osisko Mining Corp. (TSX: T.OSK, Stock Forum). It rose 1.5% and was trading at $6.69 on volume of 4.4 million shares.
 
On January 29, the gold miner commenced a legal proceeding against Goldcorp Inc. (TSX: T.G, Stock Forum) in the Québec Superior Court.
 
In the Quebec proceeding, Osisko alleges that, in making its hostile take-over bid for Osisko dated Jan. 14, 2014, Goldcorp misused confidential information and otherwise acted in a manner not permitted by the confidentiality agreement between the parties.
 
Whitecap Resources Inc. (TSX: T.WCP, Stock Forum) was the second most active stock on the TSX. The stock was down 0.6% and was trading at $11.77 on volume of 3.7 million.

On January 21, the oil and gas company announced the results of its 2013 year-end oil and gas reserves evaluation, a 51% increase over year-end 2012 reserves. The increases reflect exceptional organic growth through the drill-bit and the completion of several accretive oil acquisitions in 2013.
 
MacDonald Mines Exploration Ltd. (TSX: V.BMK, Stock Forum) was the volume leader on the TSX Venture Exchange. It lost 50% and was trading at $0.01 on volume of 8.3 million.
 
The exploration and development company had no related news to explain the high volume in trading.
 
The second most active stock on the TSX Venture was Arian Resources Corp. (TSX: V.ARC, Stock Forum) It gained 10.7% and was trading at $0.155 after four million shares changed hands.

On January 30, the mineral explorer announced the acquisition of a past producing mine and significant adjacent land package of 2,300 hectares in northern Albania. The high-grade Perlat copper-gold-silver-cobalt project is permitted for mining for 25 years, with a 10-year renewal option.

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

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