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by Stockwatch Business Reporter

The TSX Venture Exchange fell 14.28 points to 1,032.11 Thursday. Today, we have two qualifying transactions to discuss, one from Jonathan Leslie's halted capital pool shell, Khayyam Minerals Ltd. (KYY), and the other from Adam Szweras's suspended capital pool shell, Canada Pacific Capital Corp. (CPR). Both shells plan to spend their treasuries on units of already-listed companies, which is good news. It means two fewer shells on the exchange and two public companies with extra cash in their treasury.

Jonathan Leslie's Khayyam plans to spend its $425,000 treasury on 8.5 million units of Kincora Copper Ltd. (KCC: $0.06) at five cents. Khayyam, which has 12.1 million shares outstanding, will distribute those shares to its shareholders pro rata and then delist. Kincora will use the money to explore its Bronze Fox copper-gold project in the Oyu Tolgoi copper belt in Mongolia.

This is a deal amongst colleagues. Khayyam and Kincora have in common two directors, David Cowan and Stephen Fabian, and a CFO, Robert Anderson. As well, Khayyam's CEO, Eric Zurrin, 33, used to work with Kincora director Luke Leslie, 33, in the metals and mining group of UBS Investment Bank in London. Their time at UBS overlapped between early 2007 and mid-2008.

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