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by Stockwatch Business Reporter

The TSX Venture Exchange lost 6.51 points to 770.09 Tuesday. Wade Dawe has filed a preliminary prospectus to list a capital pool shell called Duckworth Capital Corp. The shell plans to sell a $400,000 initial public offering at 10 cents, though Haywood Securities Inc.

Duckworth has 8.05 million escrowed shares, which it sold at five cents last month. Mr. Dawe and his wife, Kelly Dawe, bought a combined 2.8 million shares. Together, they are the largest escrow shareholders. Mr. Dawe, 47, is a resource stock promoter in Halifax. He was the chairman and chief executive officer of Timmins gold producer Brigus Gold Corp., which peaked at $2.15 in January, 2011, and is now a part of Primero Mining Corp. (P: $0.46). These days, Mr. Dawe is the chairman and CEO of Fortune Bay Corp. (FOR: $0.64), a North American gold explorer that was spun out of Brigus.

Mr. Dawe has listed two other capital pool shells, both with shell-making partner Daniel Whittaker. The duo's first shell, Birchpoint Capital Inc., listed in March, 2006, with a $250,000 IPO at 20 cents. Just seven months after listing, the shell completed its qualifying transaction by launching a Newfoundland uranium promotion. Birchpoint's IPO shareholders had two years to get out of their investment with a profit after the shell closed its QT, so we consider Birchpoint to have been a success for them. The Newfoundland uranium promotion has since switched to Alaskan rare metals and now trades as Ucore Rare Metals Inc. (UCU: $0.295).

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