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by Stockwatch Business Reporter
The TSX Venture Exchange gained 3.91 points to 793.25 Thursday. Richard Grayston's capital pool shell, Red Rock Capital Corp. (RCC: $0.30), is seeking a qualifying transaction involving what it calls "energy metals," mainly cobalt and vanadium, which are used in making batteries. The shell says it is evaluating a potential deal with Electric Metals Corp., a British Columbia company that has a vanadium exploration project in Europe. Not much else is known about Electric Metals, and the shell is careful to note that its evaluation of Electric Metals' assets might not lead to a transaction. Red Rock did not even request a halt before announcing this asset evaluation. (A shell would typically halt before announcing a QT and remain halted until the QT closes or is cancelled.)
Mr. Grayston, a Vancouver accountant and resource promoter, is not the shell's founder. He took over as the shell's chief executive officer in July. He is also the CEO of a Nevada gold explorer, Logan Resources Ltd. (LGR: $0.045).
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