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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.93 points to 748.20 Tuesday. Michael England's cease-traded capital pool shell, BTU Capital Corp. (BTU), has dropped its fourth qualifying transaction attempt. The shell had planned to option a British Columbia gold project from former broker Nash Meghji's Nakina Resources Inc. The parties do not provide a reason for the cancellation. Under their agreement, BTU Capital had intended to sell a $500,000 private placement of units at 10 cents.

Mr. England, a floor trader on the Vancouver Stock Exchange in the 1980s, is a founding director and escrow shareholder of BTU Capital, but he was not its original promoter. The shell was listed by Walter Brenner, a lawyer, shell-maker and resource promoter. Mr. Brenner listed BTU in October, 2009, with a $400,000 initial public offering of shares at 10 cents. In June, 2010, he lined up the shell's first potential QT with an information technology company in Montreal. The target eventually went public through another shell, Mansoor Anjum's Java Capital Inc., and now trades on the Canadian Securities Exchange as Peak Positioning Technologies Inc. (PKK: $0.045).

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