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Shell Summary for June 27, 2019

2019-06-27 21:09 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed unchanged at 580.05 Thursday. Ian Slater has filed a preliminary prospectus to list his second capital pool shell, Abigail Capital Corp. It plans to sell a $500,000 initial public offering at 10 cents through Canaccord Genuity Corp.

Mr. Slater, 47, is an accountant, mining promoter and shell-maker in Vancouver. From 2003 to 2007, he was a partner with Ernst & Young LLP in Vancouver. Before that, he spent nine years as a partner with another accounting firm, Arthur Andersen LLP, not in Vancouver but in Kazakhstan. His accounting practice has involved Asian mining companies. He has also worked with the Lundin group. From 2007 to 2008, Mr. Slater was the president and chief executive officer of a Russian gold explorer, Fortress Minerals Corp., which under his watch traded between 90 cents and $1.95. He was succeeded as president and CEO by Lukas Lundin. Two years later, Fortress Minerals rolled back 1 for 20. It now trades as Lundin Gold Inc. (LUG: $6.52) and is building a gold mine in Ecuador. As for Mr. Slater, after leaving Fortress Minerals, he spent eight years as the CEO of a Colombian gold explorer, Red Eagle Mining Corp., which traded up to $1.35 but later went into receivership.

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