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Shell Summary for Dec. 11, 2019

2019-12-11 21:28 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 536.32 Wednesday. Sean Mager and John Williamson's second capital pool shell, Duro Metals Inc. (DURO), has closed its $300,000 initial public offering at 10 cents. Its IPO agent was Mackie Research Capital Corp. The stock will begin trading tomorrow.

Mr. Mager, 52, and Mr. Williamson, 58, are mining promoters in Edmonton. They have each been a director or officer of more than a dozen resource juniors. Mr. Williamson is also a geologist. Among the duo's best promotions was Brilliant Mining Corp., a Labrador nickel explorer. Brilliant's stock, which traded between 10 and 38 cents in 2005, climbed to a peak of $2.90 in May, 2007. It then spent the next 18 months declining to seven cents. These days, Mr. Williamson is the chairman and chief executive officer of Benchmark Metals Inc. (BNCH: $0.39), a B.C. gold-silver explorer. Mr. Mager is the chief financial officer, the secretary and a director of Benchmark.

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