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Shell Summary for May 11, 2020

2020-05-11 20:45 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 3.11 points to 495.20 Monday. Stuart (Tookie) Angus's shell graduate and Kyrgyzstani gold explorer, Kenadyr Mining (Holdings) Corp. (KEN), closed unchanged at 3.5 cents on 400,000 shares. It is selling a $400,000 private placement at three cents, to raise money for corporate development (which usually means investor relations) and general expenses. The TSX-V last month lowered the minimum private placement offering price to one cent from five cents, for issuers with share prices below five cents, as part of the exchange's temporary relief measures for COVID-19.

Kenadyr last conducted exploration, including drilling, at its Kyrgyzstani properties in 2018. In the third quarter of 2019, it attempted to raise $1.5-million at eight cents for further exploration, but it ended up raising only $672,800. On Sept. 30, 2019, the company had working capital of $1.05-million, including $616,000 cash and an unspecified amount of deposits for future drilling. It had no long-term debt.

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