Stockwatch Street Wires
- Shell Summary for Sept. 20, 2019
Mudit Paliwal plans to list his first capital pool shell, Kalon Acquisition, with a $400,000 to $550,000 IPO at 10 cents. Mr. Paliwal and his fellow shell directors all have experience in shipping or in shipping finance.
- Energy Summary for Sept. 20, 2019
Eco (Atlantic) Oil's CEO talks up the company's recent Guyanese oil discovery and its tentative plans for next year. Africa Oil sees hints of progress on a planned pipeline in Kenya. Colombian producers prepare for a big block auction next month.
- SEC bans Anton & Chia over audit failures
The SEC has permanently banned Vancouver accountant Greg Wahl's California firm, Anton & Chia LLP, for audit violations. The firm "egregiously deviated" from professional standards, according to the SEC.
- Diamond & Specialty Minerals Summary for Sept. 20, 2019
Diamcor Mining has sold another batch of Krone-Endora diamonds and recovered some more. Hudson Resources is struggling to offload and deliver its first batch of anorthosite from Greenland. Giga Metals has a new resource estimate for Turnagain.
- Gold Summary for Sept. 20, 2019
Rubicon Minerals is seeking up to $12-million for more work at Phoenix, its shuttered mine in Ontario. Moneta Porcupine Mines has raised $3-million for work at Golden Highway in Ontario. Benchmark Metals has assays from a hole into the Amethyst zone at Lawyers.
- SEC defendant Hackett complains about new evidence
SEC defendant Andrew Hackett, awaiting trial for a scheme run through TheMoneyStreet, says that prosecutors are unfairly presenting evidence of other "deals." The charges are only for one stock, and other evidence would confuse the jury, he contends.
- Shell Summary for Sept. 19, 2019
Sayan Navaratnam's shell graduate and ride-sharing app developer, Facedrive Inc., began trading today. It closed at $20.45 on 10,500 shares. In connection with its launch, Facedrive raised $7.01-million at $15.84. It now plans to split its shares 10 for 1.
- Cannabis Summary for Sept. 19, 2019
Dionymed falls by over 50 per cent after restructuring its debt and receiving a request from lender Gotham Green to be repaid the $2.2-million (U.S.) it is owed. iAnthus enters a deal to buy a Nevada seed-to-sale cannabis company for $27.6-million (U.S.).
- Energy Summary for Sept. 19, 2019
Cenovus Energy prepares for its investor day coming up in less than two weeks, at which it will release an updated five-year plan. Athabasca Oil gets back to work in the Alberta Montney. Prairie Provident has a new reserve report on Evi.
- Diamond & Specialty Minerals Summary for Sept. 19, 2019
Lucara Diamond continues to do well at Karowe, just not as spectacularly as before. ALX Uranium is drilling its Close Lake uranium project in Saskatchewan. Fission 3.0 has a new president to help it chase uranium in Saskatchewan and Chile.
- SEC bans, fines Florida stock tout Sodi
The SEC has imposed a permanent ban and $1.26-million in penalties on Brian Sodi, the Florida stock tout known as the "Mailman." Still unknown is the identity of a Canadian accomplice.
- Gold Summary for Sept. 19, 2019
Ascot Resources has hit gold in a Premier gap, which bodes well for a coming resource update. Allegiant Gold has shuffled management to save cash and focus on its affairs. One of the departers is slated to become CEO of Calibre Mining.
- Raymond James, Clyne call off their legal spat
Raymond James Ltd. has ended the lawsuit that it filed against its former employee, Miles Clyne. The firm had complained about Mr. Clyne's handling of client accounts, while Mr. Clyne had countersued for wrongful dismissal.
- Shell Summary for Sept. 18, 2019
Mark Sumner's first capital pool shell,
Daura Capital, has closed its $200,000 IPO at 10 cents. It already has a QT target, Estrella Gold, a Peruvian gold explorer. Daura's stock will begin trading on Friday.
- Energy Summary for Sept. 18, 2019
Oil price bears start to poke their heads back out as Saudi Arabia calms fears of a supply shortage. NuVista Energy gains a large new investor. Tamarack Valley hypes its waterflood plans, and Alvopetro Energy dreams of starting a dividend.
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