Shell Summary for May 3, 2018

by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 771.25 Thursday. Peter McKeown has listed his first capital pool shell, MG Capital Corp. (MGX), following a $250,000 initial public offering at 10 cents through Leede Jones Gable Inc. It has yet to trade. Mr. McKeown, an accountant in Canmore, Alta., has been a director ofa dozen public companies since the 1990s. He worked with Axia NetMedia Corp. for 17 years. He joined the company as a director in 1994, when it was looking for gold in Saskatchewan and named Canadian Mining Resources Inc.It changed its name to Axia Multimedia Corp. and its business to compact discs in 1995. In 1998 it changed again, to Axia NetMedia and broadband networks. Mr. McKeown stepped down from the board in 2001 but remained as chief financial officer until 2011. Since then, he has created his own consulting company, Player Capital Corp., and helped his wife set up an artisan gift store in Banff.

Brian Bayley and Murray Sinclair's shell graduate, Aethon Minerals Corp. (AET), began trading today. It opened at 55 cents and closed at 60 cents on 4,700 shares. Aethon is optioning the Arcas gold-copper project in Chile from three Chilean vendors that are 49 per cent owned by Altius Minerals Corp. (ALS: $14.20). Aethon has $7.7-million in working capital, thanks to a subscription receipt financing that it sold at 51 cents. It budgets $1.1-million on exploration over the next 12 months. It will first need to obtain permits and make friends with the local Indians. President Robert Davies has experience in Chile. He was born in the country and has worked there with Barrick Gold Corp. (ABX: $17.31) at its $8.5-billion stalled Pascua Lama gold project, and with Kinross Gold Corp. (K: $5.14) at its Cerro Casale gold project, which Goldcorp Inc. (G: $17.36) bought in 2016.

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