TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange and the TSX Venture Exchange:

Toronto Stock Exchange (12,101.79 down 45.47 points):

Baffinland Iron Mines Corp. (TSX:BIM). Miner. Up seven cents, or 7.45 per cent, at $1.01 on 25,222,407 shares. The junior miner's shares soared for a second consecutive session, closing at a two-year high after receiving an unsolicited takeover bid Wednesday from Nunavut Iron Ore, a subsidiary of Iron Ore Holdings LP. The current stock price easily eclipses Nunavut's offer of 80 cents per share, which was a 100 per cent premium to Baffinland's price at the end of August.

Kinross Gold Corp. (TSX:K). Miner. Up 20 cents, or 1.03 per cent, at 19.65 cents on 7,618,924 shares. The gold contract for December delivery rose $4.20 to US$1,296.30 an ounce on the New York Mercantile Exchange, another record.

Manulife Financial Corp. (TSX:MFC). Insurer. Down three cents, or 0.23 per cent, at $12.76 on 7,272,590 shares. The financial sector dipped 0.13 per cent on the main index.

Crowflight Minerals Inc. (TSX:CML). Miner. Down 1.5 cents, or 14.29 per cent, at nine cents on 6,950,985 shares. The Toronto-based company said it had raised $3 million in equity financing that will be used "to partially satisfy outstanding accounts payable."

Carpathian Gold Inc. (TSX:CPN). Miner. Up three cents, or 5.26 per cent, at 60 cents on 6,950,274 shares. The Toronto-based company's board mandated Macquarie Bank Ltd. to arrange a project financing facility of up to US$75 million. Carpathian said the money will be used to partially fund the development of its Riacho dos Machados Gold Project in Brazil.

Air Canada (TSX:AC.B). Airline. Down three cents, or 1.06 per cent, at $2.81 on 5,760,546 shares. Air Canada's chief financial offer said the carrier is assigning a higher priority to deleveraging its balance sheet than adding planes to its fleet. Air Canada has nearly $1 billion worth of debt coming due over the next two years.

TSX Venture Exchange (1,688.70 up 7.93 points):

Gran Colombia Gold Corp. (TSX:GCM). Miner. Up a cent, or 3.33 per cent, at 31 cents on 8,494,500 shares.

Northern Gold Mining Inc. (TSX:NGM). Miner. Up three cents, or 7.89 per cent, at 41 cents on 7,448,546 shares.

Companies reporting major news:

Alimentation Couche-Tard (TSX:ATD.B). Convenience store operator. Down 12 cents, or 0.51 per cent, at $23.25 on 106,956 shares. Shareholders of Casey's General Stores (Nasdaq:CASY) re-elected all of eight incumbent directors, giving it more ammunition to fight Couche-Tard's US$2-billion hostile takeover bid.

CAE Inc. (TSX:CAE). Flight simulator and training company. Down 17 cents, or 1.57 per cent, at $10.63 on 631,311 shares. The company won $70 million worth of contracts to supply simulators and upgrades for Airbus A350 and Boeing 777 aircraft.

Calfrac Well Services Ltd. (TSX:CFW). Energy. Up 32 cents, or 1.44 per cent, at $22.58 on 193,778 shares. The Calgary-based energy services and well drilling company raised its 2010 capital spending program by $56 million to a revised total of $236 million and will focus on building fracturing equipment for the its U.S. operations.

Research In Motion (TSX:RIM). Wireless technology. Down four cents, or 0.08 per cent, at $48.96 on 2,484,493 shares. Rogers Communications Inc. (TSX:RCI.B) delayed the release of the Blackberry Torch, the highly-anticipated smartphone from RIM, moving its release from Sept. 24 to Sept. 30. Bell (TSX:BCE) and Telus (TSX:T) also moved its release date while Virgin Mobile said it will start selling the phone, which has a touchscreen and a slide-out keyboard, on Oct. 1.