Trading Summary (December 28, 2001)

The Toronto Stock Exchange ended the holiday-shortened week up 24.42 points at 7,675.00 on Friday. The tech-heavy Industrial Products and Utilities subindices were alone posting plus-1% gains. The golds went the other way falling 1.5% to 4,995.42. The base metal issues managed to scrape together 28.84 points to hit 4,177.53. Overall, nine of the TSE’s fourteen subindices ended in the black on very thin volume.

Palladium led the precious metals in New York gaining US$13 or 3% to US$446 per oz. Gold dropped US$1.10 to US$275.90 per oz. The base metals were lower across the board in Europe.

Pure Gold minerals saw just more than 1.3 million shares cross the floor making it the busiest miner on the day. The issue fell half a penny to 17.5. Franco Nevada Mining was a distant second with less than 850,000 shares changing hands. The stock fell 40 to $23.20. Rounding out the top three miners was Barrick Gold, which lost 29 to $25.11 on about 675,000 shares. Barrick is in hammering out details of a management deal with Anglogold at operations in Australia and Tanzania.

Among the country’s remaining gold majors: Placer Dome lost 44 to $17; Kinross Gold shed 3 to $1.12; TVX Gold eked a penny to hit 65 and Cambior did the same to reach 68.

The base metal issues were mixed bag. Teck Cominco saw the most action with only about 280,000 shares traded. The issue lost 15 t o$12.80. Decent percentage gains were put in by: Boliden, up 35 or 5.5% to $6.70; Aur Resources, 14 or 4% higher at $3.80; and Breakwater Resources, which climbed 1.5 or 7% to 23.

Canada’s junior exchange extended its holiday rally led by a surge in shares of junior diamond explorers. The S&P-CDNX Composite Index gained 13.52 points, or 1.3% to close at 1018.72.

Majescor Resources continued to hit new 52-week highs surging 17 to close at $1.17 on 381,200 shares. The junior has a large land position surrounding Aston Mining of Canada’s new diamond find in the Otish Mountain region of northern Quebec.

Canabrava Diamond popped back onto investor’s radar screen as the Quebec diamond hunt spurs interest late in the year. The junior closed a $740,000 financing and recently signed a deal to earn a 50% interest in Majescor’s Mistassini diamond project near the Otish Mountain region. Canabrava ended the day up 1 at 35 on 343,000 shares.

Chilean Gold added 7 to close at 60 on 939,000 shares. The junior, along with partners Northern Empire Minerals, Stornoway Ventures, Wind River Resources and International Samuel Exploration inked a deal to earn a 20% stake in the Jubilee diamond property in Nunavut. Northern Empire gained 17 on the day to close at 70 on 346,789 shares.

Holmer Gold Mines added 1 to close at 7 on 325,600 shares. The company is focused on advancing the Loma Hierro silver project in Cuba and the Timmins gold property in Ontario, where drilling has outlined a mineral resource of 2.14 million tons averaging 0.23 oz. gold per ton.

Making a nice percentage move, War Eagle Mining gained 2 to close at 17 on 202,026 shares. The junior is aiming to advance the Mac tantalum-tin property in the Northwest Territories.

Shares in Gulf International Minerals jumped 10 to 43 on a volume of 170,340. The company is advancing the Kansai and Aprelevka gold mine projects in Tajikistan.