Trading Summary (June 28, 2002)

The Toronto Stock Exchange’s gold index shrank by 5.68 points to end the week at 188.53 points on Friday. Not surprisingly, gold had US$5.10 per oz. carved off its hide coming in at US$313.90 per oz. in New York. The TSX’s base metal miners put in a better performance gaining 1.81 points to 144.3. The S&P/TSX Composite Index headed into the holiday weekend 71.8 points or 1% higher at 7,145.61.

Kinross Gold had the dubious honour of being Canada’s most traded mining stock dropping 22 to $3.40 with nearly 7.4 million shares traded. Barrick Gold lagged behind off $1.02 to $28.83 on 4.2 million shares. Rounding out the TSX’s top ten traded list, Bema Gold fell 17 to $2.02, TVX Gold lost 13 to $2.15, and Placer Dome finished 88 poorer at $17.

Alcan led a quieter bunch of base metal miners advancing $2.54 to $57.70 with more than 2.3 million shares on the go. On Friday, Alcan said that its second-quarter operating earnings, excluding non-recurring items and foreign currency translation effects, would come in at the higher end of its previously announced range of 35-45. The recent strength of the Canadian dollar resulted in significant non-operating currency translation effects.

Inco slid in just behind adding 80 to make $34.15 with just fewer than 1.2 million shares changing hands. Most of the others put in modest gains. Swedish miner Boliden stood out falling 9 to $5.72.

American Bonanza Gold Mining was the most traded issue on the TSX Venture Exchange diving 2 or 10% to 18 on nearly 1.1 million shares.

Antoro Resources gained 3 or 8.6% to hit 38. The company recently inked a deal to acquire a 90% stake in the White Lake property, in Hemlo, Ontario, by issuing 900,000 shares and granting a 1% net smelter return royalty to MJL Explorations, plus a 10% non-participating interest in the property to Geotest Corp.

Overall, the S&P/TSX Venture Composite tacked on 0.08 of a point to reach 1,158.92.