Trading Summary (November 27, 2003)

The Toronto Stock Exchange gained 20.11 points to end Thursday’s trading session at 7,880.5. The diversified miners led the rise, with a 1.46-point, or 0.76%, increase to 193.16. The golds slid 0.41 of a point to 235.21 as the yellow metal ended softer in London.

Canada’s major gold producers all suffered losses, Kinross was the most active, falling 15 to $11.43 on 675,058 shares, Placer Dome shed 12 to $22.93, and Barrick Gold fell a dime to $28.90.

TVI pacific was the TSX’s most traded issue, surging 4.5, or more than 21%, to 25.5 on more than 12.3 million shares. TVI recently mobilized three drill rigs to begin a 6,000-metre drill program on the Xianrenyan gold deposit on the Shuikoushan gold project in China. Drilling will aim to confirm the continuity of mineralization and test for depth and lateral extensions. The company also plans ground magnetic and geochemical surveys on extension to known mineralization. Drilling will follow.

Fellow junior Asia Pacific Resources finished a distant second among the mining issues, tacking on a penny to make 18.5 with about 3.5 million shares traded. Asia Pac recently agreed, in principle, to form a joint venture with Chinese state-owned Enterprise Investment for the purpose of developing the Udon Thani potash deposit in Thailand. Asia Pacific owns a 90% interest in the project, and the deal includes long-term offtake commitments and US$300 million worth of financing required for initial capital costs. Udon Thani is envisaged as a 2-million-tonne-per-year mine.

Manhattan Minerals finished a dubious third, plummeting 33.5, or 41%, to 48.5. On Thursday, Reuters reported that Peruvian Energy and Mines Minister Hans Flury delivered an ultimatum requiring the company to prove it has net assets of at least $100 million, and a 10,000-tonne-a-day treatment plant before its option on the Tambo Grande project expires in May. The company has until Dec. 1 to do so.

Zinc miner Breakwater Resources grabbed a nickel to hit 65. On Thursday, Breakwater’s lenders agreed to an 85.8-million share issue, providing the financially troubled base metal miner with a $30-million cash infusion. The funds will go to pay down existing loans.

Canada’s junior exchange busted out to yet another new all time high as investors continued to buy speculative gold issues. The S&P-TSX Venture Exchange composite index added 7.27 points, or 0.44%, and closed at 1,668.37.

Oasis Diamond Exploration added 3.5 to close at 9.5 on 6.2 million shares traded. At last report, the company announced that it did not have the necessary resources to finance such a complete analytical program on the samples collected from the Wawa project in Ontario. The first samples, sent to C.F. Mineral Research in Kelowna, B.C., consist of more than 2,000 kilograms of kimberlitic rock of core samples from the Sigma site collected in February as well as core and surface samples from the Enigma site taken in June on the property. Furthermore, six large samples of heterolytic volcanic breccias from the Magpie have been sent to Lakefield Research lab for diamond analysis.

Cabo Mining continued to attract investors, losing a penny to close at 13.5 on 1.36 million shares traded. The junior holds exploration ground in Ontario and just completed a share consolidation.

Bishop Resources climbed 5.5 to close at 22.5 on 3.6 million shares traded. The junior recently extended the closing date for the purchase of the Al/Bonanza and Lawyers property in the Toodoggone district of North Central British Columbia to March 31, 2004. Under the deal, first announced Dec. 10, 2002,Bishop must spend $4 million over 5 years, pay $775,000 of which $700,000 are advance royalty payments over a five years, plus issue 19.9% of the outstanding shares of Bishop at the time of closing of the acquisition, estimated at approximately 10 million shares.