Trading Summary (October 15, 2001)

The Toronto Stock Exchange opened lower and stayed there on Monday, finishing 75.40 points behind its Friday close at 6,955.63. Almost all the subgroups fell, with the oil and gas stocks leading the downhill race.

The golds had a weak day, coming off highs reached on Friday in anticipation of weekend warfare. The gold and precious minerals subindex fell 73.31 points to close at 5,010.99 points. The index mirrored the bullion markets, where gold was down about two bucks, with a London afternoon fix price of US$281.80 per oz.

The most actively traded of the golds was Placer Dome, whose shares fell 33 to $18.31 with just over a million changing hands. Kinross Gold also traded heavily, sliding 3 to $1.40, and Barrick Gold was off 40 at $25.50.

Franco-Nevada Mining did better than most of the sector, climbing 11 to $22.40. Among the mid-tier producers, Glamis Gold had the worst day, falling 16 to close at $5.20.

The metals and minerals subindex also outpaced the broad market, falling 43.64 points or 1.2% of value and ending the day at 3,506.60 points. The heaviest trading was in Alcan, which dropped 38 to $47.40 on a volume of just over a million shares. Not far behind was Inco, sliding 44 to $21.15 with just under a million shares moving.

The whole base metal subgroup registered losses, with nickel producer Falconbridge showing the biggest percentage drop, a 78 slide that left it at $14.35. Among the smaller producers, Aur Resources fell 5 to close at $2.50.

Canada’s junior exchange ended the first day of trading week basically unchanged on low volumes. The Canadian Venture Exchange ended the day down 4.75 points, or 0.2% to finish the day at 2,874.88. The Mining Index lost 5.56 points, or 0.1%, to close at 7,147.81.

Shares of Samex Mining climbed 2 to end the day at 10 on a volume of 600,500. The junior is in the midst of a 600 metre drill program over the Eskapa copper-gold property in Bolivia.

Poplar Resources dropped 1 to close at 20 on 652,300 shares. The company closed a $350,000 financing comprising 1.4 million units priced at 25 each. At last report, the company’s 65%-owned subsidiary had completed five of a planned 20-hole program over the Bottenbacken polymetallic property in central Sweden.

Continuing to move higher on no specific new developments, Excellon Resources soared 5 to close at 40 on 289,800 shares. The company has been gearing up to drill test the Platosa-Saltillera gold property in northwestern Durango state, Mexico. A 10,000 ft. drill program is being proposed.

Making a nice move on word that the company closed a $699,500 financing, Sultan Minerals jumped 8 to 40 on 292,200 shares. The junior is currently drilling the Gold Mountain zone on its Kena gold property near Nelson, BC.

Moving higher ahead of drill results from the Rio Tabaconas polymetallic project in northern Peru, IMA Exploration gained 4 to close at 57 on 130,324 shares. Assay results from the first few holes are expected this week.