Trading Summary (January 04, 2002)

The base metal and technology shares led the Toronto Stock Exchange to a 59.04-point gain to end the holiday-shortened week at 7,833.2. The Metals & Minerals subindex was the star of the show gaining 107.94 points or 2.6%. Just two of the TSE’s 14 subindices finished in the red.

Palladium dropped US$8 and platinum slipped US$6 per oz. to end at US$421 and US$470 per oz., respectively. Gold and silver put in small gains.

Kinross Gold was the nation’s busiest miner with more than 1.5 million shares traded. The stock slipped a penny to $1.20. The company recently dropped an option to acquire the Clavos gold property near Timmins, Ont. from Untied Tex-Sol Mines.

Barrick Gold gained 36 to $26.75 and Franco-Nevada Mining lost 13 to $23.59 on 1.14 million shares to round out the top three mining issues. Among the remaining gold majors, Placer Dome added 24 to hit 18.59 and TVX Gold dropped a penny to 76.

Percentage gainers in the lower ranks included: Hope Bay Gold, up a nickel or 25% to 25; NovaGold Resources, 27 higher at $2.19; Dayton Mining tacked on a nickel or 13.5% to reach 42; and Chesbar Resources gained a penny or 11% to end at 10.

Teck Cominco saw 1.1 million shares cross the floor to gain 70 to $13.70 making it the busiest base metal issues. Other gainers were: Inco, up 47 to $27.85; Falconbridge, 64 higher at $17.48; Noranda, up 35 to $15.65; and Breakwater Resources, which shot up 4 or 16% to 29.

Advancers beat decliners 195 to 160 today on Canada’s junior exchange. The S&P-CDNX Composite Index gained 10.76 points, or 1.0% to close at 1071.94.

Pan Asia Mining tacked on 2 and closed at 10 with 620,000 shares crossing the floor. At last report the junior was in the process of seeking a listing on the NASDAQ exchange with the backing of Valley Forge Securities. Pan Asia recently agreed to a private placement of up to 31,362,000 units at a price of 10 per unit to raise $3.1 million.

International Wayside Gold Mines lost 2 and closed at 9 with 358,000 shares traded. Mosquito Consolidated Gold Mines reports that International Wayside has defaulted on a $100,000 option payment scheduled on the 31st of Dec 2001. The option covers 50% of the Cariboo gold quartz mineral claims as well as 100% of the Island Mountain and Mosquito Creek mineral claims. Under the terms of the agreement the option terminates if the payment is not made on the specified date.

Donner Minerals ended the day at 25, down 2 on 349,000 shares. Donner holds a majority stake in the South Voisey Bay nickel sulphide project in Labrador.

Troymin Resources found a penny and closed at 21 with 155,000 shares traded. The junior recently closed a private placement worth $200,000. Troymin also announced that it has applied for 400 claims (50,000 acres) in the Otish Mountains diamond play in Quebec.

Poplar Resources dropped 3 to close at 15 with 145,000 shares traded. The junior recently announced that 19 of the first 20 till samples collected from its wholly owned Nottaway diamond project in the James Bay lowlands of Quebec returned kimberlite indicator minerals.

United Tex-Sol Mines tacked on 5 and closed at 21 on 108,000 shares. The company states that Toronto-listed Kinross Gold has dropped its option agreement on the Clavos property in Timmins On. United Tex-Sol is currently having the property evaluated by Roscoe Postle and Associates.