Trading Summary (March 14, 2002)

The Toronto Stock Exchange 300 index slipped 35.56 points over the day, to finish at 7,828.64. Both the precious metals and base metals subgroups were also down, but slightly more so than the benchmark.

In New York, gold traded down $2.80 at US$290.90 per oz. This is also off from the London afternoon fix of US$291.20 per oz.

TVX Gold was the most active issue among gold miners, falling a penny to 95cents on a volume of 1.5 million shares. In a close second was Barrick Gold, which slipped a nickel to $27.80 on a volume of 1.3 million shares. Placer Dome fell 30cents to $17.15.

Among juniors, Taherra rose a penny to 30cents on a volume of 3.2 million shares to make it the most active resource issue in eastern markets. Next came Denison Mines, down three pennies to 14cents, followed by South American Gold and Copper, which fell two pennies to 15cents. South American recently raised $990,000 by privately placing 24 million units, which consist of a share and half of a warrant that can be exchanged for a share at 4cents.

Teck Cominco B-series was the most active base metal issue, though it remained unchanged at $14.15. Aluminum giant, Alcan, was down 84cents to $63.26.

Canada’s junior exchange ended the trading week by moving lower as decliners outpaced advancers by a 248-to-197 margin. The S&P-CDNX Composite Index lost 8.48 points, or 0.7% to close at 1145.33.

American Bonanza Gold Mining topped the most actively traded chart among junior explorers ending the session unchanged at 12 on 1.2 million shares. Toronto-listed Royal Gold recently inked a US$1.7 million deal to get a 3% net smelter royalty from the junior’s wholly owned Copperstone gold project in Arizona. Also included in the agreement is a 45% net profits royalty interest on the proceeds from a high-grade bulk sample program proposed for this year.

Spider Resources ended the week flat at 10 on just over 1 million shares. The junior recently announced the recovery of 8 macrodiamonds from a second mini-bulk sample collected from its Wawa property in northern Ontario.

Barramundi Gold added 2 to close at 5 on 895,156 shares. The company is aiming to develop a high grade, underground gold mine at the Rescue property in west central Idaho. Barramundi is also seeking a joint-venture partner for its Longline gold project in west central Yukon.

Madison Enterprises lost 1 to close at 11 on 450,500 shares. The junior is in the middle of a $800,000 financing comprising 8 million units priced at 10 each. The company holds the Mt. Kare gold property in Papua New Guinea.