Trading Summary (March 27, 2003)

The Toronto Stock Exchange slipped another 3.56 points to end Thursday’s trading session at 6,353.44. The diversified miners led the slide with a 2.6-point, or 2.1%, fall to 120.56. The golds chipped in with a 1.13-point loss to 147.49.

The usual cast of characters were at the top of the class volume wise. Northern Orion Explorations lost 1.5 to $19 on 5.4 million shares to rank as the busiest miner. General Minerals gained 4.5 to 16.5. The company recently reported that Australian-based Ranger Minerals plans to sell 19.5 million of its 23.3 million General Minerals shares (representing a 55% stake) to several buyers for a dime apiece.

Nickel miner Inco saw around 3.4 million shares continue their downward trend sliding 81 to $26.35. The company has suffered from higher-than-expected development costs at its Voisey’s Bay project.

Wheaton River Mineral remained in investors’ sights ending 12 lower at $1.17.Wheaton and an unnamed partner recently agreed to split the US$180-million price tag attached to BHP Billiton’s quarter-stake in the Bajo de la Alumbrera gold-copper mine in Argentina.

Canada’s major gold producers were a bit quieter: Placer Dome finished a dime lighter at $13.40 on 2.8 million shares; Barrick Gold dropped a nickel to $21.40 while Kinross Gold grabbed 11 to make $8.01 on 2.1 million shares.

The rest of the base metal miners were far less active than Inco; Alcan was the closest dropping 29 to $41.31 on 839,422 shares.

Ivanhoe Mines fell 3 to $3.11 after tabling a new scoping study that suggests that copper production from the Monywa project in Myanmar could increase by 450% by implementing an expansion plan that integrates the Letpadaung deposit.

Canada’s junior gained back yesterday’s losses as advancing stocks edged out declining stocks 264 to 262. The S&P-TSX Venture Exchange composite index added 3.42 points, or 0.33%, and closed at 1,044.10 with 33.7 million shares traded.

Spider Resources was the day’s volume leader with 2.07 million shares traded. The junior and joint venture partner, over the counter-listed, KWG Resources have launched a 1,000 metre diamond drilling program on their Spider #3 base metal prospect in the James Bay Lowlands of Northern Ontario. Spider closed up 1 to 13.

Archangel Diamonds rocketed 15 and closed at 50 with 811,200 shares traded. The company holds the right to earn a 40% interest in all profits from the mining of diamonds from the 400 sq. km Verkhotina area, which hosts the Grib pipe, in the Oblast of Arkhangel’sk in northwestern Russia. For the past three years, Archangel has persistently sought political and legal assistance in an effort to cause its Russian joint venture partner to transfer the diamond license to its 40%-owned company, Almazny Bereg.

Alberta Star lost a penny and closed at 27 with 492,114 shares traded. The company holds the Longtom property, an iron oxide, copper, gold, prospect near Longtom lake in the Northwest Territories.