Trading Summary (September 30, 2002)

The Toronto Stock Exchange’s gold stocks enjoyed a US$3.90-per-oz. rise to US$323.80 in New York, and tacked on 3.25 points to end the day at 186.07 on Monday. The base metal miners managed to grab 0.58 of a point to make 109.57 points. With just two subindices finishing in the red, the S&P/TSX Composite Index came in 69.31 points higher at 6,180.42 points.

With gold’s surge, Barrick Gold regained 95 to $24.75 with about 3.5 million shares changing hands. Making a surprise appearance on the most traded list was Platinova Resources, which had its shares price halved to 1 with about 2.6 million shares traded. Canada’s remaining gold major’s rounded out the TSX’s top ten traded list. Placer Domerose 27 to $14.55, and Kinross Gold advanced 8 to $3.49.

Alcan ended unchanged at $39.25 on about 1.3 million shares to rank as the most active base metal miner. The aluminum giant has completed the sale of some molded glass operations in Park Hills, Mo., Mays Landing, Williamstown and Millville, N.J to Glass Group for an undisclosed amount.

Alcan and its partners also recently gave the thumbs up to an expansion of the Aluminerie Alouette smelter in Sept-Iles, Que. The $1.4-billion plan will more than double capacity to 550,000 tonnes, making it the biggest smelter in North America. First production at the expanded capacity is set for February 2005. The smelter’s remaining stakeholders are Norsk Hydro and Austria Metall, with 20% apiece, SGF, with 13.33%, and Marubeni, with 6.67%.

Falconbridge slipped 4 to $14.56 on fewer than 400,000 shares after announcing the weekend ratification of a new three-year deal with workers at its Kidd Creek operations in Timmins, Ont.

Also making news was LionOre Mining International, which made 8 to reach $3.63. The company has wrapped up its $75.9-million acquisition of Anglo American’s 43.35% interest in Tati Nickel Mining Co. LionOre now owns 85% ownership of Tati; the Government of Botswana has the remaining 15%.

Canada’s junior exchange started the trading week off with a lack of buyers and waves of sellers. The S&P TSX Venture Exchange composite index lost 2.25 points or 0.2%, and closed at 951.30.

Despite a reasonable showing for the price of bullion, shares in Andean American lost 9 to close at 63 on a volume of 463,515. The junior has been trying to iron out start up problems at is modest scale Santa Rosa operation in Peru.

TNR Resources added 2 to close at 20 on 269,100 shares. The junior recently announced that a new drill program is underway of the Rock Creek gold property in Alaska.

International Wayside Gold Mines lost 3 to close at 11 on 247,048 shares. The Frank Callaghan-led company has been trying to advance the Bonanza ledge discovery on its Cariboo gold project near Quesnel.

Pan Asia Mining ended the session flat at 2 on 356,000 shares. The cash strapped junior has been attempting to advance a series of diamond projects in China.