Trading Summary – TSX (February 10, 2004)

The Toronto Stock Exchange began the week with a 56.59-point climb to 8,695.2 as all of its subindices ended in the black. The gold index led the way climbing 1.7% to 218.46; the diversified miners rose 1.1% to 218.6.

Tahera ended the day as the nation’s most-traded stock dropping 3 pennies to 56 with nearly 42 million shares changing hands. The Nunavut Impact Review Board has conditional approved the company’s environmental impact statement for the Jericho diamond deposit in Nunavut. The report has been forwarded to the Ministry of Indian and Northern Affairs for federal approval.

Wheaton River Minerals finished a distant second volume-wise with just more than 7.1 million shares making their way 3 higher to $3.69. TVI Pacific was next in line with a 4, or 13.5%, rise to 33.5 on just shy of 5.1 million shares. TVI recently released an updated resource estimate at its Canatuan polymetallic project in the Philippines, and Lafayette Mining of Australia has begun construction at the Rapu Rapu polymetallic project, also in the Philippines. TVI retains a 2.5% net smelter return in the latter.

Written affirmation of government support for the Kwale titanium-sands project in Kenya sent shares in Tiomin Resources 5.5, or nearly 17%, higher to 38.5. The company also says that the project’s fiscal/investment agreement has entered the final stages of negotiation. The oft-delay project still requires formal approval. Tiomin hopes to begin construction at Kwale later this year.

On the diamond watch, Ashton Mining of Canada jumped a quarter, or 15%, to $1.87 after it announced late on Friday that a lawsuit initiated by Pure Gold Minerals has been settled, and the Slave joint venture has been terminated. The pair had explored for diamonds in the Slave geological province since 1993. The joint venture was held 90% by Ashton and 10% Pure Gold. The settlement also calls for Pure Gold to transfer its stake in the joint venture properties to Ashton in exchange for a 1.5% diamond royalty. Pure gold must also grant Ashton a 1% diamond royalty on its half-owned 400-sq.-km North James River property in Nunavut. For their part, Pure Gold’s shares finished half a penny higher at 12.