TSE SHORT POSITIONS (January 06, 1997)

Short positions outstanding at December 15, 1996

Larger individual positions included: Barrick Gold 10,999,002, down 1,002,994; Agnico-Eagle 447,992, down 97,393; Archer Resources 299,100; Anvil Range Mining 219,800, down 318,520; Aur Resources 207,411, down 212,075; Bema Gold 5,320,233, up 1,223,196; Bre-X Minerals 678,000, down 79,500; Caledonia Mining 108,900; Campbell Resources 1,532,600 down 327,928; Chase Resource 5,100, down 95,483; Dayton Mining 322,437, down 35,603; Eldorado Gold 988,500, up 906,900; Euro-Nevada Mining 1,083,945, down 48,499; Falconbridge 1,379,100, up 924,300; Franco-Navada Mining 380,616; Geomaque Explorations 133,250, down 64,350; Gulf Canada Resources 213,144, down 224,680; Greenstone Resources 2,149,819, down 226,800; Golden Star Resources 291,750; Inmet Mining 422,946, down 452,754; Jascan Resources 979,225, up 853,425; Kinross Gold 1,543,551, down 613,604; Cons Eurocan 215,100; Lytton Minerals 109,900; Manhattan Minerals 118,300, up 61,600; Meridian Gold 100,407, down 141,458; Inco 4,698,908, down 673,669; Noranda 1,284,535, down 87,675; Novicourt 787,000; Nevsun Resources 115,300; Orvana Minerals 131,000, up 64,400; Placer Dome 1,960,900, down 147,100; Pangea Goldfields 115,578, up 50,100; Princeton Mining 1,656,360, up 102,080; Prime Resources 0, down 203,600; Queenstake Resources 145,200; St. Genevieve 103,300, up 51,400; TVX Gold 838,177, up 287,202; United Keno Hill 430,700; Upton Resources 42,700, down 119,000; Vengold 230,400; Vista Gold 105,800; William Resources 2,123,168, up 553,792; Westmin Resources 6,668,475, up 420,359; World Wide Minerals 311,800, down 411,900; Yamana Resources 324,104.