TSE SHORTS POSITIONS (May 18, 1998)

Short positions outstanding at April 30, 1998

Larger individual positions included: Abacan Resource 146,100; Abitibi Consolidated 853,022; Agnico-Eagle Mines 370,955, up 240,255; Anderson Exploration 71,400, down 501,037; Ashton Mining of Canada 102,900; Asia Pacific Resources 134,400; Barrick Gold 13,623,212, down 570,967; Bema Gold 261,345, up 249,945; Black Swan Mining 226,000; Boliden 127,864, up 69,189; Campbell Resources 2,106,630, down 434,576; Canadian Natural Resources 164,531; Dakota Mining 251,607, down 342,319; Dayton Mining 963,126, down 69,476; Echo Bay Mines 868,700, down 255,322; Euro-Nevada Mining 843,608; Falconbridge 116,240; Greenstone Resources 180,338; Gulf Canada 117,430, down 356,212; Gulfstream Resources 128,900, up 109,200; Inco 2,877,263, down 218,921; Kinross Gold 5,604,085, up 1,438,846; Noranda 1,169,770, down 195,788; Pacalta Resources 357,120, down 370,080; Pegasus Gold 538,200, down 314,800; Pioneer Natural Resources 213,200; Placer Dome 1,794,399; Princeton Mining 3,111,198, up 201,000; Rea Gold 1,106,500; Rio Algom 2,317,500, up 78,100; Rio Alto 124,000, down 95,600; Royal Oak Mines 2,685,050, 191,200; Samax Gold 160,000; SouthernEra Resources 139,800; Tiomin Resources 115,900; TVX Gold 572,357, down 222,488; United Keno Hill 242,200; Vengold 273,700, down 321,400; William Resources 831,835, down 244,033.