TSE SHORT POSITIONS (July 25, 1994)

Semi-monthly reports as of Jun 30, 1994 showed 249,548,306 shares of 870 issues compared with 248,555,294 shares of 866 issues on Jun 15, 1994.

Larger individual positions included: Aber 51,200, down 108,241; Acadia Min. 2,500, down 91,600; Adrian Res. 257,500, up 69,000; Amer. Barrick 3,584,452, up 116,230; Anderson Expl. 31,300, up 29,300; Archer Res. 3,300, down 33,600; Arimetco Int’l. 582,550; Battle Mountain 38,674, up 38,674; Bema Gold 249,700; Cabre Expl. 189,200, up 180,100; Caledonia M’g. 93,300; Cambior 184,000, up 46,300; Cameco 1,812,400, up 58,000; Caribgold 61,000; Cathedral Gold 1,250, down 43,750; Cominco Ltd. 167,300, up 130,800; Cominco Res. Intl. 78,200, down 169,530; Comstate Res. 50,600; Cons. Ramrod 127,100; Conwest Expl. 87,507, up 84,607; Dayton M’g. 378,541; Deak Res. 244,400; Denison ClA 148,460; Dia Met Min. 121,140; Dofasco 3,636,160, up 222,463; Dorset Expl. 49,700, up 41,300; Echo Bay 523,932, up 210,008; Eden Roc Min. 62,600; Euro-Nevada 540,223, down 62,072; Falconbridge 234,000, up 234,000; Franco-Nevada M’g. 209,991, down 50,954; Gold Reserve 208,500; Golden Star 345,400; Greater Lenora 61,500, up 49,400; Hemlo Gold 655,950; Inco 750,938, up 360,972; Intl Skyline Gold 3,000, down 44,700; Intl Gold Res. 30,500, up 29,700; Joutel Res. 183,500, up 157,000; Kinross Gold 268,530, down 1,064,020; Lac Minerals 767,513, up 146,945; Lytton Min. 588,300; Metall M’g. 1,632,749, down 60,278; Minera Rayrock svA 101,500; Miramar M’g. 739,900, down 51,895; Muscocho Expl. 164,800; Noranda 4,046,335, up 69,305; Novicourt 140,400; Orvana Minerals 79,900; Placer Dome 1,859,800, up 548,700; Platinova A/S 364,300, up 344,900; Potash Corp. of Sask. 1,431,991, up 634,292; Queenstake 60,300; Repadre Capital 76,400; Rio Algom 982,480, down 4,070,400; Royal Oak 2,459,700; Sherritt Inc. 448,900, down 206,100;South Amer. Gld/Coppr 0, down 28,600; SouthernEra 123,281, down 47,419; Teck svB 480,800, up 158,300; Thunderwood 184,143; Tombstone Expl. 16,600, down 57,300; TVX Gold 137,200, up 107,200; Tyler Res. 63,236; Western Garnet 547,500; Wheaton River 500, down 52,850.