The Toronto Stock Exchange 300 composite index ended Tuesday, March 12, 2002 lower as technolgy shares were hit hard by a gloomy outlook from U.S. telecoms equipment giant Lucent Technologies. Canada’s major bourse lost 42.06 points, or 0.53% at 7,866.10.
Canada’s junior exchange started the trading week off in a mixed mood with decliners leading advancers by a 251-to-206 margin. The S&P-CDNX Composite Index dropped 5 points, or 0.4% TO close at 1157.55.
Spider Resources topped the most actively traded chart among junior explorers adding 1 to close at 9 on nearly 1.6 million shares. The junior recently announced the recovery of 8 macrodiamonds from a second mini-bulk sample collected from its Wawa property in northern Ontario.
Shares in American Bonanza Gold Mining got a boost from news that Toronto-listed Royal Gold inked a US$1.7 million deal to get a 3% net smelter royalty from the junior’s wholly owned Copperstone gold project in Arizona. Also included in the agreement is a 45% net profits royalty interest on the proceeds from a high-grade bulk sample program proposed for this year. American Bonanza ended the day at 12, up 2 on 1 million shares.
Pan Asia Mining ended the session flat at 6 on 581,000 shares. The company is seeking a minium $500, 000 financing to advance its diamond projects in China.
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