The Toronto Stock Exchange 300 composite index started the trading week off basically unchanged as investor appear to be weighing the good economic reports of late against the possibility of earning warnings coming down the road. Despite a strong showing in the gold sector, Canada’s major bourse lost 2.10 points, or 0.03% to close at 7,908.16.
Five of the 14 TSE subindexes gained ground on the day, as gold stocks showed fresh luster, rising 3% Barrick Gold gained 95 cents to $27.95, Placer Dome added 75 cents to $17.70 and Glamis Gold advanced 20 cents to $7.10.
Canada’s junior exchange started the trading week off in a mixed mood with decliners leading advancers by a 228-to-221 margin. The S&P-CDNX Composite Index ended the session virtually unchanged, down 0.32 point to close at 1162.55.
Oasis Diamond Exploration topped the most actively traded chart gaining 3 to close at 15 on 687,000 shares. Boosting the company’s stock was news that its Enigma property near Wawa, Ontario contains diamonds. An independent sampling program returned 209 diamonds from 186.8 kg of sample.
Shares in Kensington Resources continued to move higher. Diamond recovery results form ten large diameter boreholes at the Fort la Corne diamond project in Saskatchewan are expected to be in hand sometime in the first quarter. Kensington ended the day at $1.28, up 8 on the session with 576,672 shares changing hands.
War Eagle Mining ended the day unchanged at 16 on 604,700 shares. The company is in the midst of financing for the direct shipment of zinc-germanium ore from the Tres Marias mine in eastern Chihuahua state, Mexico.
News that drilling is underway on the Gold Mountain zone on the Kena property near Nelson, BC helped propel shares in Sultan Minerals. The junior added 4 to close at 28 on 580,000 shares.
A nice percentage gainer, Redstar Resources added 2 to close at 5 on 369,000 shares. The junior inked a deal to earn up to 70% interest in several of Rubicon Minerals’ properties in the prolific Red Lake area of Ontario.
Be the first to comment on "Trading Action (March 11, 2002)"