Trading Summary (July 19, 2004)

Gold closed up US5 on July19th, to finish at US$406.35 per oz. in the afternoon in London. The gold index was down by 1.29%, or 2.60 points, to close at 198.68. The diversified metals and mining index stayed at the same level to close at 228.25 points. The S&P TSX composite index was up 0.77%, or 64.34 points, to close at 8,414.80 points.

In a day of low-volume trading, just two mining stocks traded over 2 million shares each.

Wheaton River led the way in volume. It was down 3.14%, or 12, to close at $3.70 on a volume of 3 million shares. Wheaton announced last week that it plans to sell all of the silver produced from its Luismin mining operations in Mexico to Chap Mercantile. Wheaton will own 80% of Chap, which will be renamed Silver Wheaton.

Kinross Gold traded just over 2 million shares and rose 0.26%, or 2, to close at $7.57. Last week, Kinross announced that it has acquired 12.67%, of the issued and outstanding common shares of Anatolia Minerals Development. Anatolia is busy with advanced exploration for gold and base metals in Turkey.

Iamgold fell 2.12%, or 18, to close at $8.30, on a volume of 1.27 million shares. On Friday, among other things Golden Star Resources reported that it will require just 50.1 % of Iamgold’s shareholders to tender to its bid, down from the original 66.7%.

Noranda traded 1.66 million shares, and rose 1.2%, or 29, to close at $24.24. Today, a U.S. bankruptcy court approved an agreement whereby subsidiaries of Noranda and Century Aluminum will buy a respective 50% interest in the Gramercy alumina refinery in Louisiana and an interest in the St. Ann bauxite mine in Jamaica, from Kaiser Aluminum & Chemical for US$23 million, subject to certain closing adjustments.

Diamond Fields International was up 7.6%, or 6, to close at 85, on a volume of 412,863 shares. Last week Diamond Fields entered into an agreement whereby Diamond Fields will acquire, directly or indirectly, diamond exploration licenses in Finland. The licenses include a drill-ready project in the Kuopio – Kaavi kimberlite district of Finland.

Jonpol Explorations fell 10%, or 3, to close at 27 on a volume of 122,500 shares. There was no news to account for the fall.