Trading Summary (August 28, 2003)

The Toronto stock Exchange joined the rest of North American bourses making a modest 16.34-point gain to 7,516.95 on Thursday. Despite a US$2.40-per-oz. drop in the price of gold to US$369.90 per oz. in New York, the gold index managed to edge 0.4 of a point higher to 202.84. The base metal miners fared a bit better, tacking on 1.42 points to reach 151.16.

Having reported obscenely improved earnings, Wheaton River Minerals ended the day with nearly 18 million shares finding their way 17, or 8% of value, higher to $2.26, ranking it as the nation’s busiest stock. Wheaton’s second-quarter earnings increased five-fold to US$11.1 million as sales revenue ballooned to US$28.8 million from just US$915,000 in the corresponding period of 2002.

The country’s remaining gold miners were well represented on the TSX’s most-traded list. Queenstake Resources stood out from the pack with a 4 fall to 82 with 3.4 million shares changing hands. Queenstake recently beefed up its management team in order to complete the acquisition of the Jerritt Canyon mine from Meridian Gold. The company expects to produce 300,000 oz. in 2003. For its part, Meridian ended unchanged at $19.07.

Also standing out was International Curator, which leapt 5.5, or nearly 70% of value, to 13.5. The company has 6 active gold projects comprising ten high-grade, gold-vein systems and 5 bulk-tonnage gold targets. The junior’s annual and special general meeting was recently postponed by 2 weeks until Sept. 25.

Shares in Gabriel Resources slipped a penny to $3.30 after the company updated its Rosia Montana project in Romania. The company says it has acquired more than 30% of the necessary residential properties required to allow for construction of the mine, plant, infrastructure and tailings management facility. Despite the land acquisitions taking longer than expected, the company figures the initial phase should wrap up on time.

Canada’s major bullion producers all put in modest gains.

Inco was the busiest base metal miner, gaining 70 to make $34.47. Unionized workers at Inco’s Sudbury operation began voting Thursday on the nickel giant’s latest three-year contract offer. The union recommended its members accept the offer, aimed at ending the 13-week strike.

Junior Jaguar Nickel returned much of Wednesday’s gains, falling 8, or 10.4%, to 69. The company recently completed a private placement of about 3.2 million shares at a quarter apiece for gross proceeds of $813,750. If all warrants issued under the deal are exercised, Jaguar would see another $1.6 million fall into its coffers.

Canada’s junior exchange hit yet another yearly high with investors gobbling up gold related issues.The S&P-TSX Venture Exchange composite index gained 6.40 points, or 0.49%, and closed at 1,305.09.

PMI Ventures dropped 1 to close at 63 on over 1 million shares traded. The junior recently announced a $2 million financing comprising 4.44 million units priced at $0.45 each. The funds will be used on the junior’s Ghanaian gold properties.

American Bonanza Gold Mining dropped a penny to close at 31.5 on 913,300 shares traded. The company is working the Copperstone project in Arizona, and currently drilling the Gold Bar property in Nevada.

Linear Resources added 7 to close at $1.06 on 840,600 shares traded. The company entered into a letter of intent to purchase the mineral exploration portfolio of MIM Exploration in Central America.