Trading Summary (October 06, 2003)

The Toronto Stock Exchange began the week with a 43.28-point climb to 7,562.87 on Monday, as the technology stocks stood out with a near-2% gain to 25.97. Also sticking out was the health care subindex, which ended 1.7% lower at 67.72. The gold managed to claw back 0.28 of a point after Friday’s free fall. The diversified miners gained 1.31 points to make 168.08.

Investors continued to flee from McWatters Mining sending more than 14.1 million shares half a penny lower to 4. The shares have been in steady decline since the company announced the cessation of mining operations at its Sigma-Lamaque open-pit mine in Val d’Or, Que. Milling will continue as long as stockpiled ore lasts.

Junior gold producer Eldorado Gold was next with more than 2.5 million shares making their way 2 higher to $3.43. Zinc miner Taking the bronze volume-wise was Breakwater Resources. The zinc miner has been enjoying a resurgent interest in that metal of late. The shares took a breather on Monday, falling back a penny to 44 with about 2.6 million shares changing hands.

Kinross Gold was the lone major bullion producer to head higher, ending 9 to the good at $9.70. Barrick Gold fell 7 to $24.85, while Placer Dome shed 11 to hit $18.

Standing out in the junior crowd were Moydow Mines International, plus 5.6% to $1.71, International Curator Resources, up 7.1% to 15, and Gabriel Resources, which finished 8.6% higher at $3.55.

Ivanhoe Mines was the next busiest base metal issue after Breakwater, advancing 30, or 3.7%, to 8.40. Other decent percentage gainers were Tenke Mining, plus 5.4% to $1.75, and American Minerals Fields, up nearly 10% to $1.34. On Monday, AMF announced the addition of Bernard Pryor and John Bentley to its board of directors.

Canada’s junior exchange started the trading week off by moving modestly higher. The S&P-TSX Venture Exchange composite index gained 6.83 points, or 0.49%, and closed at 1,382.67.

Lateegra Resources added 5 to close at 34 on just over 1.36 million shares traded. On Friday, the junior reported a 2.4 oz gold per ton over 27.8 ft was hit on the Clone property, located southeast of Stewart, British Columbia. Hole 2 was a re-drilled hole from a 1997 program. The first two holes of the current campaign are collared in an attempt to confirm historical results from two of the 140 holes drilled on the property during the period from 1995-97. DDH#CL-03-02 was sited close to the collar of, and with the same dip and attitude as, hole 110 (drilled in 1996) which returned 32.9 feet grading 1.28 oz gold. Drill results are currently awaited for the nearby Del Norte property.

Anooraq Resources closed at 87, up 2 on over 1.2 million shares traded. The Hunter Dickinson-led junior has been working the Platreef platinum-palladium project in South Africa.

Spider Resources lost 1 to close at 11 on 592,000 shares traded. The junior along with partner KWG Resources have been working the McFauld’s Lake massive sulphide project in the James Bay lowlands of Ontario. At last report, 6 new electromagnetic anomalies have been delineated by the AEM survey on the joint venture property in the immediate vicinity of the McFauld’s occurrence. KWG closed at 17, down 1 on 561,500 shares traded.