Trading Summary (February 12, 2002)

The golds issues on the Toronto Stock Exchange managed to take back 124.22 points after a major fall on Tuesday. The 2.1% gain pushed the subindex back to 6,069.89 points. The base metal issues along with most of the other subindices fell 30.75 points to 4,427.85. Overall, the TSE dropped 60.71 points to 7,543.8.

In New York, Gold grabbed US50 to break through the US$300-per-oz. level coming to rest at US$300.30 per oz. Silver tacked on US6 2 to hit US$4.47 per oz. and palladium gained US$2 to US$369 per oz. Platinum fell US( to US$461 per oz. The base metals were little change in mixed action.

Kinross gold was the busiest miner, and the TSE’s third most active issue, with more than 4 million shares crossing the floor only to lose 3 to $1.67. On Tuesday, Kinross announced that it has completed the sale of 23 million common for gross proceeds of more than $31 million.

Placer Dome was next gaining 58 to $20.44 on about 3.3 million shares. According to Reuters, Placer and South Africa’s Aquarius Platinum held unsuccessful merger talks. Barrick Gold was the final miner to make the top ten adding 59 to reach $29.04 with just more than 2 million shares on the go.

Pure Gold Minerals fell 1.5 or 7.7% to 18 on about 712,600 shares. On Tuesday, the company and equal partner Ditem Explorations announced the staking of 15,000 acres of prospective ground around their Beaver Lake diamond property in the Otish Mountains area of northern Quebec.

Teck Cominco’s B series finished the day off 26 higher at $14 with just less than 670,000 shares traded. Others on the rise were: Sherritt International, a penny higher at $4.26; Noranda, up 4 to $15.81; and Breakwater Resources, plus 1.5 to 28.

Canada’s junior exchange managed to post gains despite decliners outpacing advancers by a 248-to-199 margin. The S&P-CDNX Composite Index tacked on 2.82 points, or 0.2% to close at 1152.87.

Samex Mining continued to attract traders ending the day up 3 to 19 on 444,800 shares. The junior has been seeking a joint venture partner or financing for the Eskapa Core zone in Chile.

NovaWest Resources added 1 to close at 21 on 496,100 shares. The junior has been busy trying to raise financing for another round of drilling over the Nickel Royale nickel-copper-platinum-palladium project in southwestern Ontario.

Making a nice percentage move, TNR Resources added 5 to close at 19 on 434,000 shares. The junior is aiming to advance the La Ortiga gold project in the San Juan province of Argentina.

Marum Resources lost 1 to close at 12 on 268,000 shares. The company has the drill rig ready to turn on Anomaly 7 at the Birch Mountain diamond property in northern Alberta.

National Gold ended the session flat at 35 on 60,500 shares. The company’s joint venture partner, Alamos Minerals is drilling the Salamandra gold property in Mexico. Alamos ended the day unchanged at 43 on light volume.