Trading Summary (June 19, 2002)

Just two of the Toronto Stock Exchange’s subindices the health care and real estate sectors, managed to finish in the black, and just barely. More violence in the Middle East propelled gold US70 per oz. higher to US$319.60 per oz. in New York, but the TSX’s gold index failed to capitalize dropping 1.8 points to 197.85 points. The base metal issues lost 0.74 of a point to 144.6. Overall, the S&P/TSX Composite Index returned to its losing ways shedding 79.78 points or 1.1% to 7,247.76 points.

Kinross Gold remained active tacking on 3 to make $3.35 with nearly 5 million shares on the go. Placer Dome rounded out the TSX’x top ten traded list falling 20 to $19.15 on about 2.8 million shares.

Other gold miners making gains were TVX Gold, up a nickel to $2.14 and Echo Bay Mines, 6 higher at $1.76. The two, along with Kinross recently announced a three-way merger deal. Another on the rise was Cambior, which grabbed a dime to hit $2. Cambior recently announced a halving of its gold hedging requirements.

NovaGold Resources claimed 18 to make $4.45 and Glamis Gold rose 60 to $14. Nova recently reported more encouraging drill results from its Donlin Creek project in Alaska and Glamis recently tabled a feasibility study update on its El Sauzal project in Mexico.

Sherritt International was the most traded base metal miner edging up 4 to $5.45 on a volume of more than 1.2 million shares. Teck Cominco’s B series was next in line with just more than a million shares traded. The issue slipped 20 to $13.10. On Wednesday, the company announced changes to the senior executive responsibilities, but has still not announced a replacement for president Steven Dean who will step down July 8 to pursue other interests.

Uranium miner Cameco fell 13 to $41.25 after announcing that it plans to buy the Smith Ranch uranium in situ leach (ISL) mine and various other ISL properties in Wyoming, from BHP Billiton’s subsidiary Rio Algom.

In diamond news, DiamondWorks continued 6 higher to 50 on thin volume. The company recently agreed to take on an equal partner to help operate its 60% stake in the Koidu kimberlite project in Sierra Leone.

The S&P TSX Venture Exchange composite index lost 3.10 points, or 0.26%, over the trading day, and closed at 1187.46 on a volume of 34.5 million shares.

American Bonanza found a penny and closed at 19 on 1.1 million shares. The company completed a public offering of 15.4 million units at $0.13 per unit – for a gross proceeds of $2 million. The proceeds from the financing will go towards the exploration and further development of the company’s Copperstone project in Arizona. The project has an estimated total resource of 2.1 million tons at an average uncut grade of 0.58 oz. gold per ton. In addition the company will drill test extensions of known high-grade mineralization on its wholly-owned Pamlico project in Nevada.

Anaconda Uranium is seeking shareholder approval to roll back its shares on a three to one basis and change its name to “Anaconda Gold Corp.” In addition the company wants to acquire a 100% interest in the Lingman Lake and Borthwick Lake properties from Wolfden Resources in exchange for 4 million post-consolidated common shares. If approved, Wolfden will hold approximately 25.9% of the issued and outstanding shares of Anaconda. Anaconda closed at 10 up 6 on 984,000 shares

International Wayside Gold Mines closed flat at 19 on 431,000 shares. The company released assays from a drill program 2,000 feet northwest and along strike of the Bonanza Ledge discovery on the flank of Barkerville Mountain, near Wells B. C. The best values received were; 52 feet core length (51 feet true thickness) grading 22.97 grams gold per tonne in hole BC02-03, 15.5 feet grading 13.17 grams gold per tonne in drill hole BC02-02 and 3 feet grading 3.99 grams gold in drill hole BC02-01. This year’s drill program is focusing on extending the BC Vein/Bonanza Ledge to the northwest. Assays for drill holes BC02-04, 05, 06 and 07 are pending.

Castle Metals lost a penny and closed at 3 with 400,000 shares traded. The company is seeking shareholder approval to roll back its shares on a 10 for 1 basis and rename the company "New Castle Ventures."

Gallery Resources remained steady at 19 with 369,000 shares crossing the floor. The company plans to conduct a private placement worth $450,000. The proceeds will be used for the current exploration programs and general working capital. The company has been focusing on its Black Bart Katie property for its volcanogenic massive sulphide, zinc-lead-copper mineralization potential.