Trading Summary (August 09, 2002)

Toronto stocks finished higher on Friday with advancers leading decliners 564 to 408. A rally in the gold sector coupled with positive statistics concerning the Canadian job market provided bullish incentive. The Toronto Stock Exchange’s GSP/TSX composite index closed up 33.76 points, or 0.51%, and finished the week at 6,645.92. Volume was a thin with 121.7 million shares traded valued at $1.61 billion.

In New York, gold added US$3.70 per oz. to US$314.10 per oz, as platinum gained US$6 to reach US$550 per oz.

Kinross Gold was the most traded gold miner for the second straight day adding 9 to its value and closing at $2.87 on a volume of about 3.5 million shares. Placer Dome found 65 and closed at $14.30 on 2.8 million shares while Gold Corp. jumped 94 to $14.67 on 15 million shares. Barrick Gold added $1.09 to its value and finished the day at $25.33 with 1.5 million shares changing hands.

Nickel miner Inco was the most traded of the base metal issues gaining $1.09 to $27.53 on more than 1.5 million shares. Alcan was next in line climbing 75 to $44.11 on just over 1.0 million shares.

Ivanhoe Mines earned back what it lost yesterday closing up a dime to $2.95 on 628,000 shares. On Wednesday, Ivanhoe reported that its Eunsan gold-silver mine in South Korea has reached commercial production. At full steam, the mine is expected to crank out 50,000 oz. gold and 118,000 oz. silver annually, for at least two years.

Eldorado Gold finished the week up 7 to $1.23 on 581,340 shares and Bema Gold closed up a nickel to $1.87 with 541,877 shares crossing the floor.

Canada’s junior exchange managed to win back some of its losses yesterday as it rallied with the price of gold. The TSX Venture Exchange composite index closed up 3.64 points, or 0.35% to 1032.48 with 24.3 million shares traded.

Northern Dynasty Minerals remained steady at $1.00 with 672,000 shares traded. The company recently announced that its common shares are also trading on the OTC Bulletin Board in the US. under the symbol NDMLF. The junior has kicked off a major, multi-rig drilling program at the Pebble gold-copper project located in southwestern Alaska.

Diagem international Resource tacked on 2 and closed at 20 on 442,500 shares. Initial results from Diagem’s bulk testing program on its 108 property from test pit #7 yielded 888 diamonds weighing 75.45 carats, with sizes up to 2.05 carats. Results from test Pits 8 and 9, along with an overall summary of the entire program are expected shortly.

ECU Silver Mining lost a penny and closed at 4 with 340,000 shares traded. The company recently inked a deal with Trustyard Capital for a private placement of $300,000. ECU Silver owns the Velardena silver mine in central Mexico which has a resource of 2.4 million tonnes grading 269 grams silver and 2.80 grams gold per tonne.

Eurozinc Mining lost 3 and closed at 6 with 300,000 shares traded. The company owns the Aljustrel zinc-copper deposit in southern Portugal.