Toronto stocks managed to close out the week with modest gains despite a 2% decline in the gold subindex. The S&P/TSX Composite Index ended up 14.15 points, or 0.2% at 6,571.72 points.
Kinross Gold lost 1 to $2.91 with about 3.8 million shares on the move — enough to rank as Canada’s most traded gold miner. Placer Dome was nipping at its heals losing 46 to $14.10 on just over 3.3 million shares and Barrick Gold followed suit dropping 45 to close at $24.55 on 910,000 shares.
The base metal issues faced a mixed session with Alcan dropping $1.25 to $41.40. Others had a quiet session with Inco losing 35 to $26.55, and Aur Resources, gaining 12 to close at $3.47.
Canada’s junior exchange ended the day virtually unchanged as a lack of news drove investors to the side lines. The TSX Venture Composite Exchange dropped 0.18 of a point to close at 1,011.98.
Spider Resourcesended the day flat at 5 on nearly 1million shares. The junior recently reported the recovery of 167 diamonds from twelve (15 kilogram) regional rock samples from its joint ventured ground near Wawa, Ontario.
Starfield Resources lost 2 to close at 40 on 251,000 shares. The company has been activley drilling the Ferguson Lake nickel-copper-platinum-palladium property in Nunavut.
Anooraq Resources ended the session flat at 85 on 70,000 shares. The Hunter Dickinson-led juniors’ joint venture partner on its Rietfontein platinum-group-metal prospect in the Bushveld camp of South Africa had intersected rocks identified as the favourable Platreef horizon. Assay results are pending.
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