Trading Summary (September 04, 2002)

The Toronto Stock Exchange ended a see-saw day 64.21 points or about 1% higher at 6,517.71 at the week’s midway point. The golds finally surrender the spotlight dropping 1.85 points to 188.37, after a steady climb of late. The tech stocks took over gaining more than 5% paced on by a Nortel-led rally fed by bargain hunters.

Kinross Gold managed to end the day unchanged at $3.26 as more than 8.1 million shares were bought and sold. Similarly, Geomaque Explorations finished unchanged at 8 with nearly 6.2 million shares on the go. Geomaque recently announced plans for a private placement of more than 22 million treasury shares at 6.75 apiece.

Placer Dome dropped 2 pennies to hit $16.16 on just fewer than 5 million shares. The company has yet again extended its bid for Aussie gold miner AurionGold. The offer runs until Sept. 10.

Barrick Gold just missed the TSX’s top ten traded list slipping 46 to $24.90. GoldCorp dropped 32 to $16.43. On Wednesday, the company announced it will boost its annual dividend by half a penny to US3 per share. Shareholders of record on Sept. 16, will receive payment on Sept. 23.

Cambior stood out among the golds gaining 8 to hit $1.85. The company recently released the positive results from a feasibility study of it Rosebel open-pit gold [project in Suriname. The new plan includes transitional and hard-rock ores boosting reserves by 43% over a December 2000 prefeasibility study.

The base metal miners fared a bit better rising 1.54 points or 1.3% to 117.13 points. Inco led the way advancing 20 to $27.35 on nearly 1.9 million shares. Other index components to make gains were: Teck Cominco’s B series, plus 35 to $10.48; Noranda, up 15 to $16.45; and Cameco, 75 higher at $31.25.

In the junior ranks, Nuinsco Resources found a penny or about 5% to make 20. On Wednesday, Nuinsco launched an exploration program on the 5-sq.-km Prairie Lake tantalum property near Marathon, Ont.

The TSX Venture Exchange composite index tumbled 9.26 points or 0.91% and closed the day at 1005.80 with 27.6 million shares traded.

Camphor Ventures jumped 10 and closed at 34 on 484,000 shares. Investors are waiting for results form the bulk sampling program on the Hearne and 5034 diamond pipes. De Beers recovered approximately 684 tonnes of kimberlite from the Hearne pipe and about 837 tonnes from the 5034 pipe for a total of 1,521 tonnes. The kimberlite was processed in Grand Prairie, Alberta and the resulting concentrate was shipped to Johannesburg, South Africa for diamond recovery. The Hearne and 5034 pipes are two of the largest and have the two highest grade and diamond values of the five diamondiferous bodies in Kennady Lake, located on the joint-venture’s AK claims in the Northwest Territories.

GGL Diamond tacked on 3 and closed at 23 on 473,000 shares. The company recently arranged financing of 300,000 by way of a private placement of 1,500,000 common shares at $0.20 per share to close on or about September 15, 2002. The subscription proceeds will be used for working capital and an its exploration programs on the Seahorse and Starfish claims in the CH project areas, south and west of Lac de Gras, in the Northwest Territories.

New Blue Ribbon Resources found a penny and closed at 6 on 329,000 shares. Investors are waiting for results of a drill program which commenced this spring on the Legend diamond property in Alberta. The property is a joint venture between New Blue Ribbon (70%), and Montello Resources (30%).