Trading Summary (September 28, 2001)

The hot-and-cold gold sector was the only blemish on the Toronto Stock Exchange on Friday, falling 9.7 points to 5,416.56 points. The TSE 300 composite index gained 169.15 points or more than 2.5%. The Industrial Products subindex led the recovery gaining 4.12%. All of the major U.S. markets saw increases of about 2%.

In New York, Gold edged up US90 to US$291.85 per oz., silver gained US7 to US$4.65 per oz. Platinum and palladium continued their free-fall dropping US$9 and US$18 per oz., respectively. Platinum ended the day at US$430 per oz., palladium at US$352 per oz., both well off recent highs. The base metals all regained some ground in Europe.

Nelson Resources was the most active mining issue with more than 3.3 million shares changing hands. The issue climbed a penny to 35. Close behind was Barrick Gold with just less than 3 million shares on the go. The stock dropped 16 to $27.59. Kinross Gold gained a penny to $1.53 on about 2.1 million shares. Cambior put in a nice percentage gain rising 7 or 8.4% to 90 after upping reserves at its jointly owned Sleeping Giant mine in northwestern Qubec. Partner Aurizon Mines gained 4 or 12.1% to 37.

Partners Miramar Mining and Hope Bay Gold also released drill results from their Hope Bay gold project in Nunavut. Miramar shed 14 to 95 while Hope Bay Gold was unchanged at 26.

Alcan gained $1.72 to $47.42 with about 939,000 shares traded making it the country’s busiest base metal miner. Alcan announced on Friday that it lowered its posted U.S. transaction prices for October by US1 per lb. from September. Alcan dropped the price for 99.7% remelt ingot to 69 per lb. and for 6063 extrusion billet to 79 per lb. Right behind Alcan was zinc miner Breakwater Resources, which dropped another dime or 11.1% to 16, nearer its 14 year-low. Teck Cominco shares gained 31 to $10.75.

On Friday, Teck Cominco said the sale of its Australian PacMin gold unit to Sons of Gwalia (SGW) will little impact on its fourth-quarter earnings. The Vancouver-based company announced that had accepted SGW’s offer worth about $100 million in Gwalia shares and $40 million in cash. Teck Cominco will also get a 12% stake in SGW.

All indexes on the Canadian Venture Exchange ended the day in positive territory. The composite index jumped 67.97 points, or 2.5%, and closed at 2838.94. The mining index rallied 167.77 points, or 2.4%, and closed at 7218.30.

Masuparia Gold topped the most actively traded chart among junior explorers gaining 3 to close at 15 on 1.8 million shares. The company launched an exploration program over the Greywacke gold property north of La Ronge Saskatchewan. The first reported drill hole, of a 1,000-metre program, cut 22.9 grams gold per tonne over 4.14 metres. JNR Resources currently holds a 50% interest in the Greywacke property – Masuparia stands to earn a 70% interest in the project. JNR closed up a penny to 7 on 207,000 shares

Poplar Resources continued its sea-saw-trading pattern ahead of drill results from the Bottenbacken polymetallic project in Central Sweden. Shares in the junior dropped 2 to 23 on a volume of 672,550. The company’s 65%-owned subsidiary is currently drilling the third of a planned 20-hole program over the property.

Inca Pacific Resource added a penny to its value and closed at 18 with 530,000 shares traded. The company’s joint venture partner on the Magistral copper property in Peru just completed a drill program, while to the north, another joint venture partner is in the midst of a 5,000-metre drill program over the Cueva Blanca gold property, both in Peru.