Trading Summary (December 13, 2001)

Grim news from technology stocks south of the border sent the Toronto Stock Exchange down to levels not seen in about three months on Thursday. The TSE 300 composite index shrank by 126.46 points or about 1.7% to 7,577.66. The technology-heavy Industrial Products subgroup plummeted 5.6% to end at 3,768.15. The Utilities sector gained 0.7% to lead the three advancing subindicies. The golds scraped together 16.53 points to end at 4,885.99.

Asia Pacific Resources saw increased trading on Thursday with more than 2.3 million shares enough to make it the busiest mining issues in the country. The stock was finished unchanged at 15.The company recently revised the terms for the conversion of the its convertible debentures and plans for funding project development requirements. The changes eliminate two key conditions that had to be satisfied before the debenture holders would commit to convert. Following conversion debenture holders will hold 60.4% of the company’s outstanding shares, assuming that the rights issue is fully subscribed. The company is attempting to break into the potash industry in the Pacific Rim.

Barrick Gold was the next busiest gaining 15 to $24.60 on more just more than 1.8 million shares. Placer Dome lost a nickel to $16.79 on just more than one million shares. The rest of the golds traded sideways.

Some big percentage movers in the junior ranks were: Dayton Mining, off 7 or 16% to 37; Geomaque Exploration, down a penny or 14% to 6; Northern Orion Exploration, 2 or 40% higher at 7; Etruscan Resources found a nickel or 17% to hit 35; and Minco Mining & Metals surged a dime or 50% to 30.

Teck Cominco headed up the base metal issues with less than 1 million shares crossing the floor to lose a dime to $11.90. Most of the others performed similarly. Noranda stood out gaining 33 to $14.50. Alcan dropped $2 to $55.60 and Aur Resources fell a dime to $2.90.

After opening lower Inmet Mining finished up unchanged at $2.80. On Thursday, Inmet announced plans to boosts its interest in the Cayeli zinc-copper mine in Turkey by acquiring a Turkish company’s 6% in the project. If approved, the deal would see Inmet’s stake climb to 55%.

Canada’s junior exchange followed the major bourses lower on heavy volume. The S&P-CDNX Composite Index ended the session down 11.73 points, or 1.2% to close at 985.37.

A big percentage loser, Northern Continental Resources lost 4 to end the day at 8 on 320,375 shares. The junior has been drilling the Russell Lake uranium project in northern Saskatchewan. The program is designed to test primary target areas along the south-eastern portion of the Grayling geophysical conductor.

Poplar Resources gave back most of yesterday’s gains following the latest batch of assay results from an on going drill program over its Bottenbacken polymetallic property in Sweden. Stock in the company fell 4 to 12 on a moderate 147,000 shares. Three of four holes drilled into the Central zone returned low grade copper, platinum, palladium, gold values.

Foran Mining dropped 1 to close at 9 on 244,000 shares. The junior has been attempting to raise financing aimed at advancing the Mcllvenna Bay massive sulphide property in Saskatchewan.

American Bonanza Gold Mining ended the day flat at 3 on 446,400 shares. The cash strapped junior has been working the Copperstone gold property in Arizona.