TSE SHORTS (March 31, 1997)

Short positions outstanding at March 15, 1997

Larger individual positions included: Barrick Gold 11,043,672, down 561,749; Agnico-Eagle 224,166; AJ Perron Gold 376,400; Antares Mining & Exploration 215,000, up 134,500; Anvil Range Mining 742,900; Amax Gold 100,070, down 56,600; Bema Gold 4,429,088; Breakwater Resources 215,400; Bre-X Minerals 358,060, down 156,900; Cambior 103,150; Campbell Resources 2,242,100; Cameco 990,900, up 436,526; Cominco 349,500; Dayton Mining 1,090,750, up 284,774; Dakota Mining 722,600; Eldorado Gold 1,156,900; Euro-Nevada Mining 533,090, down 527,634; Falconbridge 174,500, up 66,100; Geomaque 352,175; Great Lakes Minerals 480,600, up 348,100; Golden Rule Resources 125,619, up 54,115; Gulf Canada Resources 259,568, up 63,537; Greenstone Resources 2,672,608, up 94,400; Getty Copper 129,500, up 129,500; Inmet Mining 430,257, down 105,089; Indochina Goldfields 1,204,900; Kinross Gold 267,975; Kap Resources 114,100; Meridian Gold 813,800, down 137,407; Inco 5,588,638, up 284,695; Norcen Energy Resources 238,204, down 53,759; Noranda 1,181,615, down 361,229; Novicourt 490,100, down 273,400; Northrock Resources 179,900; Nevsun Resources 130,900; Pacalta Resources 136,100, up 87,100; Placer Dome 2,248,325; Pegasus Gold 116,600; Princeton Mining 1,628,000; Pure Gold Resources 300,473; Quest Int’l Resources 257,000; Queenstake Resources 190,100; Romarco Minerals 178,900, up 120,500; Rio Algom 339,875, up 93,500; SouthernEra Resources 135,300; Tiomin Resources 343,800, up 157,700; TVX Gold 783,050; Upton Resources 180,300; Vengold 599,350, up 105,450; Vista Gold 128,800; William Resources 3,155,081, down 939,661; Yamana Resources 2,921,175, down 127,679.