Short positions outstanding at Jan. 15, 2005 (with changes from Dec. 31).
| Largest short positions | Change | |
| Kinross Gold | 33078914 | -2214285 |
| Goldcorp | 29576417 | 3220576 |
| Cambior | 26551625 | 45135 |
| Sherritt Intl | 17203395 | -27028 |
| Bema Gold | 14441338 | 3412035 |
| Northern Orion Res | 12460021 | 1881984 |
| Hudbay Minerals | 9158115 | 1843676 |
| Golden Star Res | 9135651 | -4531243 |
| Inco | 8049835 | -104890 |
| Barrick Gold | 7922317 | 862353 |
| Ivanhoe Mines | 7820129 | 1001804 |
| Lionore Mining Intl | 7282665 | 430320 |
| Teck Cominco SVB | 6700175 | -267010 |
| Cameco | 6595189 | 64920 |
| Silver Wheaton | 6233392 | -2416600 |
| Largest increases in short position | ||
| Bema Gold | 14441338 | 3412035 |
| Goldcorp | 29576417 | 3220576 |
| Northern Orion Res | 12460021 | 1881984 |
| Hudbay Minerals | 9158115 | 1843676 |
| European Minerals | 1298277 | 1248277 |
| Largest decreases in short position | ||
| Goldcorp C Wt | 9500 | -7739817 |
| Equinox Minerals | 458712 | -6197795 |
| Golden Star Res | 9135651 | -4531243 |
| Silver Wheaton | 6233392 | -2416600 |
| Kinross Gold | 33078914 | -2214285 |
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