Trading Summary (March 31, 2003)

Toronto’s golds stocks added another 3.53 points to end Monday’s trading session at 161.09. In New York, gold regained US$4.40 to US$335.90 per oz. The diversified miners couldn’t keep pace slipping 0.01 of a point to settle at 123.93 points. Overall, the S&P/TSX Composite Index dropped 36.19 points to 6,343.29.

Northern Orion Explorations ended half a penny lower at 19.5 with about 4.9 million shares changing hands to rank as the TSX’s most active mining issue. Also slipping a half-penny was McWatters Mining finishing at 20. McWatters plans to sell 125 million shares for gross proceeds of $25 million. Under a previous deal that saw McWatters acquire the East Malartic mill, and surrounding properties, Barrick Gold will subscribe for 29 million shares. For its part, Barrick finished 45 higher at $23.16.

Placer Dome was the most traded major gold producer trading 4.7 million shares 48 higher to $14.61. Kinross Gold managed to grab 39 to reach $9.04.

Mid-tier producer Agnico-Eagle Mines made 56 to settle at $19.10. The company’s issue was halted late in the day pending news. After the markets closed on Monday, Agnico reported a rock fall in two production stopes at its LaRonde gold mine in Quebec. The fall, which involved about 30,000 tons of rock did not result in any injuries. Agnico figures production may suffer a 20% reduction. Eldorado Gold, a new addition to the TSX’s composite index, advanced 11 to $1.94.

Alcan saw the most action among the base metal miners shedding $1.04 to $41.15 on about 1.6 million shares. Nickel miner Inco was right behind falling a dime to $27.50 with a handful fewer shares moving. The few to post gains included: Ivanhoe Mines, up a nickel to $3.35; Tiberon Minerals, plus 12 to $2.44; Tenke Mining, a dime richer at $1.15; Western Silver also gained a dime to make $3.90; and Cameco rose $1.06 to $40.50.

Canada’s junior exchange managed to start the trading week off on an up tick with advancing stocks beating declining issues by a 311 to 299 margin. The S&P-TSX Venture Exchange composite index added 7.39 points, or 0.7%, and closed at 1,058.68.

Spider Resources was the day’s volume leader losing 1 to close at 13 with 1.4 million shares traded. The junior and joint venture partner, over the counter-listed, KWG Resources have launched a 1,000 metre diamond drilling program on their Spider #3 base metal prospect in the James Bay Lowlands of Northern Ontario.

Poplar Resources ended the day unchanged at 6 on 1.1 million shares. The company has diamond projects in Finland, Sweden, Quebec and Ontario. In addition, the company holds the Bottenbacken polymetallic project in Sweden.

IMA Explorations added 3 to close at 99 on 329,000 shares. Toronto listed Barrick Gold have agreed to extend the selection notice period in an option agreement over the Potrerillos or the Rio de las Taguas property to the end of 2003. By that time, Barrick can select if it will continue with an option to earn an interest in either of the projects. In return for the extension, Barrick will pay IMA US$65,000 which will be used to make the payments to maintain the option properties in good standing. The junior also inked a deal with Amera Resources, allowing the fellow junior to earn a 51% interest in the Mogote gold-copper exploration project in Argentina.