Trading Summary (June 17, 2003)

The Toronto Stock Exchange’s gold index jumped 6.06 points, or 3.6%, to 174.33 thanks to a US$3.80-per-oz. gain by gold in New York on Tuesday; the yellow metal ended the day at US$362.80. The diversified miners, along with the remaining subindices, lagged behind, gaining 1.03 points to reach 133.02. Overall, the S&P/TSX Composite index rose 21.75 to 7,121.02.

Junior explorer Tahera was one of the most traded mining stocks on the day, adding half a cent to reach 14 on about 2.7 million shares. On Tuesday, Tahera reported an improved diamond-size distribution profile from the Anuri kimberlite in the Coronation Gulf district. A 1,173-kg sample from Anuri surrendered a total of 18 diamonds larger than a 1-mm sieve size.

Also making news was Rio Narcea Gold, which gained 15, or 6%, to $2.64 with more than 1.7 million shares traded. The company just received an environmental go-ahead for its Aguablanca nickel-copper-platinum-group-metal project in southwestern Spain.

Shares in Miramar Mining soared 18, or about 12%, to $1.70, after the company announced a doubling of the depth extent of the Suluk zone on its Hope Bay gold property in Nunavut.

Canada’s trio of major gold producers all ended higher. Placer Dome made 57 to reach 16.85 and Kinross Gold added 43 to make $9.81; both saw around 2.7 million shares traded. Barrick Gold brought up the rear, gaining 72 to $25.35 on just short of 2 million shares.

In the junior gold ranks, Crystallex International added another 11 to hit $2.45 amid takeover rumors.

Ivanhoe Mines was the most active on the base metal side, dropping a penny to $3.44 on just fewer than 1.1 million shares. Inco ended 31 higher at $28.24 on 821,907 shares. The company was recently granted an injunction ensuring access to its strike-bound Sudbury operations. No talks have been scheduled to put an end to the strike, which is in its third week.