Trading Summary (March 29, 2004)

Toronto stocks ended higher for a third straight session gaining 45.67 points to make 8,555.23 on Monday. The diversified miners were little help rising just 0.39 of a point to 220.17, while the golds slipped 1.38 points to 224.62.

Wheaton River Minerals dropped 9 to $4.12 with nearly 9.5 million shares traded to make it the nation’s busiest mining issue, TVI Pacific grabbed a penny to reach 26 in second place with around 3.1 million shares changing hands, and Bema Gold grabbed the bronze with a handful fewer shares falling another 20 to $4.55.

On Thursday, Bema posted a larger fourth-quarter loss of US$21.5 million owing to higher-than-expected costs at the Petrex mines in South Africa and an unrealized US$13.4 million derivative loss.

Shares in Agnico-Eagle Mines recovered late in the date to end 17 higher at $19.25. On Monday, the company reported the second fatality at its LaRonde mine in nearly two months. On Mar. 28, a worker was crushed to death while loading steel wire mesh into a storage area.

North American Palladium added 45 to hit $15.50 after it said it start building would an underground mine at the Lac des Iles operation, near Thunder Bay, Ont., in May. The project comes with a $65 million price tag.

On the diamond watch, Aber Diamond said on Monday that production from the Diavik diamond mine in the Northwest Territories would suffer owing to the presence of a shell of low-grade kimberlite mud surrounding the A-154 South kimberlite pipe, and persisting to approximately the 320-metre bench level in the open-pit. Aber says production during 2004 will come in around the “the mid to upper range of seven to eight million carats,” down from a previously estimated 8.2 million carats. Aber owns a 40% stake in the project and acts as operator; Rio Tinto holds the remaining interest. Shares in Aber ended $1.90, or 4.4% , lower at $41.25.

Big percentage movers were Gulf International Minerals, plus 6.5, or 18.3%, to 42, and Corona Gold, which slipped 12, or plus-19%, to 50. There was no immediate news out of either company.