Trading Summary (June 18, 2004)

The Toronto Stock Exchange’s mining stocks ended higher amid a mostly lower market on Friday; the golds rose 2.16 points to 201.32, while the diversified miners added 4.95 points to make 232.23. In New York, gold shot up US$6.20 per oz. to US$394.980 per oz., as the U.S. deficit came in higher than expected. Overall, the S&P-TSX composite index shed 10.97 points to make 8,486.59.

Guinor Gold ended as the nation’s most traded miner with just shy of 5 million shares rising 12 to $1.13. The company recently filed a final long-form prospectus in Canada for the distribution of just shy of 35 million shares in relation to 33 million special warrants and about 2 million brokers’ warrants issued in March. The distribution was expected by about June 17.

Crystallex International was next in line with about 3.5 million shares trading 35 higher to $3.43. At the end of trading on Friday, Crystallex joined Standard & Poor’s composite, smallcap, capped materials and capped gold indices. Wheaton River Minerals rounded out the top mining trio by grabbing 9 to reach $3.89 with 2.8 million shares traded.

Canada’s major gold producers ended with mixed results; Barrick Gold stood out losing 15 to $26.75 on more than 2.2 million shares. Noranda remained the most heavily traded base metal major; the issue fell 27 to $23.68 on more than 1.8 million shares. The company said earlier this week that it was reviewing several offers of interest for the company.

Cancor Mines stood out in its own right, shooting 14, or 50%, higher to 42. Cancor and partner Cambior recently cut some encouraging gold and silver values hosted by massive sulphide lenses on the Gemini-Turgeon project in Que. Highlights include a 6-metre interval running 3.9 grams gold and 4.1 grams silver per tonne. For their part, shares in Cambior finished a dime to the good at $3.54.