Trading Summary (January 17, 2003)

The Toronto Stock Exchange saw slight but widespread declines on Friday, with every market sector except the energy stocks falling and the TSX Composite index off 71.1 points, or 1% of value, to 6,755.92.

Both the golds and the base metals outpaced the market on the way down; the gold index fell 3.91 points to 192.55, a loss of 2%, while the metals and mining index slumped 3.07 points to 137.42.

It was hard to find a gainer on the gold index, but the most active issue, Kinross Gold was one of them. Kinross added 2 and closed at $3.62 on a volume of 7.6 million shares. Trading was much more subdued in Iamgold, but it was the other index component to show a gain, picking up 2 to close at $7.71.

The worst performer on the gold index was Crystallex International, which backed off 18 to $2.12, but it had plenty of company, including Placer Dome, which fell 51 to $17.06, Goldcorp, which lost 54 to close at $19.33, and Meridian Gold, which ended the day 72 lower at $24.23.

On the base metal side, Teck Cominco B shares fell 73 to $12.26, Inco slid 59 to $34.31, and Cameco gave up a buck to close at $38.70.

Noranda and Falconbridge said they would be seeking a court injunction to prevent Canadian authorities from giving documents they had seized in 1999 to Federal investigators in the United States. The U.S. Department of Justice is currently investigating allegations of price-rigging and collusion in the sulphuric-acid market.Canada’s junior exchange ended the trading week in lack lustre fashion as investors found little reason to buy stocks. The S&P-TSX Venture Exchange composite index slumped 2.64 points, or 0.23%, and closed at 1,124.66.

Goldminco added 2 to close at 15 on 694,575 shares. The Ian Finch led junior is hoping to start drilling its Balabag gold-silver property in the Philippines shortly.

Quaterra Resources moved 1 higher to close at 16 on 469,500 shares. The junior has been trying to advance the Duke Island copper-nickel-platinum-palladium property in Alaska.

A big percentage loser, Eaglecrest Explorations lost 8 to close at 14 on 440,833 shares. The company has been evaluating the San Simon gold property in Bolivia. An underground program is currently underway.