Trading Summary (December 24, 2002)

The grinch paid a visit to the TSX with Canada’s major bourse dropping 19.13-points to end Tuesday’s holiday shortened trading session at 6,609.12.Profit taking drove the Gold Index 3.98 points lower, or 2% of value to make 194.72. The Diversified Metals & Mining Index ended virtually flat at 130.31.

Kinross Gold remained the most active mining stock, dropping 3 to $3.52 on just more than 2.3 million shares. Barrick Gold lost 57 to end at $24.05 and Placer Dome ended 43 lower at $17.30 to round out the major producers.

Eldorado Gold lost 5 to close at $1.83. the junior recently raised $46 million via a financing of 28.75 million units at $1.60 apiece. The funds are headed to western Turkey to fund development of the junior’s Kisladag gold project.

Miramar Mining continued to gain ground, adding 2 to close at $1.98. The junior announced that it had closed at $3.45 million financing.

Canada’s junior exchange bucked the negative tone. The S&P-TSX Venture Exchange composite index gained 8.64 points or 0.85%, and closed at 1,028.33.

Shares in Coral Gold soared 18 to close at 51 on 1.18 million shares. The surge comes despite the company stating that it is unaware of any events or material changes that would account for a recent increase in the company’s stock price. Coral has a rig turning on the property that adjoins the Pipeline gold mine in Nevada.

Investors continued to bid up shares in Odyssey Resources. The junior currently has a rig turning over the Altintepe gold property on the Black Sea coast of Turkey. Some 54 holes have been previously drilled on the project, cutting both oxide and sulfide mineralization. The oxidation depths vary from 10-to-120 metres. The best drill results include 2.4 grams gold per tonne over 123.6 metres and 5.9 grams gold over 12 metres. Shares in the company climbed 3 to close at 40 on a volume of 385,000.

Navigator Exploration gave back most of yesterday’s gains, losing 2 to close at 19 on 298,700 shares. Earlier this month, the company and equal partner Canabrava Diamond reported that De Beers Canada purchased three Kat project claims for $350,000. The claims are situated proximal to De Beers’Victor kimberlite, located near Attawapiskat in the James Bay Lowlands of northern Ontario.