Trading Summary (August 13, 2003)

Toronto’s gold index managed to pick up just 0.23 of appoint to make 189.06 on Wednesday despite a US$3.30-per-oz. increase by gold to US$361.90 per oz. in New York. The base metal miners weren’t that fortunate, shedding 0.67 of a point to 142.10. Overall, the S&P/TSX Composite Index ended 18.26 points higher at 7,372.28.

Wheaton River Minerals reigned as the most traded mining issue with about 4.4 million shares making their way a penny lower to $2.03. The company is due to release its second quarter financial results after business hours on August 27.

Making a rare appearance on the TSE’s top ten traded list was Northgate Exploration 7 higher at $1.83 on the strength of 3.7 million shares. There was no immediate news out of the company.

Bema Gold was next, adding 4 to make $2.86 with just short of 3.5 million shares traded. Late on Wednesday, the company reported more high-grade drill results from the Kupol gold-silver property in Chukotka, Far East Russia. Highlights include: 24.5 metres averaging 41.7 grams gold and 499.2 grams silver per tonne in hole 49 and 13.4 metres of 45.9 grams gold and 281.9 grams silver in hole 56.

Shares in Canico Resources shot up $2.41, or nearly 30% of value, to $10.50 with nearly 1.6 million shares on the go. On Wednesday, Canico significantly boosted inferred resources at its Onca and Puma nickel laterite deposits in Brazil’s Para state.

Canada’s major gold producers put in mixed results. Barrick Gold was the busiest with more than 2 million shares finding their way 3 higher to $25.43, Kinross Gold gained 13 to reach $9.30, and Placer Dome lost 7 to hit $18.08.

Ivanhoe Mines left the other base metal miners in the dust, finishing 19 cheaper at $4.65 on 2.4 million shares. The Robert Friedland-led junior has inked a deal to add to its already sizeable land holdings in inner Mongolia by acquiring up to an 80% stake in three new gold and gold-copper projects.