Trading Summary (September 11, 2003)

The telecommunications subindex was the only red spot on the Toronto Stock Exchange on Thursday, shedding 0.02 of a point to 60.57. Aside form the real estate sector, up 2.5%, modest gains were the order of the day. The golds grew by 1.38 point to reach 205.08 while the diversified miners ended 1.13 points higher at 156.90. Overall, the S&P/TSX composite index added 27.42 points to make 7,598.48.

Junior explorer Pure gold Minerals finally knocked Wheaton River Minerals out of the most active miner spot, trading about 8.1 million shares 3, or 43% of value, higher to a dime. Late on Wednesday, the company said it has begun a technical review of its 400-sq.-km North James River property in Nunavut. The property lies immediately west and north of Wolfden Resources‘ High Lake property, where recent drilling on the West Zone discovery cut up to 6.15% copper and 1.91% zinc, plus 142.3 grams silver and 3.49 grams gold per tonne.

Heading the other way was Eldorado Gold, which dropped 11 to $3.25 on about 6.5 million shares. Eldorado recently closed a $77.5-million private placement involving 25 million units at $3.10 apiece to raise enough funds to construct the Kisladag open-pit gold mine in Turkey

Market darling Wheaton finished lower for the second consecutive day, dropping 8 to settle at $2.63. The company has been amassing an impressive portfolio of Mexican properties as of late.

Zinc miner Breakwater Resources trailed on Ivanhoe Mines activity wise in the base metal camp. Breakwater watched its shares end unchanged at 29 as just more than 1.8 million shares change hands. Ivanhoe slipped 17 to $6.68 on a.86 million shares. LionOre Mines International ended on the plus side, gaining 28, or 4.2%, to $6.90. Earlier this summer, LionOre posted record second-quarter earnings of US$11.1 million (or 7 per share) on revenue US$71.2 million.

Canada’s junior exchange got a back on the winning track with advancing issues out pacing declining stocks by a 397-to-373 margin. The S&P-TSX Venture Exchange composite index gained 7.35 points, or 0.54%, and closed at 1,368.72.

Diagem International Resource got a boost on news that the second week of mining carried out under an “experimental mining” permit on the Fazenda Chicoria diamond gravel resource in Mato Grosso state, Brazil yielded 228 carats. The average grade of the diamondiferous gravels was 0.29 carats per cubic metre. Shares in the junior added 7 to close at 36 on over a volume of 2.7 million.

Lateegra Resources added 4.5 to close at 27.5 on just over 1 million shares traded. The company discovered gold-silver rich massive sulphide mineralization while prospecting on the Del Norte property in British Columbia. Dubbed the Horatio zone, mineralization consists of pyrite, sphalerite, galena, chalcopyrite and arsenopyrite hosted in argillites.

Donner Minerals gave back 3 to close at 21 on just over 811,000 shares traded. The company’s main asset is the South Voisey Bay nickel sulphide project in Labrador where joint venture partner, Toronto-listed Falconbridge, can earn a 50% interest in the entire project area by spending $23 million over 5 years. The junior also holds a 27% stake in fellow junior Knight Resources, which recently tabled positive results from the West Raglan property in northern Quebec.