Trading Summary (November 17, 2003)

Toronto’s gold index slipped just 0.03 of a point to 218.17 despite a US$6.50-per-oz. slide by gold to US$390.80 per oz. in New York. The diversified mining sector picked up the slack, and was matched on by the real estate group, posting a p1.4% gain to make 191.69. In the end, the S&P/TSX composite index was 13.66 points higher at 7,766.05.

TVI Pacific remained atop the leader board with more than 26 million shares finding their way 3, or 19%, higher to 19. On Monday, the company said that the central government of the People’s Republic of China had granted its a Wholly Foreign-Owned Enterprise certificate – the first ever for a foreign mining company. TVI says the approval fully approves its option to purchase the Shuikoushan gold project and allows it to explore and expand into the district and elsewhere in China.

Some 15.4 million shares in Wheaton River Minerals ventured 8 higher to $3.33 after the company posted third-quarter net earnings of US$14.7 million (3 per share), compared with year-ago net earnings of US$900,000 (1 per share).

Asia Pacific Resources took the bronze, retreating 4.5, or 18%, to 20 after Friday’s run-up. On Thursday, the company inked a memorandum of understanding with China state-owned Enterprise Investment Co. to jointly develop Asia Pacific’s Udon Thani potash deposit in Thailand. The proposed deal includes long-term off-take commitments and the arranging of around US$300 million in financing, enough for the first stage of the proposed 2-million-tonne-per-year Udon South mine.

Constellation Copper put in a 2.5, or 26%, gain to hit a new 52-week high of 12 after drilling by 43.5%-owned Matrix Metals returned up to 22.7 metres grading 3.62% copper from the Greenmount copper deposit in the Mt Isa District of northwest Queensland, Australia.

Ivanhoe Mines jumped $1.11, or more than 10%, to $11.96. The company’s shares could begin trading on the Nasdaq exchange as soon as Tuesday. The shares will tarde under the symbol HUGO, paying tribute to the late Hugo Dummett, Ivanhoe’s former executive vice-president of project development.

Canada’s junior exchange started the trading week off on a down note as gold came off its end of the week high. The S&P-TSX Venture Exchange composite index lost 4.0 points, or 0.25% and closed at 1,616.32 on a volume of 89 million shares.

Maude Lake Exploration and partner Candor Ventures are exploring the Comtois property in Quebec. Maude Lake finished the day at 15.5 with 2.1 million shares traded while Candor closed flat at 46 with 3000 shares traded. Candor stands to earn a 50% interest in the Comtois property by completing $3.5 million in exploration expenditures over a 4 year period, including a minimum of $500,000 by December 31, 2003. The property hosts an inferred resource of 808,000 tonnes averaging 20.2 grams gold per tonne based on 99 drill holes.

Bard Ventures and partner, Toronto-listed Pure Gold Minerals are exploring the North James River VMS property in Nunavut. Bard finished the day at 23 up 6 with 1.9 million shares traded.

ECU Silver Mines closed at 19, up 2 with 1.7 million shares traded. At last report, the original vendors have challenged ECU’s ownership (through a subsidiary) of the mining properties in the Velardena area of Mexico.