TSE SHORTS (September 20, 1999)

Short positions outstanding at August 31, 1999

Larger individual positions include:Abitibi-Consolidated 1,903,230; Alcan Aluminium 1,087,789, up 605,744; Anderson Exploration 67,772, down 213,084; Armada Gold 150,000; Barrick Gold 6,120,478, down 553,077; Beau Canada Exploration 731,323; Birim Goldfields 149,000, up 149,000; Boliden 4,253,300; Canadian Hunter Exploration 229,371, up 132,750; Canadian Natural Resources 287,731, up 93,476; Carmanah Resources 354,700, up 354,500; Cominco 3,685,843, up 289,689; Contiki Resources 214,000, up 82,400; Curlew Lake Resources 200,000, up 200,000; Dayton Mining 100,000, up 64,500; Dejour Mines 210,500; Euro-Nevada Mining 2,229,786; Falconbridge 124,352; Franco-Nevada 1,592,246, up 527,050; Greenstone Resources 135,750, down 222,250; Gulf Canada Resources 1,111,239, up 115,578; Inco 6,321,103, up 227,580; Kinross Gold 195,460, up 95,315; Manhattan Minerals 275,900; Noranda 1,278,768, down 429,948; Nuinsco Resources 106,000; Pan American Silver 132,900; Pioneer Natural Resources 222,100, down 202,300; Placer Dome 2,157,939; Probe Exploration 1,315,233, down 149,100; Profile Resources 100,000; Rio Algom 2,517,330, down 90,567; Royal Oak Mines 1,808,600; Sherritt Int’l 13,649,450, down 52,750; Sur American Gold 0, down 100,000; Texas T. Resources 168,700, up 81,700; Tiomin Resources 182,300; Vengold 538,000, down 572,720; William Resources 8,638,462, up 2,131,712.