TSE SHORT POSITIONS (December 16, 1996)

Short positions outstanding at November 29, 1996

Larger individual positions included: Abacan Resource 14,500, down 91,700; Barrick Gold 12,001,996, up 2,399,078; Agnico-Eagle 545,385; Archer Resources 299,237; Anvil Range Mining 538,320, down 112,200; Aur Resources 419,486, down 236,914; Bema Gold 4,097,037, down 99,938; Caledonia Mining 114,900; Campbell Resources 1,860,528, up 458,728; Cominco 393,962; Chase Resources 100,583; Dayton Mining 358,040; Echo Bay 120,300; Eldorado Gold 81,600, down 1,276,400; Euro-Nevada Mining 1,132,444, up 526,200; Falconbridge 454,800; Franco-Nevada 371,866; Franc-Or Resources 110,100, down 88,500; Geomaque Explorations 197,600, up 135,000; Glamis Gold 260,384, up 227,800; Gulf Canada 437,824, down 1,008,410; Greenstone Resources 2,376,619; Golden Star Resources 292,050; Inmet Mining 875,700; Indochina Goldfields 405,000, up 126,700; Jascan Resources 125,800, up 124,800; Kinross Gold 2,157,155, down 166,369; Consolidated Eurocan 180,700, up 75,300; Laminco Resources 0, down 503,186; Meridian Gold 241,865, down 595,700; Inco 5,372,577, up 126,900; Noranda 1,372,210; Novicourt 786,000; Nevsun Resources 100,700; Placer Dome 2,108,000, down 218,700; Princeton Mining 1,554,280; Prime Resources 203,600; Queenstake Resources 166,800; Santa Cruz Gold 26,600, down 69,950; TVI Pacific 157,400, up 149,804; TVX Gold 550,975, down 267,825; United Keno Hill 430,700; Upton Resources 161,700; Vengold 210,400; William Resources 1,569,376, up 565,070; Westmin Resources 6,248,116, up 1,005,355; World Wide Minerals 723,500; Yamana Resources 313,804.