Mine share trading up again on Toronto Stock Exchange

Trading in mining shares on The Toronto Stock Exchange has taken huge leaps this past September both in terms of dollar value and volume of shares traded.

Dollar value traded in mining shares increased to $939.6 million last month, a 64.8% increase over the $570.1 million traded in August. Volume of shares traded in mining shares was up 33.2% to 104.3 million shares com pared to 78.3 million shares traded in August.

Looking at the year to date, $4.366 billion was traded in mining shares in the first nine months compared to $2.686 billion traded in the comparable period of 1985. Share volume in mining shares amounted to 606.8 million in the first nine months of this year an increase of 61.3% from the 376.1 million in the first nine months of 1985.

An average daily value of $23.1 million in mining shares traded during the first nine months of this year and an average of 3.2 million shares changed hands daily on the Exchange in comparison with $14.2 million and 2 million shares traded in the same period a year ago.

Total dollar value and volume of shares traded on The Toronto Stock Exchange also enjoyed an increase in September. Dollar value traded rose to $5.1 billion, an increase of 17.4% over August and was 58.6% higher compared with September 1985. Share volume was up by 16% from the previous month to 400.1 million shares and was 54.9% higher than the comparable period last year.

For the first nine months cumulative figures for total TSE trading are well ahead of last year. Dollar value traded has increased by 55.8% to $49.7 billion compared with $31.9 billion traded in the same period a year ago. Total volume traded in this period is 60.8% higher, increased to 3.8 billion shares versus the 2.4 billion shares traded in the first nine months of 1985.

An average daily value of $262.8 million traded during the first nine months of 1986 and an average of 20 million shares changed hands daily on the Exchange in comparion with $168.7 million and 12.4 million shares traded in the same period a year ago.

The total number of issues listed on the TSE reached a record high of 1,499 issues on September 30 surpassing the previous record of 1,491 set on August 27 of this year. Sixteen new companies were listed for the first time in September including two mining issues: the common shares of highland-Crow Resources and the common shares and warrants of Power Explorations.

Looking at the most actively traded stocks in September, two were mining shares. Some 6.1 million shares of Placer Development traded hands las t month for an increase of $2.25 from the previous month and a close of $30.75. Falconbridge Ltd saw 5.3 million shares traded with a $1.13 gain from the preivous month to close at $18.75.