Trading Summary (August 19, 2004)

Toronto stocks rebounded to the tune of 70.95 points, ending Thursday’s trading session at 8,293.94. The recovery was powered mostly by the golds, which jumped 8.22 points, or 4.3%, to 198.94 points, as the yellow metal rose US$2.60 to US$406.60 per oz. in New York. The diversified miners chipped in with a 1.6% rise to 222.49 points.

Kinross Gold ended as the nation’s most traded miner, with more than 7.6 million shares finding their way 34, or 5%, higher to $7.56; Wheaton River Minerals was next in line gaining 19 to $3.63 on more than 5.8 million shares; Placer Dome rounded out the top three finishing 91 higher at $22.50 on 3.6 million shares. Shares in International Uranium jumped 31, nearly 10%, to a new 52-week high of $3.50. On Thursday, IUC and partner Vancouver-listed JNR Resources reported the best ever hole from the Moore Lake uranium project in northern Saskatchewan’s Athabasca basin.

Relieved of takeover pressures, Golden Star Resources surged another 61, or 11%, to $6.21. The company recently threw in the towel in its bid to acquire Iamgold, which announced plans for a US$2.1-billion merger with South Africa’s Gold Fields. For its part, Iamgold added 61 to make $9.43.

An even better percentage increase was put in by GLR Resources, which surged 9, or about 26%, to 44 on just 7,500 shares; Twin Mining climbed 4, or 24%, to 21. Others with plus-10% gains were Alamos Gold, up 26 at $2.40, QGX, plus 27 to $2.60, Defiance Mining, a nickel better at 50, Corona Gold 3.5 higher at 36.5, Caledonia Mining, up 2 pennies to 21, and Atna Resources, which tacked on 4 to make 42.

Atna recently inked a definitive agreement with Barrick Gold to option the Pinson gold property at the north end of the Battle Mountain-Eureka/Cortez trend. Atna plans to explore the potential for underground development on several zones of high-grade gold mineralization below the Pinson open pits, where production ceased in 2000. Barrick grabbed 96 to settle at $26.02.On the minus side were Zaruma Resources, off 2.5, or 16.7%, at 12.5, and Tenke Mining, which shed 19 to hit $2.11.