Trading Summary (January 03, 2003)

Toronto’s gold stocks enjoyed a rising gold price on Friday climbing 4.45 points or more than 2% of value to 205.23. The yellow metal shot up US$5.10 to US$350.90 in New York. The base metal miners grabbed 1.01 points to hit 134.62. In the end, the S&P/TSX Composite Index close the week out 32.61 points higher at 6,772.66.

McWatters Mining climbed 2 to 28 on 7.7 million shares to rank as the nation’s busiest miner. The company recently outlined 1.2 million tonnes of new mineralized material at its dormant Kienna mine, near Val d’Or, Que. The resource, which averages 4.25 grams per tonne, is divided among two newly discovered zones.

Kinross Gold was next in line adding 14 to make $3.95 with about 2 million fewer shares changing hands.

Placer Dome saw just fewer than 2 million shares cross the floor to a 39 gain to $18.40, as the company announced that it had finally wrapped up its acquisition of Aussie gold miner AurioGold. Placer launched its hostile bid for AurionGold in late May.

Barrick Gold rounded out the major producers with a 22 gain to $24.82.

Nice gainers in the junior ranks were: Aurizon Mines, plus 15 or more than 10% to $1.60; Geomaque Explorations, up 2 or 16% to 14.5; Golden Star Resources, up 33 to $3.27; St Andrew Goldfields, 4 higher at $32; and Orezone Resources, which added 8 or 20.5% to make 47.

LionOre Mining International gained 6 to make $5 with just short of 700,000 shares traded. LionOre has been admitted to the official list of the UK Listing Authority and will begin trading on the London Stock Exchange under the symbol LOR on Jan. 6. Most of the remaining base metal miners put in modest gains on thinner volumes.

Gold explorers continued to propel Canada’s junior exchange higher. The S&P-TSX Venture Exchange composite index added 19.32 points, or 1.8% and closed at 1,102.68.

ECU Silver Mining topped the most activley traded charts gaining 4, to close at 13 with 2.4 million shares traded. The company holds the Valardena property in Mexico. The project has a total resource of 2.5 million tonnes grading 2.8 grams gold and 269 grams silver.

Coral Gold continued to attract investors with 1 million shares traded. The junior added 5 and closed the day at 67. Coral has a rig turning on the property that adjoins the Pipeline gold mine in Nevada.

The rapid rise in volume and share price on no news prompted the TSX to suspend trading in Hunter-Dickinson-led Amarc Resources, After yesterday’s 11 surge on nearly 1 million shares, the company fell 1 to close at 34 on 450,000 shares before trading was suspended. The company subsequently reported no reason for the increased activity except for a speculative buy rating placed on the stock by news letter writer Clif Drake. Shares resumed trading, falling 5 to end at 30 on a volume of nearly 1 million. Amarc holds ground in the Inde mining district of Mexico.

Investors continued to snap up shares in Radius Exploration following news of drill results from the Holly gold property in eastern Guatemala. Hole 4 cut 6 metres grading 43.56 grams gold and 1,617 grams silver. Shares in the company added 6 to close at 76 on a volume of 450,800.