Trading Summary (January 10, 2003)

Toronto’s Diversified Metals & Mining Index powered the market 29.59 points higher to 6,801.77 on Friday. The base metal miners grabbed 2.56 points or nearly 2% to make 137.72. The golds chipped in with a 2.06-point gain to make 199.99, as the yellow metal yo-yoed its way US$1.20 higher to US$354.40 in New York.

South American Gold & Copper vaulted to second spot on the TSX’s most traded list, soaring 2.5 or more than 31% to 10.5 on a trading volume of nearly 22 million shares. SAG is working to resume production at its Pimenton gold-copper mine in central Chile. Pimenton is sandwiched between the Minera Los Pelambres and Minera de Los Condes Disputada copper porphyry deposits. Unlike those deposits, mineralization at Pimenton is characterized by high-grade, narrow quartz-sulphide veins.

Investors dumped TVI Pacific‘s shares sending the issue plummeting 5.5 or more than 32% to $11.5 with nearly 15 million shares on the go. On Friday, TVI said the Philippine government has assured it that will help to secure its Canatuan gold-silver project, which has recently seen two attacks by local rebels kill a total of 15 people. TVI says commissioning of a processing plant at Canatuan continues.

McWatters Mining remained active gaining 2.5 or 8.2% to make 33 on nearly 9 million shares. Most of the remaining gold miners put in gains, including the major producers: Kinross Gold, plus 18 to $3.80; Placer Dome, 16 higher at $18.20; and Barrick Gold, up 21 to $24.15.

Enjoying robust traffic in the lower ranks were: Iamgold, up 45 to $7.98; Wheaton River Minerals, 7 richer at $1.66; and Eldorado Gold, plus 6 to $1.96. Each saw around 3 million shares traded.

LionOre Mining International was the most traded base metal miner climbing 20 to $5.60 on the backs of 1.5 million shares. Inco was next in line finding $1.01 to end at $35. Tiberon Minerals continued 23 or 7.2% of value higher to $3.43.

Canada’s junior exchange ended the trading week in fine form as investors continued to nibble at gold issues. The S&P-TSX Venture Exchange composite index jumped 6.35 points, or 0.57%, and closed at 1,119.22.

Oasis Diamond Exploration continued to be the volume leader, adding 1 and finishing the day at 16 on nearly 3.3 million shares. Oasis Diamond and Arctic Star Diamond have outlined two priority targets on their Enigma property in Wawa Ontario. Drilling is expected to commence this winter.

Quaterra Resources moved 5 higher to close at 17 on 1.3 million shares. The junior has been trying to advance the Duke Island copper-nickel-platinul-palladium property in Alaska.

Chapleau Resources lost 6 to close at $1.04 on 940,500 shares. The junior recently picked up 330 sq km of real estate hosting a number of known gold prospects just west and northeast of Cranbrook, in Southeastern British Columbia.

Goldminco added 3 to close at 14 on 857,100 shares. The Ian Finch led junior is hoping to start drilling its Balabag gold-silver property in the Philippines shortly.