Trading Summary (January 19, 2004)

Canada’s junior exchange started the week making a modest gain as advancing stocks stalemated declining stocks 712-712. The S&P-TSX Venture Exchange composite index gained 7.99 points, or 0.45% and closed at 1,775.40 with 76.8 million shares traded.

Cantex Mine Development remained flat at 10 with 6.2 million shares traded. The junior holds an exclusive Exploration License covering 1063 square km in the northwest part of the Republic of Yemen. The company also has a second project is in Nevada, where Cantex has a 51% interest in 10 gold exploration targets secured with 187 claims. Its third project is a 6,043 sq. km license in western Greenland where its interest at the end of the reporting period was 10.16%.

Spider Resources closed the day up half a penny to 15.5 with 1.72 million shares traded. The junior holds a stake in the McFauld’s Lake property in the James Bay Lowlands of northeastern Ontario. Diagem International Resource bought KWG Resources’ 8% stake in property by agreeing to spend $2 million on exploration. Drilling on the project resumed last July to follow up on encouraging sulphide mineralization originally cut by De Beers in 2002. The diamond explorer inadvertently hit base metal mineralization while drill-testing 13 diamond targets at the Spider 3 project.

IBI closed at 7, up 1.5 with 1.49 million shares traded. The company has applied to become a tier-one trader on the Venture Exchange, while changing its trading symbol to IBI. The junior has 244 million shares outstanding and operates a vermiculite mine in Uganda.