Trading Summary (March 17, 2003)

The Toronto Stock Exchange gained another 102.14 points to start the week. The golds edged up 0.14 of a point to 156.61 as the volatile yellow metal managed to pick up US50 to end at $336.50 per oz. in New York. The diversified miners rose 2.3 points to 127.9.

Diamond miner DiamondWorks stood out soaring 42 or 45% to $1.35 on fewer than 69,000 shares. The company recently inked a deal to acquire the remaining 19.9% of African logistics company Otterbea International in return for $4.5 million in cash plus about 6.2 million shares.

Kinross Gold was the busiest of the major gold producers with about 2.6 million shares trading 12 lower to $8.96. Placer Dome was next in line gaining 15 to make $13.90 on the backs of 2.1 million shares. Barrick Gold brought up the rear sliding 11 to $21.57 with just short of 2 million shares traded.

Wheaton River Minerals grabbed the last spot on the TSX’s top ten traded list falling 4 to $1.19. The company will release its fourth-quarter and year-end 2002 results after the close of business on Wednesday.

Inco was the nation’s most traded base metal miner gaining 85 to $30.41 on 1.3 million shares. Aluminum miner Alcan climbed $1.17 to $42.19 on a handful more than 1 million shares.

LionOre Mining International finished 7 poorer at $5.50. After announcing a strategic alliance with Inco last week, the company posted net earnings of US$2.7 million (or 2 per share) for all of 2002, compared with a year-ago loss of US$555,474 (nil per share).

Canada’s junior exchange finished the day down with advancers loosing to decliners 229 to 362. The S&P-TSX Venture Exchange composite index slipped 9.10 points, or 0.85%, and closed at 1,060.46 with 33 million shares traded.

Spider Resources continued to attract the eye of traders, ending the day up a penny to 9, with just over 1.5 million shares traded. The junior and joint venture partner KWG Resources have launched a 1,000 metre diamond drilling program on their Spider #3 base metal prospect in the James Bay Lowlands of Northern Ontario.

Doublestar Resources jumped 6 and closed at 53 with 1.29 million shares traded. The company plans to kick off an 1,100 metre drill program on the its Zopilote gold project in Honduras in two weeks. The program will build on the existing resource of 446,000 oz. gold contained in 10.5 million tonnes ore grading 1.32 grams gold per tonne.

American Bonanza Gold Mining closed at 26, down a penny on 617,582 shares. The junior is currently exploring the Copperstone gold project in Arizona from underground.

Inca Pacific lost 1 and closed at 12 with 590,500 shares traded. The company kicked off an exploration program on its Antoro Sur property, in the highlands of central Peru, 230 km southeast of Lima, early last month. A drill program is planned for the second quarter.