The Toronto Stock Exchange ended the week with a 12.01-point gain to 7,046.88 on Friday. The mining sector wasn’t much help though with the golds off 0.8 of a point to 166.72 and the diversified miners slipping 0.01 of a point to 128.99.
Geomaque Explorations dropped half a cent to settle at a nickel on just short of 2.3 million shares to rank as the nation’s most traded mining stock. The company recently posted a first-quarter net loss of US$1.3 million, or a penny a share, virtually unchanged form the year-earlier period.
Wheaton River Minerals was next in line adding 2 pennies to make $1.52. The mid-tier producer recorded a record US$4.1 million in earnings for the first three months of the year, versus just US$262,000 a year ago. The increase reflects the turnaround in gold prices and improvements at its Minas Luismin mines in Mexico.
The country’s major bullion producers finished of the pace all with around a million shares traded. Barrick Gold dropped 16 to $24.91, Placer Dome found a penny to hit $15.55; and Kinross Gold dropped a dime to $9.30.
Strike-stricken Inco was the busiest base metal miner, dropping 34 to $27.80 with just more than 765,000 shares traded. Others on the slide were: Noranda, off 27 to $12.63; Alcan, 70 lower at $43.30; and Breakwater Resources, half a penny lighter at 17.
The S&P-TSX Venture Exchange composite index added 7.07 points to end at 1,100.4.
Spider Resources saw the most action, falling a penny to 10 with 638,600 shares on the go. The junior and joint venture partner, over the counter-listed, KWG Resources are working the Spider #3 base metal prospect in the James Bay Lowlands of Northern Ontario.
Northern Platinum put in the biggest percentage gain by the mining issues, shooting up 7.5, or 71%, to 18.
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