Trading Summary (June 10, 2003)

The Toronto Stock Exchange rebounded to the tune of 70.28 points to end at 7,042.70 on Tuesday. A US$9.90-per-oz. drop in the price of gold in New York torpedoed the gold index. The index ended 2.43 points lower at 162.92, while the yellow metal finished at US$351.80.

Wheaton River Minerals was the busiest mining stock dropping 3 to $1.53 on 3.3 million shares. Standard & Poor’s will add Wheaton to its S&P/TSX composite index at the end of business on June 20.

Major producer Placer Dome was next in line dropping a dime to $15.23 on 2.7 million shares. The remainder of trio also ended in the red. Barrick Gold fell 38 to $24.31; Kinross Gold finished 19 poorer at $9.08. Most of the remaining gold miners performed as miserably.

Sherritt International saw the most action among the base metal miners. The stock gained a nickel to make $4.56. On Monday, Sherritt said that a syndicate of underwriters, led by National Bank Financial, has exercised 2.5 million over-allotment restricted voting shares at $4 apiece.

Strike-stricken Inco was next busiest, rising 35 to $27.70. There have been no signs of talks resuming between the nickel miner and striking workers at its Sudbury operations. The main sticking points are pension increases and lowering health care costs.

Canada’s junior exchange lost ground with investors unloading speculative gold issues. The S&P-TSX Venture Exchange composite index dropped 5.77 points, or 0.52% and closed at 1,098.18.

Shear Minerals gave back a small portion of yesterdays surge, dropping 2, to close at 95 on a volume of over 1.1 million. Shares in the company gained 29 following the news that a second kimberlite has been discovered on the Churchill diamond project. Hole 2 tested anomaly CK156, a circular magnetic low anomaly measuring 150-by-150 metres some 6-km north of the first hole.

Northern Dynasty Minerals ended the day flat at 89 on 970,300 shares. The Hunter Dickinson led junior is currently drilling the Pebble gold-copper-molybdenum project in southwestern Alaska. The a recent resource study, completed by Australian-based Snowden Mining Industry Consultants, nearly tripled the tonnage in the higher-grade core of the deposit to 141 million tonnes grading 0.48% copper and 0.67 grams gold per tonne from the previous 1990’s estimate of 54 million tonnes grading 0.54% copper and 0.46 gram gold.

Alamos Gold added 9 to close at $1.12 on 364,754 shares traded. The junior is in the midst of a feasibility study over the Salamandra property in Mexico,