Trading Summary (June 27, 2003)

The Toronto Stock Exchange’s diversified metals & mining index pulled out of its recent mini-funk, adding 1.71 points, or 1.3% of value, to hit 130.25 on Friday. The golds lagged behind tacking on just 0.47 of a point to make 165.06, as gold grabbed US$1.30 to reach US$344.90 per oz. in New York. The S&P/TSX Composite Index ended the week 12.28 points lower at 6,979.12.

Ashton Mining rocketed $1.44 to $2.56 on about 4.4 million shares to lead the mining class. The company announced the recovery of an estimated 4-carat diamond from the Renard 65 kimberlitic body on the Foxtrot property in north-central Quebec.

Major gold producer Placer Dome finished a distant second, climbing 26 to $16.16 with just short of 1.8 million shares on the go. Its counterparts ended lower, Barrick Gold fell 14 to $23.70 and Kinross Gold dropped 2 pennies to $8.83.

Down the ranks, McWatters Mining ended unchanged at 14. On Friday, the company closed a $14 million private placement by issuing $7 million worth of “flow-through” shares plus $7 million of units. Proceeds will be used to remove an additional 500,000 tonnes of waste from the Sigma-Lamaque operation, and for exploration of the nearby East Amphi property.

River Gold Mines completed a $2 million private placement of its own. The company placed 571,429 shares to brings its total outstanding issue to 41.3 million. River also ended unchanged at $2.50.

Inco was the most traded base metal miner, with just more than 724,000 shares traded. The issue ended 14 higher at $28.44. Aur Resources put in a good percentage gain, rising 24, or 7.5%, to 3.44.

Junior Tiomin Resources jumped 4, or 13.3%, to 34, after announcing that Kenya’s minister of natural resources has officially approved a special mining lease for its Kwale titanium-sands project.

Canada’s junior exchange ended the trading week in the black led by some strong buying in diamond related issues. The S&P-TSX Venture Exchange composite index gained 1.02 points, or 0.09% and closed at 1,107.62.

Toronto-listed Ashton Mining of Canada’s discovery of a large stone from the Renard 65 kimberlite body on the Foxtrot property in Otish Mountain area of Quebec propelled shares in other regional diamond explorers higher. Majescor added 12 to close at 41 on nearly 1.8 million shares traded. The junior holds a large land portion in the Otish Mountain region of Quebec. Montello Resources doubled in value to 6.5 on nearly 1.7 million shares traded. The company holds a 50-50 joint venture with Oasis Diamond Exploration on a 460 square km property in the Otish Mountains, less than 25 km east of the Ashton/Soquem discovery. Oasis ended the week at 6, up 1 on 170,033 shares.

Golden Goose Resources ended the day up half a penny at 17.5 on 1.5 million shares crossing the floor. The junior holds the Magino mine property near Wawa Ontario. The property hosts a total measured resource, when applying a 0.05 oz gold per ton cut-off, comes in at 5.8 million tons grading 0.09 oz gold per ton.