Trading Summary (February 11, 2004)

The base metal miners stole the show on Wednesday with a 5.67-point, or 2.6%, rise to 227.54. The golds chipped with a 1.8% increase to 222.73 points. In the end, the S&P/TSX Composite Index was 16.22 points higher at 8,767.73.

Tahera‘s shares remained the most active issue on the day with more than 23 million winding their way 7.5 lower to 41. Wheaton River Minerals was next in line adding 13 to make $3.78 with about half as many shares on the go. Nickel giant Inco was the third most traded mining issue advancing $1.66 to $49.90.

Iamgold rose 7 to $9.69. Late on Tuesday, Iamgold said that its share of gold reserves at Tarkwa, Damang, Sadiola and Yatela mines increased by about 100,000 oz., compared with year earlier figures. Iamgold has an 18.9% interest in the Tarkwa and Damang gold mines in Ghana and a 38% and 40% interest in the Sadiola and Yatela mines, respectively in Mali.

Potash miner Asia Pacific Resources put in a nice percentage gain rising 2.5, or 12%, to 23.5 on about 2.5 million shares. Southwestern Resources jumped $2.71, or 7.5%, to 38.90 after announcing late on Tuesday that it has discovery a new porphyry copper belt north of the Tintaya copper-gold mine in southern Peru. The company has since acquired 500 sq. km of surrounding land. The porphyries discovered are situated in erosional windows within a belt of overlying volcanic rocks. Copper mineralization (oxide) occurs in heavily stockworked quartz-feldspar porphyry and breccia pipes. Visible copper oxide mineralization has been observed over a 500-by-800-metre area.

Yamana Gold grabbed a quarter, or more than 8%, to make $3.35. Yamana owns several producing gold properties and gold and copper-gold development and exploration properties in Brazil. The company also holds gold exploration properties in Argentina subject to earn-in by Peruvian gold producers Buenaventura and Hochshild.