Trading Summary (October 31, 2003)

Toronto’s diversified miners continued 4.1 points, 2.2%, higher to end Friday’s trading session at a new 52-week high of 193.21 points. The gold miners recovered to the tune of 3.06 points to hit 208.1. In the end, the S&P/TSX composite index was 33.29 higher at 7,772.7.

Diamond explorer Tahera displaced Nortel Networks to rank as the TSX’s most traded issue with more than 18.7 million shares finding their way 2 higher to 19. On Friday, Tahera said it has arranged a bought deal with a syndicate led by Griffiths McBurney & Partners involving some 50 million units. Each unit, priced at 16 a piece, comprises one share plus half a purchase warrant. One warrant is good for one share at 22 per share for three years. Proceeds will go toward exploration and development at the company’s Jericho diamond project and other diamond properties, and for general corporate purposes. The financing is slated to close by Nov. 18. the company also recently discovered another diamondiferous kimberlite body at the Jericho property in Nunavut.

Wheaton River Minerals was the next closest rising 13 to $3.06 on half as many shares. Queenstake Resources placed third among the mining crowd, climbing 4 to 66 with just short of 6 million shares traded.

Percentage performers on the day included Jaguar Nickel, up 22, or 17%, to a new 52-week high of $1.56 as nickel rose to heights not seen in years. Bolivar Gold grabbed 34, or nearly 20%, to hit a new high of $2.10. On Friday, Bolivar said it filed an updated technical report for its Choco project in Venezuela.

Southwestern Resources jumped another $4.35, or 14%, to an all-time high of $35.50 after reporting another batch of results from drilling on the Cerro Crespo silver-gold zone located on the Liam gold-silver property in Southern Peru.

Sherritt International was the busiest on the diversified miners index, gaining 17 to reach a new year high of $5.29. The company wants to convert half of its 6% convertible debentures to 7% notes and extend their maturity date by seven years. The exchange, which includes a reduction in the conversion price, frees up cash for long-term growth plans; however, it will be withdrawn if less than $150 million worth of debentures are tendered.

Canada’s junior exchange ended the trading week firmly at a new all-time high as investors’ appetite for speculative issues continued. The S&P-TSX Venture Exchange composite index added 31.14 points, or 2.03%, and closed at 1,565.

Inca Pacific Resources moved higher, adding 5 to close at 26 on 3.4 million shares traded. The junior has cut encouraging values from the Antoro Sur copper-gold project in central Peru. A total of 1866.4 metres were drilled in 25 holes with assays in for 18 holes.

Consolidated JABA ended the day at 22, up 3 on 3 million shares traded. The junior recently ink a deal with First Majestic Resource allowing its fellow junior to earn up to an 80% interest in the Platino porphyry project in the Chubut province of Argentina.

Disappointing drill results from the South Voisey Bay project sent shares in Donner Minerals. A total of three holes, totalling 1,275 metres, were drilled in the North Gabbro to test high conductance EM targets. The best result was a 7.9 metre intersection grading 0.14% nickel, 0.12% copper, 0.08% cobalt and 14.13% sulphur. Donner dropped 6 on the day to close at 15