Trading Summary (April 26, 2002)

The Toronto Stock Exchange‘s gold stocks rose 261.49 points or 4.1% on the strength of a US$3.70-per-oz. gain by gold in New York. The yellow metal closed at US$311.40 per oz. The base metal miners were less fortunate, but was one of just four subindices to climb gaining 7.65 points.

Not a big shocker, the gold miners dominated the TSE’s most traded list. TVX Gold headed up the list gaining 12 or 10% to $1.31 on 10.4 million shares. Kinross Gold added 20 to make $2.83 with 6 million shares on the go, Placer Dome grabbed 52 to hit $20, Barrick Gold found $1.30 to finish at $31.85, McWatters Mining tacked on 1.5 to reach 13, and Viceroy Resources was 2.5 higher at 21.5.

Echo Bay Mines climbed 8 to $1.34. On Friday, the company reported first-quarter net earnings of US$5.5 million (1 per share), compared with year-ago net earnings of $3.8 million (nil per share).

Sherritt International was the most traded base metal issue with nearly 2.1 million shares changing hands. The stock advanced 33 or 7% to $5.03. The company will report earnings next Tuesday.

Making a similar percentage gain, Breakwater Resources added a penny and a half closing at 23. During the first three months of 2002, the company produced 60,470 tonnes zinc in concentrate, up 15% from the 52,647 tonnes produced a year earlier. That puts the Toronto-based company on pace to eclipse its original 2002 production forecast of just less than 220,000 tonnes. Just more than 1.55 million shares crossed the floor.

Canada’s junior exchange managed to end the trading week by posting solid gains on high volume. The Standard & Poor’s-CDNX Composite Index gained 7.25 points, or 0.6% and closed at 1,167.14.

RJK Explorations ended the week down 2 to 23 on 885,500 shares. The junior recently completed a geophysical program over the Stares-Calvert massive sulphide property located 50 km west of Thunder Bay, Ontario. Additional geophysics is planned to further refine drill targets.

Making a nice percentage move, Nevada Pacific Gold added 8 to close at 54 on 667,000 shares. At last report, the company had completed final drill hole selection and permitting was underway at the South Carlin gold project located on the Carlin Trend in Elko County, Nevada.

National Gold added 4 to close at 37 on 358,834 shares. The Albert Matter led junior holds the Salamandra gold property in Mexico where Alamos Minerals is currently drilling as part of an agreement to earn a 50% stake in the project. Alamos ended the session up 6 to 46 on just over 100,000 shares.

Rockwell Ventures continued to attract attention ahead of drill results Haut Plateau nickel-copper-cobalt project in Quebec. Shares in the Hunter Dickinson led company ended the day flat at 16 on a volume of 122,000. Assay results are expected any day now.