Trading Summary (May 15, 2002)

The golds posted a second straight day of losses on the Toronto Stock Exchange on Wednesday sliding 1.26 points to 194.42. The base metal miners put an end to two straight days of gains bby shedding 0.85 of a point to 145.30. Overall, the S&P/TSX Composite Index fell 9.93 points to 7,706.98 points.

Kinross remained the most traded gold miner tacking on 6 to hit $3.10 with more than 3.8 million shares on the go. Other golds seeing action were Aurado rocketed 5.5 or 25% higher to 27.5 on news of some oil deals in Kazakstan and Turkmenistan. Barrick Gold lost a quarter to $32.32, Placer Dome fell 11 to $18.99 and Eldorado Gold dropped 7 to $1 even.

On Monday, Eldorado received receipt from the BC Securities Commission for its prospectus relating to a private placement of 59.5 million special warrants at 42 each in February. Following the issue, the company will have more than 162.8 million shares outstanding.

Echo Bay Mines grabbed 14 or 13% to make $1.19. Earlier this week, the company priced its public offering of units, comprising one share plus a purchase warrant exercisable at US9 per share, at US70 apiece. The company plans to sell 34 million units. The underwriters have an over-allotment option to buy another 5.1 million units over a month. The deal is set to close by Friday.

Shares of Fort Knox Gold shot up 62 or 18.2% to $4.02, a new 52-week high, after the company said it discovered nickel in a previously undrilled area at the McCreedy West property in Sudbury, Ontario.

Alcan was the most active base metal stock gaining $1.40 to $61.95 with just short of 2 million shares on the move. Alcan said one of its subsidiaries, the top recycler of used beverage cans in the U.S. recycled more than 22 billion cans in 2001, down from about 23.8 billion cans in 2000. The decrease is attributed to the revamping of some of its plants.

Breakwater Resources was next in line tacking on 1.5 to reach 20 with about 1.5 million shares traded. Others on the rise were Inco, plus 30 to $33.50, Sherritt International, up 15 to $5, and Boliden, which rose a nickel to $6.05.

The S&P/TSX Venture Exchange lost 2.09 points to settle at 1,157.13 points. Radius Explorations was the busiest junior explorer rising a nickel to or 9% to 60 on 566,500 shares.