Trading Summary (March 23, 2004)

Toronto’s gold index stood out from the pack gaining 2.94 points, or 1.3%, to make 224.59 on Tuesday. The diversified miners did just the opposite falling 2.51 points to 217.79. In the end, more issues followed the diversified miner’s lead to push the S&P-TSX Composite Index down 3.96 points to 8,474.52.

Wheaton River Minerals ended as the most traded mining issue with just short of 7.8 million shares retreating 2 pennies to $4.15. Wheaton recently reported fourth-quarter profits of $27.8 million, or 6 per share, from $2.6 million, or 1 per share, a year earlier.

Tahera did the same to end at 36 with about 6.5 million shares traded. On Friday, Tahera said that the secured convertible debenture held by Dundee Precious Metals has been converted into more than 22.5 million shares and about 11.3 million warrants. Each warrant is good for one share at 49.5 until March 2, 2009. The transaction leaves Tahera debt free.

Northgate Exploration grabbed third spot volume-wise ending a nickel higher at $3.28 on the backs of just more than 4 million shares. Northgate recently adopted a shareholder rights plan designed to ensure the fair treatment of Northgate’s shareholders in the event of a take-over bid. The company also said it was not aware of any impending takeover bid or threat from a third party. If shareholders fail to confirm the plan at the upcoming annual and extraordinary general meeting it will terminate and cease to be effective.

Better percentage gainers included Canadian Gold Hunter (formerly International Curator Resources), up 15, or 19%, to 95, Gemcom, plus 7, or 16%, to 52, ,Denison Mines, 90, or 14%, higher at $7.35, Tiomin Resources, up 4.5, or 12%, to 42, and Timminco, which rose a dime, or 11.4%, to 98.

On Tuesday, Gemcom, a global provider of mine production management solutions, inked a deal with MineMAX to integrate MineMAX production scheduling software into the GEMS 5.3 system, which will be released at the end of April. On Monday, Timminco said it has completed the first stage of an acquisition of Norwegian-based cast aluminum wheel-maker, Fundamus by acquiring all of the shares of Nor-Wheels, which has a 24% stake in Fundamus.