Trading Summary (August 15, 2002)

The golds gained 8.31 points or 5% to make 174.45 points and led Toronto stocks to a slightly higher end on Thursday. The base metal issues put in a decent performance gaining 1.52 points or 1.3% to hit 116.95 points. At the end of a seesaw day, the S&P/TSX Composite Index was 7.5 points higher at 6,557.57 points.

Paced by a US$2.90-per-oz. gain in the price of gold to US$314.60 per oz. in New York, Kinross Gold advanced 8 to $2.91 with about 4.3 million shares on the move — enough to rank as Canada’s most traded gold miner. Placer Dome jumped 87 to $14.56 on just less than 2.5 million shares and Barrick Gold made $1 to reach $25 on 1.6 million shares.

Also making waves was Ivanhoe Mines, which grabbed 4 pennies to make $2.75 on a volume of 2.3 million shares. Ivanhoe’s Eunsan gold-silver mine in South Korea recently began commercial production. Since March, the mine has produced 2,300 oz. gold and 107,000 oz. silver from 9,800 tonnes of stockpiled material to generate US$1 million in sales revenue.

The yellow metal’s good fortune shined on most of the remaining gold issues. Glamis Gold grew by 94 or 7.5% to $13.53, GoldCorp advanced 74 or 5.3% to $14.64, Agnico-Eagle Mines rose $1.29 or 6.4% to $21.40, and Miramar Mining found 9 or 7.8% to hit $1.24.

The base metal issues weren’t quite as busy. Alcan added half a dollar to settle at $42.65 on just fewer than 1.2 million shares. Others on the rise were Inco, plus $1.20 to $26.90, and Aur Resources, which finished 18 or 5.7% higher at $3.35.

The TSX Venture Exchange composite index lost 2.78 points, or 0.27%, and closed the day at 1012.16 with 18.8 million shares traded.

IBI Corp. was the leading resource trader with 669,500 shares changing hands. The company’s issue closed the day at 7 up 1. IBI owns and operates a vermiculite mine located in the Mbale region of south-east Uganda, near the Kenyan border. IBI recently inked a deal for to sell $2.6 million worth of its medium grade Vermiculite. Weekly shipments are anticipated to commence this month.

Antoro Resources closed up 4 to 51 on 277,450 shares. The junior has raised $428,925 in recent private placements. The proceeds from these placements will be added to AntOro’s working capital and will be used for exploration on its Montalembert diamond property in Quebec. The company recently completed a Phase I diamond exploration program on Montalembert and results are expected in mid-September 2002.

Anooraq Resources lost a nickel and closed at 85 with 200,471 shares traded. The company holds the 2,900 ha Rietfontein farm on the prolific northern limb of the Bushveld Complex. African Minerals stands to earn a 50% interest in the property and is currently performing a drill program.