Trading Summary (October 18, 2002)

The Toronto Stock Exchange ended the holiday-shortened week with a 51.82-point gain to 6,326.61 points on Friday, with just three subindices in the red. The golds were among that number sliding 1.58 points to 160.92, as gold recovered US$1 to end at US$312.50 per oz. The base metal miners managed a 1.39-point climb to 118.93.

Wheaton River Minerals made a surprise appearance as the country’s most traded mining issues with just short of 3.4 million shares trading to a 1 gain to 97. Wheaton recently inked a deal under which Placer Dome will spend US$4 million exploring Wheaton’s El Oro project, 150 km northwest of Mexico City. Placer has until the end of 2005 to complete the expenditures, and stands to take a 75% interest. Placer can add another 10% by completing a bankable feasibility study. Wheaton can buy back the 10% after the study is tabled. Historical production from the property’s bonanza-style epithermal gold-silver vein system totals more than 8 million oz. of gold and 110 million oz. of silver. For their part, Placer shares dipped 28 to $12.85 with a handful fewer shares on the go.

Kinross shed 2 pennies to $2.58 on about 2.6 million shares while Barrick Gold was well off the pace sliding 19 to $22.51 with about 1.4 million shares changing hands.

Mid-tier producer Glamis Gold spilled 3 to end at $12.50. On Friday, Reuters reported that Glamis’ San Martin gold and silver mine in Honduras was the target of several hundred local protestors. The protestors claim the mine is destroying local forests, and threatening water supplies.

Pacific North West Capital returned Thursday’s gains, falling a nickel to 47. The company and partner Anglo American Platinum of South Africa have nearly doubled resources at their River Valley palladium project in northern Ont.

In the base metal realm, Inco led the pack gaining 39 to $30.03 on more than 1.3 million shares. Falconbridge shed 70 to $14.50 after posting a third-quarter loss. Other losers were Noranda, off 23 at $14.74 and Cameco, minus 12 to $30.34.