Trading Summary (November 12, 2002)

The technology stocks powered the Toronto Stock Exchange 35.86 points higher to a 6,329.72-point close on Tuesday. The gold stocks managed to grab 2.59 points to make 182.49 points. The base metal miners rose 0.42 of a point to 121.8 points.

Placer Dome remained heavily traded amid takeover rumours. The issue fell 28 to $15.62 with nearly 8.7 million shares on the go. Kinross Gold made 13 to hit $3.08 and Barrick Gold climbed 37 to $25.10.

Denver-based Apollo Gold made a rare appearance on the top ten traded list, ending unchanged at $2.75 with just fewer than 2 million shares traded. McWatters Mining also finished unaltered at 18.5 with about 1.8 million shares crossing the floor.

Ivanhoe Mines also remained on investor’s radar screens with nearly 2 million shares trading to a 12 gain to reach $2.97. Recent drilling by Ivanhoe significantly expanded a zone of copper-rich mineralization at the Oyu Tolgoi gold-copper project in southern Mongolia.

Fording dropped 40 to $32 on about 1.4 million shares. Sherritt International, which is pursuing Fording, finished unchanged at $4.21.

Canada’s junior exchange managed to end the trading in the plus column. The S&P-TSX Venture Exchange composite index gained 5.73 points or 0.6%, and closed at 955.18.

Investors snapped up shares in Canadian Royalties following news of the latest drill results from the Mesamax northwest grid area on the Expo-Ungava property in northern Quebec. Hole 18 returned 49.3 metres grading 3.32% nickel, 4% copper, 0.13% cobalt, 1.5 grams platinum, 5.17 grams palladium and 0.26 gram gold from 5.2 metres downhole. A second mineralized zone was encountered 76.7 metres downhole, yielding 1.85% nickel, 2.23% copper, 0.06% cobalt, 0.58 gram platinum, 1.2 grams palladium and 0.04 gram gold over 2.3 metres. Shares in the junior soared 58 to close at $2.03 on a volume of nearly 1.7 million.

Alamos Minerals ended the day flat at 34 on 455,700 shares. The junior recently announced merger plans with National Gold. Under the deal, shareholders of Alamos will receive one share of Alamos Gold for every two shares of Alamos held and shareholders of National will receive one share of Alamos Gold for every 2.352 shares of National held. The companies are currently trying to move the Salamandra gold project in Mexico forward. Shares in National Gold also ended the day flat, at 30 on a volume of 234,100.