Trading Summary (July 04, 2001)

The Toronto Stock Exchange finished at 7,730.6 on Wednesday, off 17.72 points with little trading volume as the U.S. markets had the day off for Independence Day. Half of the TSE’s 14 subindexes finished in the red. The gold and precious minerals and metals and minerals subgroups were not among that number, rising 35.98 and 16.84 points, respectively.

Platinum was the lone precious metal to advance in London, gaining US$3 to US$559 per oz. Similarly, lead was the lone base metal to make gains on the London Metal Exchange. It edged up US$2.50 to US$430.50 per tonne.

Barrick Gold led a quiet bunch of gold miners with just more than 475,000 shares on the move. The stock climbed 30 to $22.90. Others on the rise were Kinross Gold, up 4 to $1.29, and Placer Dome, which gained 33 to $15.13.

Placer Dome has submitted a bid for control of the Pueblo Viejo gold property in the Dominican Republic. Pueblo Viejo is one of the largest gold deposits in the world and hosts an estimated 6 million tonnes grading 2.22 grams gold and 5.67 grams silver per tonne, plus 0.81% copper. The deposit is owned and operated by the Dominican government. Placer expects a decision on its bid by July 18.

Teck’s B series saw 406,049 shares change hands and gain 4 to $13.02. Affiliate Cominco gained 17 to $29.25 on less than 200,00 shares. Inco tacked on 20 to $25.85, Sherritt International rose 11 to $5.12, Noranda tacked on 9 to hit $16.15 and Alcan gained a quarter to reach $64.45.

Canada’s junior exchange got a boost late in the day as investors went bargain-hunting. The Canadian Venture Exchange composite index tacked on 4.05 points, or 0.1%, and closed the day at 3,202.37. The Mining Index gained 29.19 points, or 0.4%, and closed at 7,475.64.

Chilean Gold tacked on 3 to end the day at 63 on 340,000 shares. Earlier this year, the company completed road access and spotted drill sites for a reverse-circulation drill program on the La Carnanchaca and Los Colores copper properties in northern Chile.

Poplar Resources tacked on 1 to end the day at 16 on 371,500 shares. The company’s 65%-owned subsidiary is working the Bottenbacken polymetallic project in central Sweden. Poplar has signed a letter of intent to acquire 100% of the subsidiary.

A nice percentage gainer, Leader Mining International ended the day at 35, up 5 on 241,000 shares. The company recently launched a field program over the Cogburn property in southwest British Columbia. The property hosts a reported 100 million tonnes grading 0.22% nickel.

Shane Resources climbed 6 to 18 on 236,000 shares. The company, along with partner JNR Resources, recently inked a deal allowing Masuparia Gold to earn up to 70% of the Greywacke gold property in Saskatchewan. JNR ended the day flat at 7. Masuparia was also unchanged at 5.