Starting the week on a high note, the Toronto Stock Exchange rose 46.56 points to 7,640.68. Nine of the broad market’s subgroups were up on the day, with the financial services sector recording the highest jump of 1.68%.
Resource stocks were mixed. The golds fell 20.72 points to 4,441.03 and the base metals rose 42.01 points to 4,468.84. With the exception of platinum, physical metals generally rose in value on the London Metal Exchange.
Barrick Gold was the most active among its peers, slipping 13 to $22.27 on a relatively light volume. Also down were Kinross Gold, off 3 at $1.26, and Franco-Nevada Mining, off 20 at $19.50. Coasting through the day, Placer Dome remained unchanged at $14.85.
Among the base metal miners, Breakwater Resources caught the most attention with over 1 million shares changing hands. The zinc miner slipped 4 to $1.03. Although slightly less active, Teck B-series rose 8 to $13.41.
Rex Diamond Mining climbed 7 to $2.92 on a volume of 567,476 shares, making it the most active among eastern juniors.
Canada’s junior exchange failed to find leadership and the market ended the day virtually unchanged. The Canadian Venture Exchange composite index fell 1.36 points and closed the day at 3,183.04. The Mining Index followed suit, losing 3.99 points, or 0.1%, and closed at 7,515.56.
A progress report on the Bottenbacken polymetallic project in central Sweden helped boost the shares of Poplar Resources. The company’s 65%-owned subsidiary, North Star Diamonds, completed a geophysical program over the property. A number of anomalies have been defined and surface samples have been collected. Poplar ended the day up 1 to 19 on 616,000 shares.
A nice percentage gainer, RJK Exploration gained 10 to 63 on 238,000 shares. The junior and its joint-venture partner, Toronto-listed Greater Lenora Resources, released the initial results from 10 grab samples from the newly discovered 10-metre-wide massive-sulphide zone on the Stares-Calvert property in Ontario.
International Wayside Gold Mines showed some signs of life, climbing 4 to 27 on 137,000 shares. The Frank Callaghan-led company recently announced that it has started the eighth hole of its 2001 drill program at the Cariboo gold project near Wells, B.C.
Quaterra Resources continued to trade near a 52-week high on news of encouraging platinum-palladium values from grab samples from the Union Bay project in Alaska. The Tom Patton-led company ended the day flat at 20 on 95,000 shares.
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