Trading Summary (December 18, 2001)

The Gold & Precious Minerals subindex gained 162.5 points or 3.2% to hit 5,189.39, and led the Toronto Stock Exchange 71.09 points higher to 7,586.5 on Tuesday. The Metals & Minerals subindex tagged along gaining 115.46 points or 2.8% to end at 4,206.48. By day’s end just two of the exchange’s subgroup were in the red.

Barrick Gold was the country’s most traded mining issue climbing 72 to $26.22 on just less than 3 million shares. Placer Dome and Kinross Gold were well down the line gaining $1.08 and 9 to end at $18.20 and $1.18, respectively. Each issue saw about 1.5 million shares change hands. Among the other golds, Franco-Nevada Mining added 28 to hit $23.26.

In the lower ranks, Gabriel Resources fell 4 to $3.11. On Tuesday, Gabriel announced that it has raised $34.5 million to advance its 80%-owned Rosia Montana gold project in Romanian.

Teck Cominco outpaced the other base metal issues tacking on a dime to hit $12.50 on just less than 1.1 million shares. Most of the others saw similar gains. Inco rose $1.07 to $26.58; Falconbridge climbed 56 to $16.11; Alcan grabbed $1.98 to reach $59.25; and Aur Resources added 6 to settle at $3.06. Heading the other way were: Sherritt International, off a penny to $3.93; and Noranda, which dropped a nickel to $14.45.

In diamond news, Mountain Province Diamonds shed 2 or 3% to 65. On Tuesday, De Beers Canada Exploration reported that its latest modelled revenue-per-carat estimates for the 5034 and Hearne diamond pipes on the AK claims in the Northwest Territories have come in lower than those reported for the 1999 bulk sample. De Beers Canada, a unit of Anglo American holds a 51% interest in the property. The minority interests in AK are held by Mountain Province Diamonds, with 44.1%, and CDNX-listed Camphor Ventures, with 4.9%.

Falling victim to tax-loss selling, Canada’s junior exchange continued to lose ground on extremely heavy volume. The S&P-CDNX Composite Index ended the session down 4.17 points, or 0.4% to close at 975.00.

Rockwell Ventures roared back onto investor’s radar screens gaining 1 to close at 16 on 895,500 shares. The Hunter Dickinson-led junior announced a $1-million financing comprising 6.25 million units priced at 16 each. The funds will be used for an aggressive drill program over the newly acquired Haut Plateau nickel sulphide property in east-central Quebec.

Another Hunter Dickinson-led company faired much worse. Shares in Amarc Resources fell 4 to 40 on a volume of 250,000. The junior is gearing up to launch a drill program over the Inde gold property in Mexico.

Philex Mining stock dropped to 50 before recovering to close up 1 at 57 on 172,500 shares. The junior sold an additional 10% stake in its promising Boyongan copper-gold discovery in the Philippines to its joint venture partner, Anglo American. The major now holds a 50% interest in the project.

War Eagle Mining ended the day down 1 at 11 on 456,880 shares. The company has been exploring the MAC tantalum property in the Northwest Territories. The first phase of exploration identified two broad areas within the dyke complex that contain enhanced tantalum and tin grades along with a central lithium-rich area.

Eurozinc Mining bounced off a 52-week low gaining 1 to 10 on 161,375 shares. The junior has been attempting to advance the Aljustrel base metal project in Portugal.