Trading Summary (May 26, 2004)

The Toronto Stock Exchange S & P Composite closed down 0.42% or 35.24 points to close at 8,318.98. The TSE gold index closed down 0.21%, 0.42 points lower to close at 202.85. The diversified metals and mining index closed up 0.04 points, or 0.02% to close at 218.42 points.

Gold closed up $0.75 in the afternoon in London at US$389.65.

Thistle Mining led the way in trading volume, with 4.35 million shares trading, to close at 14, down 2, or 14.7%.

Wheaton River traded second in volume at 4.19 million shares, closing down 9 at $3.91.

Eldorado Goldtraded 3.7 million shares and closed up 3%, or 10, to close at $3.34.

South American Gold traded 4th among mining companies, trading 2.77 million shares and closing at 11, with no gain or loss. The company reported that its Pimenton gold mine in Chile is back in operation. Six stopes have been prepared for production and three thousand tons of ore have been stockpiled.

Another company that traded high volume (though not in the top 10), was TVI Pacific. Last week Australian, Lafayette Mining reported it has funding for final construction of the polymetallic Rapu Rapu project located in the province of Albay, Philippines. The mine may produce copper, gold, silver and zinc to the value of $US300 million over its initial 6-year mine-life and TVI retains a 2.5% net smelter royalty. Today, TVI reported robust project economics resulting from a feasibility study completed on its Canatuan gossan orebody on the island of Mindanao, Phillipines. The stock closed at 17, with no change, on a volume of 1.6 million shares.