Trading Summary (June 09, 2004)

The Toronto Stock Exchange S & P Composite closed down 1.13% or 94.88 points to close at 8,317.12.

The TSE gold index closed down 3.65%, or 7.23 points, to close at 191.03. The diversified metals and mining index also closed down 6.04 points, or 2.74%, to finish the day at 214.16 points. In fact, all sub-indices closed down.

Gold also closed down, in the afternoon in London, by $5.50, to finish the day at US$386.85.

Eight mining or exploration companies traded over 2 million shares each.

Tahera led the way, trading 21.56 million shares. The stock fell by almost 5%, or 2, to close at 38. Yesterday, the company’s Jericho mine received development approval from the Minister of the Department of Indian Affairs and Northern Development. It will be Nunavut’s first diamond producer. The company also announced an exploration and development agreement it has worked out with De Beers, to explore for further kimberlite in the vicinity of the Jericho pipe.

Wheaton traded second in volume among the mining stock. The company traded 4.5 million shares to close down 7, or 1.8%, at $3.75. A majority of Wheaton shareholders bid to accept the Iamgold merger at their Annual Meeting held yesterday.

Guyana Goldfields traded 4.4 million shares and saw its share price rise by 22%, or 33, to close at $1.83. Yesterday, it announced impressive gold assays (such as 3.5 metres grading 41.83 grams gold per tonne) from its Aurora property, in Guyana, South America.

Metallica Resources closed up 1.74%, or 2, to close at $1.17 with a volume of 3.37 million shares traded. The shares are on the rise after plunging last week following an announcement that the company was denied an explosives operating permit for its Cerro San Pedro project in Mexico.