Trading Summary – TSX (January 21, 2004)

Toronto’s technology stocks dropped 2.28% to lead the S&P/TSX Composite Index 1.74 points lower to 8,621.88 on Wednesday. The golds and diversified miners countered each other with the former dropping 0.63 of a point to 211.46, while the latter picked up 0.51 of a point to make 228.84.

Tahera displaced McWatters Mining as the nations busiest mining issue with nearly 28 million shares making their way half a penny higher to 39.5. The company expects to soon formally sign a Inuit Impact Benefit Agreement with the Kitikmeot Inuit Association. The agreement outlines the benefits that will be provided to Inuit as a result of the development and operation of Tahera’s Jericho diamond mine. The company also expects the Nunavut Impact Review Board to hand down its recommendations regarding the project’s environmental impact statement in February.

Beleaguered McWatters remained heavily traded ending unchanged at 2 with more than 23.1 million shares changing hands.

Most of the country’s gold issues traded sideways with exceptions mostly on the minus side. Putting losses of at least 4% were Eldorado Gold, off 21, or 5%, to $3.89, Rio Narcea Gold Mines, 15, or 4.7%, lower at $3.07, Minefinders, which shed 55 to $11.50, River Gold Mines/B>, down 15 to $3.60, and Claude Resources, 9 lower at $1.90.

Noranda was the most traded base metal issue advancing 13 to $20.92. Teck Cominco dropped 51 to $21.44. On Wednesday, Dow Jones Business News reported that the U.S. Supreme Court ruled that the Environmental Protection Agency (EPA) could overrule the State of Alaska when enforcing certain clean-air rules. The decision means the EPA could stop construction of a previously permitted diesel power plant at Teck’s Red Dog zinc mine, north of the Arctic Circle.