TSE SHORT POSITIONS (January 23, 1995)

Semi-monthly reports as of Dec 15, 1994 showed 255,885,020 shares of 813 issues compared with 252,151,713 shares of 818 issues on Nov 30, 1994.

Larger individual positions included: Aber 57,140; Agnico-Eagle 114,127; Amer. Barrick 5,241,353, down 106,588; Anderson Expl. 23,100, down 72,200; Arimetco Intl. 254,600, down 299,150; Ashton M’g. 3,000, down 61,000; Battle Mtn. 0, down 27,314; Bema Gold 951,100, down 492,350; Black Swan 14,000, down 41,600; Breakwater Res. 19,630,940, up 17,302,040; Caledonia M’g. 437,488, down 41,390; Cambior 393,500, down 112,900; Campbell Res. 2,236,800, down 395,741; Caribgold 6,400, down 26,700; Chase 94,800; Cons. Ramrod 92,400; Czar Res. 1,063,900, up 699,400; Dayton M’g. 1,809,200, up 88,900; Diamond Fields 279,850, up 67,415; Dofasco 3,572,328, down 51,941; Echo Bay 1,100,400, up 432,775; Ecuadorian Minerals 84,400, up 58,500; Eden Roc Min. 57,200; Euro-Nevada 527,743; Falconbridge 131,600, down 142,264; Fort Knox 54,000, up 54,000; Franco-Nevada M’g. 338,723; Global Stone 1,126,600, up 28,200; Gulfstream 236,700; Hemlo Gold 785,586, up 68,386; High River 0, up 43,500; Inco 446,990, down 90,580; Int’l. Platinum 41,083, up 34,028; Kinross Gold 853,603, up 151,573; Lytton Min. 534,200, down 31,700; Manhattan Minerals 65,500; Mark Res. 198,970; Marshall Minerals 2,002,700; Metall M’g. 1,512,301, up 26,478; Minera Rayrock svA 52,800; Miramar M’g. 366,410, up 31,815; MSV Res. 0, up 45,000; Noranda 1,397,850, down 3,791,840; Novicourt 514,900, down 48,900; Orvana Min. 61,800; Pan American Minerals 85,900; Petromet Res. 624,000, down 193,400; Placer Dome 1,218,800, down 79,019; Platinova A/S 300, down 41,500; Potash Corp. of Sask. 19,500, down 68,441; Rio Algom 190,548; Royal Oak 2,708,400; San Fernando M’g. 127,500; Sherritt Inc. 81,500, up 47,500; Southwestern Gold 62,800; Teck svB 1,297,182, down 170,300; Trillion Res. 151,100; TVX Gold 126,800; Vengold 15,100, down 31,043; Western Garnet 570,200.