TSE Short Positions (February 25, 2002)

Short positions outstanding at February 15, 2002

Agnico-Eagle. 3,511,200 up 1,144,049; Alcan Inc. 1,284,078 down 127,696; Appalaches 140,456 up 140,456; Ashton 328,350 up 69,950; Aurizon 192,052 up 192,052; Barrick Gold 11,660,700 up 140,210; Bema Gold 233,900 up 200,800; Brascan Cl ‘A’ 1,293,063 down 162,190; Cameco 198,239 down 136,246; Corriente 214,500 up 214,500; Denison Mines 657,673 up 657,237; Dofasco 2,104,563 down 213,996.

Larger individual positions include Echo Bay 411,795 down 184,288; Foran Mining 136,000 up 115,000; Franco-Nevada 3,677,868 up 558,287; Gabriel Res. 134,680 down 57,328; Goldcorp 2,549,581 up 248,301; Golden Star 601,735 up 593,485; Greenshield 115,500 up 83,500; Holmer 160,000 up 127,852; Iamgold 967,257 up 908,340; Inca Pacific 275,500 up 115,000; Inco 10,225,696 down 210,276; Ivanhoe Mines 129,100 up 94,100; Kinross Gold 3,486,055 down 1,085,731; Mcwatters 1,864,289 down 525,600; Meridian Gold 3,411,078 up 175,915; Noranda 1,873,416 down 1,921,825; Novagold 623,772 up 584,172; Oasis Diamond 435,235 up 81,235; Placer Dome 1,916,835 down 148,425; Pure Gold 614,702 up 89,041; Rubicon 263,500 up 213,500; Sherritt Int’l 10,568,678 down 404,001; Solitario Res. 350,000 up 335,000; Starfield 146,400 up 70,756; Taseko Mines 1,051,365 up 839,813; Teck Cominco Cl ‘B’ 10,101,890 up 595,830; TVX Gold 789,640 up 482,970.