TSE SHORT POSITIONS (September 08, 1997)

Short positions outstanding at August 15, 1997

Larger individual positions include: Anvil Range Mining 125,500, up 125,500; Barrick Gold 10,721,067, down 1,083,831; Bema Gold 4,321,786, down 85,500; Campbell Resources 3,806,178, down 108,600; Euro-Nevada 1,572,088, up 463,130; Franco-Nevada 772,472, up 300,506; Gulf Canada 4,080,776, up 2,134,461; Inco 4,443,037, down 51,853; Meridian Gold 13,400, down 292,700; Princeton Mining 4,215,006; Royal Oak 915,500, up 831,200; Sherritt Intl 16,462,847, up 525,605; Upton Resources 266,000, up 258,200.