TSE SHORT POSITIONS (July 28, 1997)

Short positions outstanding at July 15, 1997

Larger individual positions included: Barrick Gold 10,938,501, up 810,045; Bema Gold 4,426,645, down 369,241; Campbell Resources 3,470,249, up 883,549; Echo Bay Mines 504,700, up 364,869; Franc-Or Resources 319,500, up 318,800; Inco 4,214,447, down 267,045; Indochina Goldfields 117,300, down 558,000; Messina Diamond 205,800, up 202,700; NDU Res. 0, down 115,000; Newstar Res.

122,800, up 122,800; Princeton Mining 4,115,006, down 283,494; Rea Gold 23,600, down 551,600; Sonora Diamond 107,500, up 107,500; Teck SvB 2,658,973, down 59,360; Vista Gold 71,046, down 654,349; William Resources 1,270,588, up 526,354.