TSE SHORTS (August 16, 1999)

Short positions outstanding at July 31, 1999

Larger individual positions include:Abitibi Consolidated 1,424,086, down 387,888; Alcan Aluminium 924,250, down 203,256; Armada Gold 150,000; Barrick Gold 6,193,271, down 552,603; Boliden 4,178,200; Bowridge Resource Group 338,100, up 170,000; Campbell Resources 459,474; Canadian Hunter Exploration 131,919, up 64,028; Cominco 3,436,050, up 105,802; Consolidated Samarkand Resources 100,000, up 100,000; Dayton Mining 129,700; Dejour Mines 178,000, down 66,000; Denison Mines 849,000, up 127,000; Echo Bay Mines 174,800; Ecuadorian Minerals 221,928, up 215,428; Euro-Nevada Mining 1,818,302, up 196,266; Falconbridge 117,526; Franco-Nevada Mining 1,223,866; Gulf Canada Resources 1,029,039, down 160,518; Inco 6,539,399, down 100,645; Manhattan Minerals 276,900; Matamec Explorations 306,323, up 306,323; Noranda 1,433,911, down 224,396; Pan American Silver 129,400; Philex Gold 228,633, up 228,633; Placer Dome 1,639,082, down 419,380; Probe Exploration 1,506,800; Rio Algom 2,715,726; Royal Oak Mines 1,808,600, down 100,000; Sherritt Int’l 13,696,100, up 677,428; Vengold 243,000, up 199,000; Westminister Resources 346,000, up 212,500; William Resources 6,573,250, up 1,217,000.