TSE SHORTS (July 01, 1996)

Short positions outstanding at June 15, 1996

Larger individual positions included: Barrick Gold 8,936,790; Agnico-Eagle 399,194; Arequipa 137,000 Aur Resources 149,300; Bema Gold 4,276,777; Caledonia Mining 213,900; Campbell 2,568,578; Cominco 429,408; Canadian Natural 1,000,700; CS Resources 1,719,100; Dayton Mining 208,814; Echo Bay Mines 198,900; Falconbridge 1,153,000; Gold Reserve 257,300; Gulf Canada 250,611; Greenstone 2,238,808; Golden Star 167,050; Golden Shamrock 5,798,728; Hemlo Gold 680,200; Inmet Mining 1,420,221; Kinross Gold 1,135,930; Muscocho 141,400; Inco 2,650,671; Norcen Energy 760,863; Noranda 1,222,518; Placer Dome 2,382,727; Pegasus Gold 213,800; Princeton Mining 2,156,000; Queenstake 219,100; Rea Gold 289,700; Royal Oak Mines 105,600; St.

Genevieve 124,400; Sikaman Gold 835,500; TVX Gold 671,000; United Keno Hill 441,300; Viceroy Resources 216,100; William Resources 1,767,835; Yamana 193,000.