Short Positions

Semi-monthly reports as of Feb. 15, 1995 showed 243,958,189 shares of 785 issues compared with 239,236,777 shares of 783 issues on Jan. 31, 1995.

Larger individual positions included: Agnico-Eagle 115,448, down 68,000; Anderson Expl. 27,700, down 30,000; Archer Res. 52,072, up 30,213; Arimetco Intl. 168,300, down 68,300; Baja Gold 69,000; Barrick Gold 4,280,413, down 121,800; Bema Gold 647,300, down 27,300; BGR Precious 90,000; Breakwater 569,200, up 173,000; Caledonia M’g. 375,840; Cambior 214,100; Cameco 85,600, down 220,200; Campbell Res. 3,585,600, up 911,300; Chase 88,000; Cliff Res. 0, down 40,000; Cons. Ramrod 90,500; Dayton M’g. 1,682,400, up 166,700; Diamond Fields 316,595, up 103,500; Dofasco 3,649,957, down 127,300; Echo Bay 949,300, down 21,500; Eden Roc Min. 61,400; Ego Res. 105,300; Euro-Nevada 529,865; Falconbridge 24,100, down 143,900; Fort Knox 0, down 50,000; Franco-Nevada M’g. 335,284, up 27,334; Global Stone 1,452,600, up 51,800; Hemlo Gold 634,500; High River 33,000, up 33,000; Inco 523,600; Kinross Gold 594,700, down 91,900; Lytton Min. 536,600, up 119,300; Manhattan Minerals 1,100, down 66,900; Mark Res. 321,270; Metall M’g. 1,438,947, down 296,550; Miramar M’g. 122,800, down 409,678; Noranda 709,250; Novicourt 531,400; Orvana Min. 65,100; Pan American Mineral 83,700; Petromet Res. 518,300, up 49,400; Placer Dome 976,600, down 61,000; Platinova A/S 0, down 270,000; Potash Corp. of Sask. 77,500, down 152,300; Profco 7,000, down 34,100; Rio Algom 87,800, down 159,400; Royal Oak 2,389,400, up 1,393,200; San Fernando M’g. 161,100, up 62,600; Sherritt Inc. 88,800, up 40,400; Southwestern Gold 68,300; Teck svB 1,425,038, up 65,483; Trillion Res. 0, down 43,000; TVX Gold 220,200, down 305,000; Western Garnet 536,800.