Insiders bask in hot resource sector

Recent insider trading transactions reported by the Ontario Securities Commission include the following:

Barrick Gold (ABX-T) — Brian Mulroney, director, exercised 237,500 options indirectly at $22.55 or $23.60 per option and sold the resulting shares at $29.29 apiece to hold 150,000 options and no shares; Michael Brown, officer, exercised 10,000 options indirectly at $22.55 and sold the resulting shares at $29.30 to hold 75,000 options and no shares; John Butler, officer, exercised 25,000 options indirectly at $22.55 and sold the resulting shares at $29.60 to hold 375,000 options and no shares; Alexander Davidson, officer, exercised 25,000 options indirectly at $22.55 and sold the resulting shares at $30 to hold 290,000 options and no shares; James Fleming, officer, exercised 7,500 options indirectly at $25.95 and sold the resulting shares at $29.96 or $30 to hold 72,500 options and no shares; and Jamie Sokalsky, officer, exercised 37,500 options indirectly at $22.55 and sold the resulting shares at $29.60-29.85 to hold 410,000 options and no shares.

Corner Bay Silver (BAY-T) — Frank Nolan, director, sold 11,000 shares at $2.75 or $3.05 to hold 49,000 shares.

First Silver Reserve (FSR-T) — Lawrence Barr, director, exercised 80,000 options at 55 and sold the resulting shares at 89-93 to hold 45,000 options and no shares; Len Brownlie, director, exercised 60,000 options at 55 and sold the resulting shares at 90 or 93 to hold 80,000 options and no shares; James O’Rourke, director, exercised 70,000 options at 55 and sold the resulting shares at 90 to hold 130,000 options and no shares; and Rodney Shier, officer, exercised 60,000 options at 55 and sold the resulting shares at 90 to hold 90,000 options and no shares.

Goldcorp (G-T) — Donald Quick, director, sold 8,625 shares at $26.55 to hold 15,000 shares; Raymond Humphrey, officer, sold 4,000 shares at $25.92 to hold 4,333 shares; Victoria Russel, officer, exercised 10,000 options at $4.07 or $7.35 and sold the resulting shares at $26.20 or $26.25 to hold 96,167 options and 5,000 shares; and Brad Boland, officer, was granted 27,000 options that can be exercised at $6.50 or $7.80, exercised 7,000 of them and then sold the resulting shares at $25.16-25.35 to hold 20,000 options and no shares.

Holmer Gold Mines (HGM-T) — Frederick Harvey, director, exercised 150,000 options at 10 and sold 100,000 of the resulting shares at 24-27 to hold 60,000 shares.

Ivanhoe Mines (IVN-T) — Edward Rochette, officer, exercised 125,500 options at $1.20 and sold the resulting shares at $2.81-3.17 to hold 627,800 options and 177,000 shares; Robert Sibthorpe, officer, exercised 30,000 options at $1.20 and sold 25,000 of the resulting shares at $2.79 or $2.80 to hold 70,000 options and 5,000 shares; and David Sandy, deemed an insider by affiliation, exercised 275,000 options at $1.20 and sold the resulting shares at $2.79 to hold 325,000 options and no shares.

Minefinders (MFL-T) — Herman King, director, exercised 25,000 options at $1.25 and sold 19,000 of the resulting shares at $2.58-2.97 to hold 100,000 options and 6,000 shares.

Northgate Exploration (NGX-T) — Jon Douglas, officer, was granted 40,000 options that can be exercised at $1.45 apiece to hold 140,000 options; Kenneth Stowe, officer, was granted 100,000 options that can be exercised at $1.45 to hold 500,000 options; and B.C. Pacific Capital, holder of more than 10%, bought 85,000 shares at 87 to hold 2.1 million shares.

Pacific North West Capital (PFN-T) — Harry Barr, director, sold 29,000 shares at 60-64 and another 19,500 shares indirectly at 62-68 to hold none directly but 1.5 million indirectly.

Pan American Silver (PAA-T) — John Fletcher, director, exercised 30,000 options at $5 and sold the resulting shares at $8.18 to hold 50,000 options and no shares; and Rosalie Moore, officer, exercised 10,000 options at $5 and sold the resulting shares at $7.12 to hold 90,000 options and no shares.

Patrician Consolidated Gold Mines (PXC-V) — James Frankin, director, sold 80,000 shares at 52 or 55 to hold 80,000 shares.

Platinova A/S (PAS-T) — Gerhard Von Finck, owner of more than 10%, sold just over 1 million common shares at 6 or 7 and 20,000 special shares at 6 or 7 to hold 2.4 million common shares and 10,000 special shares.

Pure Gold Minerals (PUG-T) — Donald Sheldon, director, sold 200,000 shares indirectly at 21-28 to hold 200,000 shares indirectly.

Rio Narcea Gold Mines (RNG-T) — Robert Quartermain, director, exercised 30,000 options at $2.50 to hold 197,200 and 450,000 options.

SouthernEra Resources (SUF-T) — James Anthony, director, sold 30,500 shares at $3.75-4.65 to hold 84,500 shares; Rudi Fronk, director, sold 40,000 shares at $3.60-4.60 to hold 90,000 shares; and Howard Bird, officer, sold 17,000 shares at $3.77-4.45 to hold 133,000 shares.

Tiomin Resources (TIO-T) — Neil Gagnon, owner of more than 10%, sold 544,000 shares at 18-20 to hold 1.27 million shares.

Twin Mining (TWG-T) — James Gray, director, bought 50,000 shares at 49-53 to hold 2 million shares.

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