MINING MARKETS & INVESTMENT NEWS – INSIDER TRADING — Freeport insiders exercise options

In April, according to filings with the U.S. Securities and Exchange Commission, two directors of Freeport-McMoRan Copper & Gold (FCX.A-N) liquidated stock, while three others increased their holdings.

Robert Bruce sold 40,000 Class A shares indirectly at US$18 and sold 111,387 Class B shares indirectly at US$19.38 to hold, both indirectly and directly, 90,500 Class A and 7,017 Class B shares; Bobby Lackey exercised 7,758 Class B options at US$13.87 and sold them at US$19.75 to hold 1,867 Class B and 128 Class A shares; Robert Day exercised 3,879 Class B options at US$13.87 to hold 82,463 Class B and 7,752 Class A shares; George Putnam exercised 7,758 Class B options at US$13.87 to hold 17,237 Class B and 672 Class A shares; and B.M. Rankin exercised 7,758 Class B options at US$13.87 to hold 394,394 Class B and 25,278 Class A shares.

Other recent transactions include:

* Battle Mountain Gold (BMG-N) — Delo Caspary, director, purchased 5,000 shares at US$5.25 to hold 45,000 shares.

* Asarco (AR-N) — Augustus Kinsolving, officer, exercised 1,044 options at US$23.69 and sold 913 of those shares at US$27.09 to hold 16,486 shares indirectly.

* Hanover Gold (HVGO-N) — Neal Degerstrom, beneficial owner, bought 166,667 shares at US45 cents to old 1.6 million shares; and Robinson Bosworth, director, bought 42,000 shares at US44 cents-53 cents to hold 624,393 shares. The former transaction took place prior to the company’s 10-for-1 share consolidation.

Meanwhile, recent filings with the Ontario Securities Commission include trades by a director of Rhonda Mining (RDM-A). Glen Alston sold 163,500 shares at 51 cents-75 cents and bought 126,500 shares at 50 cents-75 cents during the March-to-May period to hold 256,250 shares.

* Metallica Resources (MR-T) — Oliver Lennox-King, director, was granted 75,000 options at $2.24 to hold 75,000 options; Ian Shaw, director, exercised 20,000 options at 50 cents to hold 20,000 options and 25,000 shares; and Alan Spence, director, exercised 20,000 options at 50 cents to hold 20,000 options.

* Tiomin Resources (TIO-T) — Oliver Lennox-King, director, was granted 75,000 options at 58 cents-60 cents to hold 225,000 options; Ian Macneily, officer, was granted 150,000 options at 58 cents-60 cents to hold an undisclosed number of options; Jean Potvin, director, acquired 24,000 shares indirectly at 53 cents to hold 102,000 shares in a family trust account and 682,520 shares through his spouse; and Peter Steen, former director, acquired 50,000 options under a company plan to hold 265,000 options.