INSIDER TRADING (April 27, 1992)

Noramco Capital President Murray Sinclair recently increased his stake in Noramco Mining (TSE) to 24% by paying Breakwater Resources (TSE) $1.4 million for a block of shares.

According to the Ontario Securities Commission OSC Bulletin, Sinclair bought 4.9 million Noramco Mining shares in March for 30 cents each to hold 27,000 directly and 5 million in private holding company Scotsman Capital Corp.

With a combined 46% stake in Noramco Mining, Sinclair and Noramco Capital now control 12 companies with $15 million in working capital.

Other mining insiders who were active in the stock market recently include: Champion Gold Resources (ASE) President Larry Melnick, who exercised warrants for 75,000 shares at 30 cents to hold 1.8 million.

Dickenson Mines (TSE) Vice-President Robert Van Tassell was granted an option to purchase 20,000 class A shares at $3.40 and 10,000 class B shares at $10.50. He now owns 27,000 class A shares and 10,000 class B. Discovery West Corp. (TSE) officer Joan Conway exercised an option to purchase 6,000 shares for $1.50 and sold 9,000 for $2.05-2.79. Officer David Hutton exercised on 5,000 shares at $1.50 which he then sold for $2.07 to hold none. Officer and director Walter Steuerman exercised on 50,000 shares at $1.50 before selling 54,000 at $2.71-2.76 to hold 18,462. Freewest Resources (TSE) director Ronald Kay sold 5,000 shares for $3.75 to hold 45,000. He also bought 2,471 shares at $3.40 to be held in an RRSP. Hillsborough Resources (TSE) insider Mark Allen sold 60,000 shares for $2.50 to hold 25,769. He also transferred 11,371 into an RRSP to hold 14,171. Kingswood Explorations (ASE) President Wayne O’Connor sold 95,500 shares for 30-32 cents to hold just over one million.

Noranda’s (TSE) president of Noranda Minerals, Alex Balogh, sold 1,500 shares for $19.87 to hold 125,875. Noranda Minerals Chairman Keith Hendrick sold 1,900 shares for $19.37 to hold 79,913.

Redstone Resources (TSE) director Edward Godin exercised on 60,000 shares at 70 cents and sold 50,000 for $3.45-3.85 to hold 15,100.