Jan Alston, secretary-treasurer of Saskatchewan diamond explorer Rhonda Mining (ASE), stands to make a substantial profit after exercising options at a considerable discount to the recent market price.
According to the Ontario Securities Commission’s OSC Bulletin, Alston exercised on 10,000 shares in early June at 25 cents each when the shares were trading in Alberta at $2. At about the same time, he also sold 10,350 shares for $1.59 to hold 10,000 shares and 30,000 options.
Rhonda Mining has acquired 74,000 acres of claims near Prince Albert, Sask., that were previously held by troubled Saskatchewan gold producer Claude Resources (TSE). According to Peter Gummer, now president of Rhonda after resigning from Claude, geophysical and geological evidence indicates that the source of the diamond-bearing kimberlite occurrences in the area lie on Rhonda’s ground. There are currently 2.2 million Rhonda shares outstanding. Other mining insiders who were active in the stock market recently include: Aber Resources (TSE) director Thatcher Townsend sold 65,000 shares for $2-2.25 to hold 117,360.
Aur Resources (TSE) officer Donald Bubar sold 4,800 shares for $2.60 each to hold 10,000.
Bema Gold (TSE) Chairman Clive Johnson sold 16,300 shares for $1.57-1.60 to hold 43,900. He also holds 578,420 shares in a British Columbia numbered company.
Claude Resources (TSE) affiliate BEC International Corp., which owns more than 10%, sold 281,000 shares for an undisclosed price to hold 2.9 million. Cominco (TSE) officer John Giovanetto exercised an option on 3,000 shares at $15.18. He then sold the shares for $20.62-20.75 to hold 189. Maurice Madley, deemed an insider, exercised on 3,000 shares at $15.19 which he then sold for $20 to hold 104.
SouthernEra Resources (TSE) director Lee Barker sold 11,900 shares for $1.65-1.68 to hold 88,100.
TVX Gold (TSE) director Nigel Lees sold 11,416 shares held directly and indirectly for $3.85-3.90 to hold 140,701 in various privately owned numbered companies.
Viceroy Resources (TSE) director Bernard Brynelsen sold 13,000 shares for $4.05-4.25 to hold 31,501.
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