INSIDER TRADING — Downey sells Northgate stake

Patrick Downey, chief financial officer for Campbell Resources (TSE) and Northgate Exploration (TSE), sold his holdings in the sister companies in late April.

According to the Ontario Securities Commission’s OSC Bulletin, Downey sold 34,000 Campbell shares at 46-52 cents and 12,281 Northgate shares at $1-1.10. Northgate just arranged a deal to sell its 34.5 million shares (34.5%) of Campbell for $29.4 million or 85 cents per share. Chairman John Kearney described Northgate’s sale as “opportunistic;” an attempt to capitalize on gold’s recent rally and clean up its balance sheet at the same time. Campbell traded as high as $1.30 recently.

In other April transactions:

Aur Resources (TSE) — Ronald Gegel, officer, exercised 10,000 options and sold 25,000 shares at $4.10-$4.40 to hold 4,200 shares.

Central Crude (TSE) — Richard Nemis, officer, sold 20,000 at 60-74 cents to hold 270,263.

Chesbar Resources (TSE) — Steven Brunelle, officer, sold 40,000 at 53 cents to hold none. Marjory Williamson, officer, exercised 75,000 options at 24 cents and sold 50,000 shares at 51-54 cents to hold 45,000 shares. Glamis Gold (TSE) — Frederick Maycock, director, was granted 15,000 options at $4.45 and sold 10,000 shares at $7.13 to hold 80,000. Allen Rovig, officer, sold 10,000 shares at $6.75-7.38 to hold 10,000.

Mill City Gold Mining (ASE) — Robert Brown, officer, sold 97,500 at 80 cents to hold 835,451.

Orofino Resources (TSE) — Julie Stokke, officer, exercised 100,000 options at 10 cents and sold 100,000 at 20 cents to hold none.

Regal Goldfields (CDN) — Robert Taylor, director, bought 8,875 at $2.25-2.75 and sold 6,000 at $2.25-2.70 to hold 56,575.

Rhonda Mining (ASE) — Savanna Resources, holder of more than 10%, bought 12,600 at $6.88-7.88 to hold 2.28 million.

Royal Oak Mines (TSE) — William Sheridan, officer, exercised 20,000 options at 48 cents and sold 6,500 shares at $5.00 to hold 13,500. Margaret Witte, officer, sold 50,000 at $5-5.08 to hold 2.55 million indirectly.