INSIDER TRADING — Two Madeleine officers sell shares in

Two officers of Madeleine Mines (TSE) (now called North American Palladium) exercised options and sold shares in June.

According to the Ontario Securities Commission’s OSC Bulletin, officer Peter Blunt exercised 20,000 options at $3 and sold 8,200 shares at $5.63-6 to hold 26,800 shares. He was granted 15,000 options at $6.

Officer Virginia Hall exercised 20,000 options at $3 and sold 9,000 shares at $5.88-6.36 to hold 24,001 shares. She was also granted 15,000 options at $6. North American Palladium expects to begin production at its Lac des Iles property in northwestern Ontario this summer. Aside from the Stillwater operation in Montana, Lac des Iles would be the only North American mine producing palladium as a primary product. A 3,000-ton-per-day operation is envisioned.

In other transactions completed in May and June:

American Barrick Resources (TSE) — Alan Hill, officer, exercised 40,000 options at $7.53 and sold 35,000 shares at $32.16 to hold 5,680 shares and 180,000 options.

Aur Resources (TSE) — Leo Thibodeau, director, sold 8,334 shares at $4.30 to hold 40,000 shares.

Dickenson Mines (TSE) — Robert Van Tassell, officer, exercised 3,100 options at $3.40 and sold 10,100 shares at $5.50-7 to hold no shares and 16,900 options.

Equinox Resources (TSE) — John Wright, director, exercised 10,000 options at $1.45 and sold 22,400 shares at $2.25-2.56 to hold 30,400 shares and 145,000 options.

Glencairn Explorations (ASE) — Laurence Stephenson, director, sold 46,000 at 42 cents, then bought 70,000 at 25 cents to hold 219,000.

Great Lakes Minerals (TSE) — Paul Stein, officer, exercised 10,000 options at 35 cents and sold 10,000 shares at $1.33 to hold none.

Lac Minerals (TSE) — Harry Rutetzki, officer, sold 10,000 at $12.75 to hold 5,573 directly and 4,000 indirectly.

Metalore Resources (TSE) — George Chilian, holder of more than 10%, sold 1,900 at $13.25-16 to hold 273,650.

Muscocho Explorations (TSE) — John Daly, officer, exercised 50,000 options at 14.5 cents and sold 30,000 shares at 50 cents to hold 50,000 shares and 100,000 options. Marjory Williamson, officer, exercised 25,000 options at 14.5 cents and sold 25,000 shares at 48 cents to hold none.

Queenstake Resources (TSE) — Helmut Wober, director, sold 10,000 shares at $3.65-3.70 to hold 60,000.

SouthernEra Resources (TSE) — Christopher Jennings, officer, bought 7,000 at $8.38-9.42 to hold 1.27 million.