MINING MARKETS & INVESTMENT NEWS – INSIDER TRADING — TVX execs let options lapse

Two executives of TVX Gold (TVX-T) have allowed several of their options in that company to expire.

Eike Batista, director, let expire 2 million call options at $4.75 and was granted an equivalent number at $3.25 to hold 8.15 million call options. Ian Rugeroni, director, let expire 30,000 options at $4.75 to hold 250,000 options.

Other recent insider transac-tions reported by the Ontario Securities Commission include the following:

* Adrian Resources (ADL-T) — Stuart Angus, director, let expire 125,000 options at an unspecified price and was granted 125,000 options at 45 cents to hold 125,000 options; Robert Brenes, director, was granted 125,000 options at 45 cents to hold 125,000 options.

* Comaplex Minerals (CMF-T) — Comstate Resources, owner of more than 10% of the company, bought 30,000 shares at 90 cents-$1.20 to hold 14.31 million shares.

* Cumberland Resources (CBD-T) — Comaplex Minerals, owner of more than 10%, bought 10,000 shares at $1.50 to hold 1.62 million shares.

* First Dynasty Mines (FDM-T) — Robert Friedland, owner of more than 10%, acquired 18.34 million shares indirectly at 40 cents to hold 28.73 million shares through Evershine LLC and 1.47 million shares directly.

* Richmont Mines (RIC-T) — Nicole Veilleux, officer, was granted 25,000 options at $3.70 to hold 25,000 options.

* Southern Africa Minerals (SAF-T) — Wayne O’Connor, director, bought 78,500 shares at 85 cents-$1 to hold 1.08 million shares.

* Ungava Minerals (UNGV-C) — Christine Erikson, owner of more than 10%, bought 525,000 shares directly at 10 cents and transferred 1.12 million shares at 10 cents into an indirect account to hold 1.1 million shares directly and 2.92 million shares indirectly.