INSIDER TRADING — Sutton insiders find spring a good time to sell

Senior officers of Sutton Resources (STT-V) were active in the market in March and April of 1997, according to the Ontario Securities Commission.

James Sinclair, director, exercised 130,000 options at $12.74, and received 130,050 options under a stock split to hold 260,100 options. He also sold 89,100 shares from indirect holdings at US$14.88 to US$23.21 and received 1,452,642 shares under a stock split to hold 2,905,284 shares indirectly, and received 30,000 options to hold 60,000 options indirectly. Sinclair bought 120,700 warrants, sold 400, and received 122,800 under a stock split to hold 245,600 warrants, all indirectly.

Barbara Sinclair, owner of more than 10% of the company, sold 81,100 shares, all held indirectly, at US$14.88 to US$23.21, and received 926,950 options under a stock split to hold 797,850 shares and 1,595,700 options indirectly.

She also received 525,692 options under a stock split to hold 1,051,384 options directly, and bought 120,700 and sold 400 warrants while receiving 122,800 under a stock split to hold 245,600 warrants indirectly.

Anthonie Luteijn, senior officer, received 130,000 options under a stock split to hold 260,000 options.

Other transactions carried out by noteworthy insiders include the following: * Canadian Arrow Mines (CAML-C) — John Larche, director, sold 93,000 shares at $1.05 to $1.20 to hold 1,868,335 shares.

* Findore Minerals (FNDR-C) — Drew Currah, director, bought 893,300 shares at 16 cents to 23 cents and sold 212,000 at 16 cents to 23 cents to hold 1,048,938 shares, all indirectly.

* Geomaque Explorations (GEO-T) — M.R. Carter, director of an affiliated company, exercised 50,000 options at $1.40 to $1.55 and sold 50,000 shares at $3.55 to hold no shares and 170,000 options. J.H. Paterson, director, bought 500 shares at $3.20 to hold 221,042 shares. Phillip Walford, director, exercised 80,000 options at $1.52 and sold 50,000 shares at $3.46 to hold 31,100 shares.

* Golden Knight Resources (GKR-T) — R.A. Quartermain, director, bought 31,000 shares at $3.55 to $4 to hold 89,750 shares.

* Golden Rule Resources (GNU-T) — C.W. Cole, deemed an insider, exercised 150,000 options at $2.05 and sold 25,000 shares at $5.10 to $5.90 to hold 125,000 shares.

* Inmet Mining (IMN-T) — The Ontario Teachers’ Pension Plan, owner of more than 10% of the company, bought 32,000 shares at $9.30 to $9.39 and sold 2,425,000 at $8.01 to hold 8,006,476 shares.

* International Precious Metals (IPMC-C) — Capital Group, owner of more than 10% of the company, bought 161,600 shares at $8.75 to $10.13 to hold 1,554,300. R.W. French, director, received 75,000 options, exercised 30,000 at $1.45 to $2.50 and sold 30,000 shares at US$8.75 to $12.97 to hold no shares and 45,000 options.

* Lakefield Minerals (LKFD-C) — Dominique Monardo, director, bought 91,100 shares at $1.41 to $1.80 and sold 20,000 shares at $1.75 to hold 93,900 shares, all through White Knight Capital. She also bought 1,000 shares at $1.41 to hold 1,792,858 shares directly.

* Manhattan Minerals (MAN-T) — Brian Lock, director, sold 2,800 shares at $8.30 to $8.90 to hold 50,700 shares directly and 10,900 through Brigill Investments. R.D. Willis, director, sold 11,000 shares at $8.50 to $8.80 and transferred 60,000 shares at $9 to Outdoors Unlimited Sporting Goods, to hold 671,000 shares directly, 60,000 through Outdoors Unlimited, and 6,000 in a registered retirement savings plan (RRSP).

* Manson Creek Resources (MCK-T) — G.H. Harper, director, bought 129,100 shares at 38 cents to hold 308,730 shares.

* Oroperu Resources (OROP-C) — K.W. Livingstone, director, sold 61,742 shares at $2.60 to $3 to hold 477,395 shares. Ophir Investment Fund, owner of more than 10% of the company, sold 74,000 shares at $2.28 to $2.50 to hold 3,000,000 shares.

* Tandem Resources (TDM-M) — E.L. Cristall, director, sold 89,400 shares at 52 cents to $1.80.

* William Resources (WIM-T) — Stan Bharti, director, bought 127,522 shares from a spousal RRSP at $1.29 to $1.30 and sold 127,750 shares at $1.28 to $1.42, all privately, to hold 1,232,596 shares directly, 13,500 through RRSPs owned by others, and 120,750 shares in other indirect holdings. Risto Laamanen, director, sold 206,500 shares at $1.14 to $1.31 to hold 342,224 shares.