INSIDER TRADES (January 16, 1989)

Burgess Point — Perton Dev bought 31,000 (Nov, private) @ 10 to hold 583,313.

Campbell Res — R. Lister bought 25,100 (Oct, Nov) @ $1.10 to hold 466,727.

Citadel — Sherfam Ind bought 708,644 @ $2.35-40 to hold 2,880,844.

Euro-Nevada — Nevada Capital bought 50,000 (Nov) @ $4.10 to hold 1,556,660.

Franco-Nevada — Nevada Capital bought 150,000 (Nov) @ $7.62 to hold 1,806,000.

Gldn Star — D. Fennell bought 24,100 (Nov) @ $2.60-$3 to hold 773,020.

Houston Metals — Equity Preservation sold 73,000 (Nov) @ 20 -23 to hold 970,461.

Muscocho — Echo Bay bought 36,000 (Nov) @ $4 to hold 8,882,291.

States — Royal Gold bought 3,241,659 common shares and the same number of warrants to hold same. Trades reported by OSC

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