INSIDER TRADING (March 23, 1992)

Three of Noranda’s (TSE) top executives, including Chairman Alf Powis and President David Kerr recently sold a batch of convertible preferred series C shares which they acquired in 1988.

According to the Ontario Securities Commission OSC Bulletin, Kerr sold 42,550 convertible preferred series C shares for $27.03 to hold none. Powis and Senior Vice-President Allan Thomas each sold 37,000 for the same price to close out their holdings. Kerr says that after holding the shares in Micnor Investments, a private company, he and his colleagues broke even on the transaction.

Other mining insiders who were active in the stock market recently include: Arimetco International (TSE) officer Elleen Shipes bought 75,900 shares for $3.80-3.95 to hold 369,233.

Black Cliff Mines (TSE) President Niyazi Kacira exercised an option on 190,000 shares at 16 cents before selling all of them at the same price to hold 1.6 million shares and 140,000 options.

Champion Gold Resources (ASE) President Larry Melnick, who owns more than 10%, sold 15,500 shares for 70-75 cents to hold 1.8 million. Glamis Gold (TSE) officer Steven Stillar sold 12,500 options for $2.35 to close out his holdings.

Golden Knight Resources (TSE) director Bruce McDonald bought 27,800 shares for $8.94 through a private holding company to hold 400 directly and 27,800 indirectly.

Granges (TSE) completed an issuer bid for 23,900 shares of subsidiary Granges Exploration for $1.15-1.18 to hold 23,900.

Holcorp Mines (CDN) officer Murray Sinclair bought 51,527 shares indirectly for $1-1.05 to hold the same number.