INSIDER TRADING Vaughan drops stake in Thunderwood Res.

Thunderwood Resources (TSE) director William Vaughan recently sold a considerable portion of his interest in the Toronto-based gold and base metal explorer. According to the Ontario Securities Commission’s OSC Bulletin, from Dec. 5 to 28, Vaughan sold 44,000 shares for 61-83 cents to hold 69,339.

Lately, as exploration resumed at the Scott Lake massive sulphide joint venture involving Thunderwood and equal partner Greenstone Resources (TSE), Thunderwood shares were trading at 68 cents. The 52-week range for the issue is 60 cents and $1.95.

Having already outlined 777,000 tons of grade 6.9% zinc, 0.14% copper, 0.34 oz. silver and 0.01 oz. gold per ton in the Scott Lake deposit, a new exploration program is targeting three main targets on the 5,988-acre property, 12 miles west of Chibougamau, Que.

Thunderwood is also involved in a gold exploration project at Pelletier Lake near Rouyn-Noranda, Que., with partner Falconbridge Ltd. With preliminary reserves standing at 973,000 tons grading 0.20 oz. gold, Thunderwood can increase its interest in the project to 51% from 35% by spending $3.5 million to extract a 10,000-ton bulk sample.

Other mining insiders who were active in the stock market recently include:

BMR Gold (ASE) officer Brant Little exercised an option to purchase 17,000 shares at $1.04. He later sold all of the shares for $1.05-1.09 to hold 100,000. He also retains 200,000 BMR options.

Claude Resources (TSE) affiliate BEC International Corp. bought 18,000 shares for $1.90-2.15 to hold 3.4 million.

Geddes Resources’ (TSE) director Geddes Webster sold 28,339 shares for 90 cents to hold 343,100.

Marshall Minerals’ (ASE) director and officer Gerald Hedican exercised an option to buy 90,000 shares for 65 cents. He also sold 13,300 shares for $1 to hold 138,110.

Redfern Resources (TSE) Chairman John Greig sold 4,500 shares for $3.40-3.65 to hold 59,600 directly and 273,100 indirectly though a holding company and an RRSP.

Teck (TSE) Vice-President Brian Keevil sold 20,000 shares for $20-20.50 to hold 100,000 indirectly through Obabika Investments. He also holds 36,600 Class B subordinate voting shares directly.