Exercise program good for gold company execs

The recovery of gold equities allowed various gold company executives to cash in on low-priced stock options in the past month. Insider trading transactions reported in the April 2004 issue of the OSC Bulletin include the following:

— Aber Diamond (ABZ-T) — Grenville Thomas, director, sold 10,000 shares at prices ranging from $41.90 to $42.23 to hold 322,300 shares.

— Alamos Gold (AGI-V) — John McCluskey, director and officer, bought 31,400 shares at prices ranging from $2.30 to $2.60 to hold 257,868 shares.

— Anooraq Resources (ARQ-V) — Robert Dickinson, director and officer, sold 47,900 shares at prices ranging from $2.38 to $3.39 to hold 51,000 shares; Robert Hunter, director, sold 86,000 shares at prices ranging from $2.80 to $3.48 to hold 476,952 shares.

— Anatolia Minerals (ANOU-T) — James Davidson, director, sold 100,000 shares at $1.66 to hold 490,000 shares.

— Aquiline Resources (AQI-V) — David W. Tice & Associates, 10% security holder, bought 279,100 shares at prices ranging from 81 to 97 to hold 1.69 million shares.

— Arctic Star Diamond (ADD-V) — Patrick Power, director and officer, bought 149,500 shares at prices ranging from 56 to 60 to hold 1.62 million shares.

— Barrick Gold (ABX-T) — Ammar Al-Joundi, officer, exercised options to buy 12,500 shares at $23.60 and sold 12,500 shares at prices ranging from $30.93 to $30.97 to hold no shares and 225,000 options; Vincent Borg, officer, exercised an option to buy 10,000 shares at $22.22 and $22.55 and sold 10,000 shares at prices ranging from $29.70 to $31.50 to hold no shares and 175,000 options; Alexander Davidson, officer, exercised an option to buy 25,000 shares at $23.60 and sold 25,000 shares at $30 to hold no shares; Anthony Lang, officer, exercised an option to buy 17,119 shares at $8.96 and sold 19,619 shares at prices from $23.53 to $23.73 to hold 2,845 shares and 187,572 options; James Mavor, officer, exercised an option to buy 7,500 shares at $23.60 and sold 8,500 shares at $31.15 to $31.20 to hold 4,000 shares and 63,750 options; Stephen Orr, officer, exercised an option to buy 16,324 shares at $8.96 and sold 16,324 shares at $30.90 to hold no shares and 144,668 options; Calvin Pon, officer, exercised an option to buy 13,750 shares at prices of $23.60 and $23.75 and sold 13,750 shares at prices ranging from $30.31 to $30.39 to hold no shares and 93,750 options; Jack Thompson, director and officer, exercised an option to buy 30,000 shares at $17.75 and sold 30,000 shares at prices ranging from $23.62 to $23.65 to hold 35,601 shares and 163,429 options.

— Bear Creek Mining (BCM-V) — Catherine McLeod-Seltzer, director and officer, sold 192,845 shares at 53 to hold 499,405 shares; Kevin Morano, director, sold 100,000 shares at 53 to hold 896,709 shares; Andrew Swarthout, director and officer, sold 119,494 shares at 53 to hold 488,482 shares.

— Bema Gold (BGO-T) — Robert Angus, director, exercised an option for 65,000 shares at $1.25 and sold 65,000 shares at $4.40 to hold 89,379 shares and options for 500,000 shares; Robert Cross, director, sold 260,000 shares at prices from $4.05 to $4.37 to hold 500,000 shares; Cole McFarland, director, exercised an option to buy 50,000 shares at $1.25 and sold 50,000 shares at prices from $4.38 to $4.42 to hold 3,500 shares and 400,000 options.

— Blackrock Ventures (BVI-T) — John Festival, director and officer, exercised options for 62,400 shares at 57 and sold those shares for prices ranging from $7.35 to $7.40 to hold 209,500 shares and options for another 765,600 shares.

— Bolivar Gold (BGC-T) — Jose Arata, director and officer, sold 103,600 shares at prices from $1.70 to $2 to hold 504,465 shares.

— Cameco (CCO-T) — Caroline Gorsalitz, director, exercised options to buy 1,900 shares at prices ranging from $28.83 to $43.84 and sold 1,900 shares at $65.22 to hold no shares and 5,900 options; Jesse Ivany, director, exercised options for 2,000 shares at $28.83 and sold 2,000 shares at prices ranging from $63.85 to $63.90 to hold 6,000 options and no shares; David Petroff, officer, exercised an option to buy 15,000 shares at $41.90 and sold 15,000 shares at prices ranging from $65.50 to $65.87.

— Canarc Resource (CCM-T) — David W. Tice & Associates, 10% security holder, sold 5.4 million shares at prices ranging from 77 to 81 to hold 4.1 million shares and 250,000 warrants.

— Canico Resource (CNI-T) — Jonathan Rubenstein, director and officer, sold 50,000 shares at $12.80 to hold 1 million shares.

— Denison Mines (DEN-T) — James Blair, director, sold 34,285 shares at prices ranging from $5.50 to $7.20 to hold 10,000 shares; Paul Little, director, sold 53,000 shares at prices ranging from $5.84 to $8.05 to hold 121,448 shares.

— DiamondWorks (DMW-T) — Bernard Poznanski, director and officer, exercised an option to buy 50,000 shares at 80 and sold 26,100 shares at prices ranging from $3 to $3.07.

— Excellon Resources (EXN-V) — Top-Gold AG mvK, 10% security holder, sold 1.5 million shares at 25 to hold 8.25 million shares.

— Falconbridge (FL-T) — Allen Hayward, officer, sold 5,700 shares at $31.40 to hold 42,700 options and no shares.

— First Silver Reserve (FSR-T) — H.D. Santos, 10% security holder, director and officer, exercised an option to buy 50,000 shares at 55 and sold 80,300 shares at prices ranging from $1.95 to $2.45 to hold 27.1 million shares and 435,000 options.

— Gammon Lake Resources (GAM-T) — Gregory Liller, officer, exercised an option to buy 20,000 shares at 75 and sold 15,500 shares at prices ranging from $5.23 to $5.88 to hold 4,500 shares.

— Glamis Gold (GLG-T) — Charles Jeannes, officer, exercised an option to buy 50,000 shares at $7.38 and sold 50,000 shares at prices ranging from $23.52 to $23.55 to hold 50,000 shares and 375,000 options; Kenneth Williamson, director, exercised an option to buy 25,000 shares at $2.60 and sold 25,000 shares at prices ranging from $23.50 to $23.64 to hold 5,000 shares and 75,000 options.

— Golden Star Resources (GSC-T) — James Askew, director, sold 60,000 shares at prices from $7.21 to $7.24 to hold 100,000 shares; Robert Stone, director, exercised an option to buy 40,000 shares at 87 and sold 44,900 shares at prices ranging from $6.65 to $6.74 to hold 5,000 shares and 40,000 options.

— Harte Gold (YHR-V) — Milton Klyman, director, received 3.2 million shares for services.

— IMA Exploration (IMR-V) — Joe Grosso, director and officer, bought 27,100 shares privately at $2.50 to hold 638,702 shares.

— Ivanhoe Mines (IVN-T) — Gordon Toll, director, sold 25,000 shares at $7.85 to hold 1.13 million shares.

— Jaguar Nickel (JNI-T) — Thomas Magee, director and officer, exercised an option to buy 480,000 shares at 30 and sold 500,000 shares to hold 420,000 shares.

— Metallica Resources (MR-T) — Richard Hall, director and officer, exercised an option to buy 100,000 shares at 70 and sold 112,500 shares at prices ranging from $1.86 to $1.90 to hold 397,916 shares and options for 475,000 shares.

— Northern Dynasty Minerals (NDM-V) — Robert Hunter, director, sold 13,200 shares at prices from $7.55 to $7.78 to hold 529,482 shares.

— Pacific Rim Mining (PMU-T) — David Fagan, director, exercised options for 234,866 shares at prices from 54 to $1.36 and sold 218,200 shares at prices from $1.55 to $1.66 to hold 6,666 shares and options for 93,334 shares.

— Pan American Silver (PAA-T) — Paul Sweeney, director, exercised an option to buy 20,000 shares at $5 and sold 5,000 shares at $24 to hold 15,000 shares and 86,500 options; John Wilson, director, exercised options to buy 13,360 shares at $9.66 and $10.10 and sold 11,360 shares at prices ranging from $22.30 to $22.36 to hold 2,000 shares and no options; John Wright, director and officer, exercised an option to buy 20,000 shares at $5 and 5,000 shares at $9.25 and sold 29,700 shares at prices ranging from $25.10 to $25.25 to hold 15,000 shares and 85,000 options.

— Placer Dome (PDG-T) — Anthony Giardini, officer, exercised options for 3,050 shares at $12.69 and sold 3,050 shares at $23.67 to hold 82,684 options and no shares; Noel Foley, director or officer of insider or subsidiary of issuer, exercised an option to buy 10,884 shares at prices ranging from $10.36 to $12.69 and sold 10,884 shares at prices ranging from $17.50 to $23.50 to hold no shares and 32,133 options.

— Polymet Mining (POM-V) — Georgios Molyviatis, director, sold 111,000 shares at prices ranging from 85 to $1.16 to hold 3.82 million shares.

— Quadra Mining (QUA-T) — Jack Miller, officer, sold 20,000 shares at prices of $5.25 and $5.33 to hold 5,000 shares.

— Silver Standard Resources (SSO-V) — Kenneth McNaughton, officer, sold 17,200 shares at prices ranging from $21.50 to $22.25 to hold 30,500 shares; Ross Mitchell, officer, exercised an option to buy 5,000 shares at $3.01 and sold 5,000 shares at prices of $17.07 and $22.46 to hold 7,800 shares and options for 114,700 shares; Robert Quartermain, director and officer, exercised an option to buy 20,000 shares at $3.01 and sold 20,000 shares at prices ranging from $16.46 to $22.63 to hold 230,000 shares and 470,000 options.

— Taseko Mines (TKO-V) — Jeffrey Mason, director and officer, exercised an option to buy 240,000 shares and sold 240,000 shares at $2.83 to hold 85,300 shares and 280,000 options.

— Teck Cominco (TEK-T) — Caisse de dpt et placement du Qubec, 10% security holder, bought 1.4 million Class B shares at prices ranging from $23.06 to $24.19 to hold 3.1 million shares and acquired 750 options at 75 to hold 800 options.

— Western Silver (WTC-T) — Robert Gayton, officer, exercised an option to buy 10,000 shares at $1 and sold 10,000 shares at $8.25 to hold 15,000 shares and 147,000 options; Peter Page, director and officer, exercised an option to buy 10,000 shares at $3.15 and sold 10,000 shares at prices ranging from $10.47 to $10.50 to hold no shares and 50,000 options; Thomas Patton, director or officer of 10% security holder, exercised an option to buy 200,000 shares at $1 and sold 64,000 shares at prices ranging from $7.36 to $9.52 to hold 317,000 shares and 100,000 options.

— WGI Heavy Minerals (WG-T) — Ian Falconer, director, sold 170,500 shares at prices ranging from $9.90 to $10.75 to hold 381,950 shares; Kitson Vincent, director, sold 172,000 shares at prices ranging from $8 to $10.25 to hold 42,225 shares.

— Wheaton River Minerals (WRM-T) — Frank Giustra, director, exercised warrants and sold 136,200 shares at prices from $4.50 to $4.60 to hold 2.8 million shares and 300,000 warrants.

— Wolfden Resources (WLF-T) — John Pollock, director, exercised an option to buy 20,000 shares at $2.71 and sold 20,600 shares at prices from $5.74 to $6 to hold 8,300 shares and 70,000 options.