While senior executives at Noranda (TSE) continue to position the company to cope with the economic recession, Toronto-based Noranda was recently selling a portion of its position in Kerr Addison Mines (TSE). .TAccording to the Ontario Securities Commission’s OSC Bulletin, Noranda sold 500,000 Kerr Addison shares in late December for $14.97 to hold 8,497,807. Noranda still holds about 50% of Kerr Addison’s shares which traded recently at $15.13 in a 52week range of$14.38-20.75.
Kerr Addison’s chief assets include a 50.3% stake in Minnova (TSE) which in turn owns gold and base metal mines in Ontario, Quebec and British Columbia. Kerr Addison also has 44% of RFC Resource Finance (TSE), owner of the Pend Oreille zinc deposit in Washington. Kerr Addison recently placed its 30.5% stake (6.2 million shares) in Calgary-based oil and gas producer Anderson Exploration on the selling block. The asset is reported to be worth $100 million.
Other mining insiders who wereactive in the stock market recently include: Antelope Resources (VSE) President Dal Stuart Brynelsen, who acquired 51,500 shares in November for 15-21 cents. He also sold 106,000 shares in December for 9-13 cents.
Conwest Exploration (TSE) President John Lamacraft sold 25,000 class B shares for $13 to hold 25,000.
Echo Bay Mines (TSE) executive Vice-President Richard Kraus sold 5,000 shares for US$8.625 to hold 65,653.
Marshall Minerals (ASE) purchased 18,800 of its own shares for $1 to hold 509,600.
Manson Creek Resources (TSE) affiliate Golden Rule Resources (TSE) sold 86,000 shares privately for 18 cents each to hold 5,108,048.
Platinova Resources (TSE) affiliate Goldcorp Investments purchased 2,166,000 shares for $1.55 to hold 3,322,200.
PlexusResources (TSE) President Arthur Ditto sold 6,000 shares for $1.20 to hold 366,900.
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