INSIDER TRADING (February 25, 1991)

Two of Glamis Gold’s (TSE) senior executives recently took the opportunity to cash in on the company’s success. According to the Ontario Securities Commission’s OSC Bulletin, James Billingsley, Glamis’ secretary and director sold 25,000 shares in January for $3.283 per share to hold 75,000 directly.

Vice-president Steve Stillar also sold 12,500 shares for $3.306 each after he was granted an option to purchase 25,000 shares for $2.35. Stillar still holds 12,500 shares directly.

The transactions proved timely as Glamis shares have since fallen back to $2.55 compared to their 52-week high point of $3.45. They were pushed over the $3 mark by increased production from the Yellow Aster and Picacho mines in California.

Glamis says it expects its gold output to increase this year to 60,000 oz. from 40,000 oz. last year thanks to higher production from Yellow Aster and the development of the new Alto mine in northern California.

Other mining executives who were active in the stock market recently include: Aur Resources (TSE) affiliate Cominco (TSE), which owns more than 10% of the company’s stock, bought 50,000 shares for $3.35 to hold 4,591,533.

Conwest Exploration (TSE) officer and director Colin Coolican sold 5,000 class B shares for $12.50 to hold 63,687 directly. He also holds 4,752 in an RRSP.

Dayton Developments (TSE) officer Rex Outzen was granted the right to purchase 80,000 options at $1.80 to hold 100,000 options. He already holds 14,500 shares directly.

Euro-Nevada Mining (TSE) President Pierre Lassonde sold 7,000 shares for $11.18 to hold 759,420 directly. He also holds 23,524 in an RRSP.

Golden Knight Resources (TSE) director David Thompson was granted 20,000 options at $8.75 which he then exercised at $11.25 to hold none.

Granges Inc.’s (TSE) major shareholder M.I.M. (Canada) Inc. bought 112,800 Granges shares for $1.533 to hold 12,658,000.

Northgate Exploration (TSE) affiliate Westfield Minerals (TSE), which beneficially owns more than 10% of the comany’s shares, bought 1.4 million Northgate shares for $1.25 each to hold 3.5 million. Redfern Resources (TSE) director Carl Jonsson was granted 20,000 options at $3.90 to hold the same number of options.