INSIDER TRADING (September 02, 1991)

A couple of Timmins Nickel (TSE) executives took the opportunity recently to cash in on the company’s high flying share price.

According to the Ontario Securities Commission OSC Bulletin, Chairman Charles Howard sold 150,000 shares last month for $1.25-1.26 to hold 437,000. At the same time, Vice-President Koos Schippers sold 25,000 shares for 89 cents-$1.12 to hold 211,705 shares directly and 1.1 million indirectly. Driven by a recent private placement and strong nickel prices, Timmins Nickel shares peaked in July at $1.40, compared with their 52-week low of 42 cents. More recently, as profit takers moved in, the issue slipped back to $1.13. Other mining insiders who were active in the stock market recently include: Aber Resources (TSE) director Thatcher Townsend sold 26,800 shares for 81 cents to $1.31 to hold 193,150.

Athabaska Gold Resources (TSE) director Edward Kennedy exercised on 50,000 shares and sold 100,000 privately for 15 cents to hold 150,000 options and 494,978.

Atlanta Gold (TSE) director Roy Ellerman sold 15,300 shares for $1.50-1.71 to hold 30,000.

Cameco (TSE) officer (of an affiliate which owns more than 10%) Patrick Keenan bought 9,000 shares for $12.50 to hold the same number. Deak Resources (TSE) affiliate MacDonald Mines Exploration (CDN), which owns more than 10%, sold 34,000 shares for 31 cents to hold one million. Queenston Mining (TSE) affiliate Joutel Resources (TSE), which owns more than 10%, bought 25,000 shares for 77-78 cents to hold three million.