The entire board of Toronto- based Black Hawk Mining (TSE) has been positioning itself to take advantage of any developments relating to the company’s U.S. and Canadian nickel projects. According to the Ontario Securities Commission’s OSC Bulletin, five directors including Chairman Gordon Bub and President Garry Hughes were granted options last month to buy Black Hawk shares at 90 cents.
Bub was granted options on 150,000 shares while Hughes can purchase 60,000. Directors Thomas Komlos, Robert Buchan and Gord Leslie can each buy 35,000, 50,000 and 40,000 shares respectively.
A 54.5% owned affiliate of Toronto-based DCC Equities, Black Hawk was recently seeking a partner to develop its Minago nickel project south of Thompson, Man. With reserves standing at 17.8 million tons of grade 1.28% nickel, the company is planning to conduct more drilling at Minago beginning in September.
A final feasibility study has also been planned for Black Hawk’s Union nickel-copper deposit in Maine where reserves minable by underground and open pit methods stand at about three million tons of 1.5% nickel per ton. Black Hawk shares traded recently at 70 cents.
Other mining insiders who were active in the stock market recently include:
High River Gold Mines (TSE) affiliate Inco (TSE) bought 995,985 flow-through shares, pursuant to the exercise of the same number of flow-through warrants to hold 5,395,985. The warrants were exercised at $1.57 each.
Jonpol Exploration (TSE) affiliate T & H Resources (TSE) bought 27,000 shares for 38-51 cents before selling 184,000 shares for 50-51 cents to hold 1,987,766.
Viceroy Resources (TSE) director Bernard Brynelsen sold 12,800 shares for $4.10-4.15 to hold 63,501.
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