Just a few weeks after Dayton Mining (TSE) agreed to vend a 25% interest in its wholly owned Andacollo gold project in Chile for $22.6 million, director Kamel Lazaar sold 20% of his stake in the Vancouver-based company.
According to the Ontario Securities Commission’s OSC Bulletin, Kamel sold 13,000 Dayton shares at $2.45 on Oct. 28 to hold 47,000.
Although the agreement is still subject to a due diligence review, Malaysia Mining has offered to purchase a quarter-interest in the Andacollo project and supply Dayton with a US$20-million line of credit to finance development. Andacollo is projected to produce 140,000 oz. gold annually at an average cost of US$165 per oz. using open-pit mining and heap-leach processing methods.
Other transactions completed recently include:
American Barrick Resources (TSE) — Isabel Mulligan, senior vice-president, sold 10,000 shares at $36.75 to hold none.
Aur Resources (TSE) — William Kennedy, director, sold 4,000 at $3 to hold none.
Freewest Resources (TSE) — Hemlo Gold Mines, holder of more than 10%, bought 87,819 shares privately at $2.11 to hold 1.6 million.
Gerle Gold (VSE) — William Wolodarsky, director and holder of more than 10%, exercised 60,000 options at 20 cents to hold 796,200.
Jordex Resources (TSE) — Brian Hinchcliffe, president, bought 27,500 shares at $1.22 and sold 150,000 shares privately at $1 to hold 1.03 million directly and 955,263 indirectly.
Plexus Resources (TSE) — Total Energold, holder of more than 10%, sold six million privately at 80 cents to hold none.
Richmont Mines (TSE) — Jean-Guy Rivard, director, exercised 100,000 options at 85 cents and bought 26,414 at $1.16-1.44 to hold 700,000 directly and 300,000 indirectly.
Tri Origin Exploration (TSE) — Robert Valliant, officer and director, was granted 60,000 options at 75 cents to hold 192,500.
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