INSIDER TRADING (March 30, 1992)

Stafford Kelley, president of Vancouver-based Habsburg Resources (VSE), was both a buyer and a seller recently as drill crews boosted reserves at the company’s Dome Mountain gold mine in British Columbia.

According to the Ontario Securities Commission OSC Bulletin, Kelley bought 286,500 shares in January for 65-70 cents and sold 56,700 shares for roughly the same price to hold 238,351 directly and 111,776 indirectly. Timmins Nickel (TSE) is earning a 60% stake in Dome Mountain by financing the 250-ton-per-day operation to commercial production. With about half a million tons of 0.35-0.52 oz. gold per ton outlined, Timmins says 80,000 tons of 0.41 oz. have been added to the project’s possible reserve inventory. Other mining insiders who were active in the stock market recently include: Agnico-Eagle Mines (TSE) affiliate Mentor Exploration (TSE), which owns more than 10%, bought 41,100 shares for $5-5.50 to hold 2.9 million. Champion Gold Resources (ASE) President Larry Melnick, who owns more than 10%, sold 23,500 shares for 77-85 cents to hold 1.8 million. Curragh Resources (TSE) officer Keith Spurr bought 5,000 subordinate shares for $3 to hold 6,000.

Societe Miniere Louvem (TSE) Executive Vice-President Jean Depatie exercised an option on 5,000 shares at $2.52 which he then sold for $3.40-3.45 to hold none.

South American Goldfields (TSE) director Robert Friedland sold one million shares held by Ivanhoe Capital for 20 cents to hold 7.5 million in Ivanhoe and 4 million in another holding company.