INSIDER TRADING (January 06, 1992)

A number of Sherritt Gordon (TSE) insiders including Curragh Resources (TSE) were actively buying and selling shares of the Toronto-based nickel refiner and fertilizer producer.

According to the Ontario Securities Commission OSC Bulletin, Curragh Resources sold 2.4 million shares for $7.25 to close out its holdings. Chairman Ian Delany and President Bruce Walter each bought 87,500 shares for $7.55 to hold 787,500 each. The Ontario Municipal Employees Retirement Board, which holds over 10%, bought 9,000 shares for $7.79 to hold 3.9 million. Sherritt Gordon’s 30.3 million issued shares were trading recently at $7.50 in a 52-week range of $5.75-8.38.

Other mining insiders who were active in the stock market recently include: Aber Resources (TSE) President David Thomas sold 300,000 shares privately for 25 cents to hold 33,897.

American Barrick Resources (TSE) Vice-President John Lil exercised an option to buy 5,000 shares at $15.06 before selling all of them for $29.12 to hold 2,500 shares and 80,000 options. Vice-Chairman Angus McNaughton sold 25,000 shares for $26-25.78 to hold none. Operations controller Daniel McConvey exercised on 5,000 shares at $15.06 and sold the same number for $28 to hold no shares and 35,000 options. President Robert Smith exercised on 200,000 shares at $14.25 and sold all of them for $27.37-28.37 to hold 7,680. Arimathaea Resources (TSE) Chairman Graham Lacey sold 25,000 shares privately for $1.70 to hold 641,300.

Atlanta Gold (TSE) director Olaf Tolpinrud sold 29,100 shares for 95 cents-$1 to hold 119,441.