INSIDER TRADING (January 20, 1992)

Royal Oak Mines (TSE) director George Oughtred recently added to his holdings in the Vancouver-based gold producer.

According to the Ontario Securities Commission OSC Bulletin, Oughtred bought 54,610 shares indirectly for $1.30 to hold 931,277. The shares were acquired via a private transaction and placed in a holding company. Since the transaction was completed in mid-December, Royal Oak shares have risen to a high of $1.82 from a low of 68 cents.

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 160,700 at an undisclosed price to hold 2.9 million. American Barrick Resources (TSE) officer Louis Dionne exercised an option on 9,200 shares at $12.75 and 25,000 at $15.06 before selling all of them for $30.12 to hold no shares and 54,800 options. Officer Kenneth Thomas exercised on 10,000 shares at $15.06. He then sold the shares for $30.12 to hold 3,200 shares and 75,000 options. Thomas also bought 500 shares for his wife at $30.12.

Biron Bay Resources (ASE) director Leonard Taylor sold 175,500 shares for 90 cents-$1 to hold 558,929 directly. He also holds 314,996 shares indirectly in a numbered company after purchasing 61,154.

Cathedral Gold (TSE) officer Richard Jones bought 50,000 shares for 50 cents to hold 60,250.

Noramco Mining (TSE) Chairman Bruce McDonald bought 69,000 shares through B-Mac Trading to hold 2.2 million. Noramco Capital, a company controlled by McDonald, also bought 997,980 shares and an identical number of warrants for 30 cents to hold 2.3 million shares and 997,980 warrants.