INSIDER TRADING (December 09, 1991)

TVX Gold directors Fernando Cabral Silva and Nigel Lees took the opportunity recently to reduce their holdings in the Toronto-based company.

According to the Ontario Securities Commission OSC Bulletin, Cabral Silva sold 200,000 shares privately for $4.25 to hold 216,666 indirectly through Balmes Investments. Lees also sold 120,500 shares for $4.30-4.40 to hold 295,867 through assorted holding firms.

Shares of TVX traded recently at $3.95 in a 52-week range of $3.05-$5. Other mining insiders who were active in the stock market recently include: American Barrick Resources (TSE) Chairman Peter Munk sold 652,500 shares for $28.25 to close out his direct holdings. He also owns 2.8 million through Horsham Securities.

Bema Gold (TSE) director Richard Barclay sold 13,000 shares held indirectly for $1.85-2.10 to hold 253,204 through various holding companies. Director Michael Beley also sold 5,000 shares for $1.93 to hold 349,824 indirectly. BMR Gold (TSE) President Frank Varseveld bought 102,000 shares for 85 cents-$1.05 and sold 100,000 for $1.05 to hold 148,090. Senior Vice-President Milton Zink exercised an option on 16,400 shares at 80 cents. He also bought 50,000 warrants plus 54,500 shares for 84 cents-1.05 and sold 55,000 shares for 94 cents-$1.04 to hold 146,700 shares and 131,600 options. Dayton Mining (TSE) director Thomas Hawkins exercised on 45,000 shares at 72 cents to hold 97,500.

Minera Rayrock (TSE) director Bruce Semple bought 21,000 for 61-70 cents and sold 5,000 indirectly for 70 cents to hold 363,105.

Platinova Resources director David Thomas sold 54,000 shares for 65-70 cents to hold 2.2 million.