INSIDER TRADING (November 11, 1991)

Claude Resources’ (TSE) controlling shareholder BEC International recently reduced its interest in the Saskatoon company at a significant discount to the recent market price.

According to the Ontario Securities Commission OSC Bulletin, BEC sold 20,600 shares in October for $2.41-2.45 to cut its interest to 3.4 million. That was before the stock reached a high of $3.20 on news that Claude is on the verge of hatching only the fourth underground gold producer in Saskatchewan history. BEC is a holding company controlled by Claude Chairman William MacNeill.

Other mining insiders who were active in the stock market recently include: American Barrick Resources (TSE) Chairman Peter Munk sold 787,900 shares for $27.25-28.12 to hold 1.2 million directly. Munk’s company Horsham Securities also holds 2.8 million shares and one million options.

Freewest Resources (TSE) affiliate Hemlo Gold Mines, which owns more than 10%, bought 6,910 shares privately for $4 to hold 1.2 million. Geddes Resources (TSE) director Geddes Webster sold 28,500 shares for 69-72 cents to hold 314,600.

Goldcorp (TSE) affiliate CSA Management, which owns more than 10%, bought 183,500 shares for $3.15-3.29 to hold 2.3 million.

Golden Rule Resources (TSE) Vice-President Larry Lahusen sold 104,500 shares for 58 cents to hold 326,859.

Hemlo Gold Mines (TSE) director Frank Lang sold 6,000 shares for $9.12-9.37 to hold 63,485 directly and 117,936 indirectly.

International Mahogany (TSE) affiliate Ingot Capital, which owns more than 10%, sold 26,000 class B shares for 61-73 cents to hold 125,407. Joutel Resources (TSE) affiliate Landmark Corp., which owns more than 10%, sold 723,000 subordinate voting shares held by subsidiary Dominion Explorers (TSE) for 7-10 cents to hold 6.9 million.