INSIDER TRADING (October 14, 1991)

The rising price of Redstone Resources (TSE) shares recently gave President David Harquail, the chance to liquidate a portion of his holdings in the Toronto-based royalty company.

According to Ontario Securities Commission’s OSC Bulletin, Harquail sold 37,600 shares in September for $2.40 to hold 244,625.

Increased revenues from Redstone’s 2.2% royalty interest in Falconbridge’s (TSE) Falcondo nickel operation in the Dominican Republic have pushed the stock up to $2.45, just below a 52-week high of $2.60.

Other mining insiders who were active in the stock market recently include: Arimathaea Resources (TSE) Chairman Graham Lacey who bought 6,200 shares for $1.70-1.80 and sold 14,900 for $1.75-1.80 to hold 666,300. Director Irwin Singer also sold 4,500 shares for $1.50-1.60 to hold none.

Consolidated Brinco (TSE) director Aubrey Baillie sold 27,450 shares for $1.40-1.45 to hold 67,824 directly and 20,000 in an RRSP.

Consolidated Nevada Goldfields (TSE) Vice-President James Frank was granted the right to purchase 133,333 options for US83 to hold the same number. Faraday Resources (TSE) Vice-President William Barnett exercised an option on 75,000 shares at $3.45. Executive Vice-President Colin Coolican and Vice-President James Kalman also exercised on 100,000 shares at the same price. Kalman sold 15,000 at $3.80 to hold 85,000 directly and 8,000 in an RRSP. President John Lamacraft and Vice-President James Patterson also exercised on 150,000 and 50,000 shares respectively at $3.45.