American Barrick Resources (TSE) may have dropped its plan to merge with Newmont Mining (NYSE) of Denver, but executives within the Toronto company continue to make money in the stock market.
According to the Ontario Securities Commission OSC Bulletin, Louis Dionne, vice-president Canadian operations, exercised his rights on 16,000 options for $13 which he then sold for $17 to hold none.
Treasurer Randall Oliphant sold 9,900 shares for $27 after exercising 10,000 options at $13 to hold 100 shares and 40,000 options. Vice-President William Robertson exercised 40,000 options at $13 before selling 20,000 shares for US$23.50-27 to hold 60,800 options. Robertson’s daughter Jennifer also holds 88 shares.
As the Barrick options expired at the end of July the executives were forced to exercise or lose their options.
Other mining insiders who were active in the stock market recently include: Borealis Exploration (ASE) director Chana Cox, who sold 8,900 shares for $2.30-3.50 to hold 148,392.
Consolidated Brinco (TSE) officer John Lecky bought 172,885 Class A shares indirectly for $1.22 to hold 700,520.
Deak Resources (TSE) officer (of affiliate) Frank Smeenk sold 50,500 shares to hold 207,490 directly.
Hemlo Gold Mines (TSE) President Ian Bayer received 50,000 shares at $9 to hold the same number.
Inco (TSE) deemed insider Edward Burrell exercised an option to purchase 8,000 shares for US$30 which he then sold for US$37.13-37.63 to hold 1,142.
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