Vancouver-based Cominco (TSE) recently took the opportunity to pick up some Aur Resources’ (TSE) shares. According to the Ontario Securities Commission’s OSC Bulletin, Cominco bought 150,000 Aur shares on the open market at prices of $3.90-4.60.
An additional 2.2 million shares acquired under the Aur stock split plus 51,533 picked up through the exercising of rights brings Cominco’s stake in Aur to just over 4.5 million shares. As of Sept. 30, when the purchase was completed, Cominco and affiliate Teck (TSE) held 9.1 million of Aur’s issued and outstanding shares representing a 21% interest.
The majority of the shares, purchased by Cominco, were acquired in September before Aur announced plans for a $4.6-million exploration program at the Louvicourt Twp. massive sulphide project east of Val d’Or, Que.
The program is expected to include infill drilling on a massive sulphide deposit, estimated to contain 36 million tons of grade 3.11% copper, 1.34% zinc, 0.55 oz. silver and 0.03 oz. gold per ton to a depth of 2,700 ft.
Other mining insiders who were active in the stock market recently include:
Audrey Resources (TSE) Vice- President Michel Bouchard, who bought 62,000 shares for an undisclosed price before selling 76,200 for $2.85-3.40. He also bought 35,000 shares for $2.95-2.90 to hold 258,239.
Borealis Exploration’s (ASE) director Asher Turin bought 10,000 shares for $2.10 before selling all of them for $2.10 to hold 1,800. Turin has been granted the option to purchase an additional 9,000.
Dundee-Palliser Resources’ (TSE) affiliate MVP Capital (TSE) purchased 64,500 shares for 43-49 cents to hold almost 6.1 million.
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