Golden Star Resources (TSE) insider Robert Friedland is poised to profit from a rally that has pushed the junior’s share price to a 52-week high of $4.40 recently.
In two private transactions executed in July, the director bought 193,077 shares at $3.60 and 50,000 shares at $1.66. He later sold 105,498 shares at $3.29 to hold 146,002.
Golden Star has a 35% interest in the Omai gold mine in Guyana, where preparations for a January, 1993, startup are reportedly ahead of schedule. The mine is expected to produce 250,000 oz. gold per year in the first three years of operation.
The company also has a stake in a number of gold and diamond exploration projects in Guyana and Suriname, and recently raised $6 million to finance exploration.
Other insider trades completed recently include:
American Barrick Resources (TSE) chief financial officer Gregory Wilkins exercised an option to sell 20,000 shares at $34.25-34.75 to hold 230,000. BMR Gold (TSE) President Frank Varsefeld bought 300,000 shares at 43-63 cents and sold 100,765 shares at 45-73 cents to hold 255,325.
Cominco (TSE) comptroller Andrew Miller exercised an option to buy 1,000 shares at $17.32 and sold 1,000 shares at $22.87 to hold 283. Deak Resources (TSE) director Frank Smeenk sold 36,000 shares at 20-25 cents to hold 360,948. Finance Vice-President Gerald Towers sold 15,000 shares at 23-31 cents to hold 822,129.
Franco-Nevada Mining (TSE) officer Robert Luba exercised an option to buy 50,000 shares at 50 cents and exercised an option to buy 455,000 shares at 56 cents to hold 609,497. Executive Vice-President Ross McGroarty sold 427,431 shares at 58 cents and exercised an option to buy 455,000 shares at 56 cents to hold 455,000.
Prime Equities (VSE) Chairman Murray Pezim bought 49,000 shares at $0.93-4.20 and sold 4,700 shares at $2.25-3.15 to hold 583,268.
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