Insider Trading Gairdner sells Arimetco shares

Arimetco International (TSE) director John Gairdner recently missed an opportunity to cash on the Arizona company’s copper sales agreement with metals trader Billiton Minerals. The deal drove Arimetco’s 17.7 million issued shares to $3.35 on active trading, compared with the low of $1. Last month, according to the Ontario Securities Commission’s OSC Bulletin, Gairdner purchased 7,600 shares indirectly for $2-2.20 through Joronda Resources and sold 28,600 shares for $2.30-2.55 to hold 5,300. He also bought 6,000 warrants for 86 cents and sold 8,500 for 75 cents-$1 to hold none.

Arimetco has agreed to sell to Billiton 100% of the cathode copper produced at its Yerington and Johnson mines in Arizona for five years. The deal allows Arimetco to expand its daily operating capacity to 65,000 lb. from 20,000 lb. Gairdner, who is also a director of Arimetco affiliate Conwest Exploration (TSE), sold 27,000 Conwest Class B shares for $14-14.50 to hold 1,201 through Joronda. Gairdner holds an additional 191,953 Class B shares through other investment companies.

Other mining insiders who were active in the stock market recently include: American Barrick Resources (TSE) director Angus MacNaughton, who sold 20,000 shares for $20.375 to hold 50,000.

Card Lake Resources (CDN) President Paul Zyla exercised an option to purchase 120,000 shares for 30 cents to hold 1.2 million.

Central Crude (TSE) President Richard Nemis, bought 6,500 shares for $1.95-2.25 to hold 328,981.

Dayton Developments (VSE) director Thomas Hawkins sold 5,000 shares for $1.843 to hold 52,500. He was also granted the right to buy 60,000 options for $1.26 to hold 60,000 options.

Faraday Resources (TSE) Vice-President (of Faraday’s second biggest shareholder Conwest Exploration) James Woods sold 1,000 series A preferred shares for $16.875 to hold none.

Hemlo Gold Mines (TSE) director Patrick MacCulloch bought 2,000 shares for $9 to hold 2,000.

Societe Miniere Louvem (TSE) affiliate St. Genevieve Resources (TSE) bought 316,700 shares for $5.54-3.87 and sold 300,000 for $4.20 to hold 9.1 million.

Metalore Resources (TSE) director Christopher Brown bought 1,400 shares for $6.50-7 and sold 900 for $7-7.50 to hold 5,913.

Timmins Nickel (TSE) director Michael Ross sold 218,000 shares for 85 cents-$1.10 to hold 867,250.

Wilanour Resources Vice-President Robert Fasken bought 7,500 shares for $1.95-2.10 and sold 34,400 for $2-2.10 to hold 315,781.