INSIDER TRADING Kaiser active buyer of Madeleine issue

As development activity continues at Madeleine Mines’ (TSE) Lac des Iles palladium/platinum project near Thunder Bay, Ont., one of the company’s biggest shareholders has been buying the stock. According to the Ontario Securities Commission’s OSC Bulletin, George Kaiser, chairman and owner of Oklahoma-based Kaiser- Francis Oil Co., bought 75,800 Madeleine shares for $7.

Indirectly through Kaiser Oil, America’s fifth largest private natural gas producer, he also sold 16,200 shares for an undisclosed price, bringing his holdings to 1,261,980.

While the environmental permitting process may prevent Madeleine from mining its Lac des Iles deposit this year, President Patrick Sheridan has about 60 employees on site. Plant construction is reported to be nearing completion.

Largely because Lac des Iles could eventually be one of only three orebodies in the world to be mined primarily for its platinum group metals, investors in the U.S. are monitoring the company’s progress closely. Shares of Madeleine traded recently at $7.50 in a 52-week range of $9.88 and $2.85.

Other mining insiders who were active in the stock market recently include:

Jonpol Explorations (TSE) President John Pollock sold 264,090 shares for between 50 cents and 70 cents to hold none directly. However, he still holds 396,700 shares indirectly through J.P. Management, Jonpol Investments and an RRSP.

LAC Minerals (TSE) general counsel Carl Straub was granted the right to purchase 10,000 options for $12,125.

Louvem Mines (TSE) Chairman Pierre Gauthier was granted the option to purchase 40,000 shares for $2.52. He also sold 40,000 shares for $4.41 to hold none directly.

Redfern Resources (VSE) Co- Chairman George Fink sold 11,100 shares for between $3.75 and $4.15 to hold 53,800. Director Carl Jonsson exercised an option to purchase 20,000 shares for 65 cents. He also sold 2,000 for an undisclosed price to hold 18,000. Director Murray Pyke also sold 19,200 shares for between $3.70 and $4.05 to hold 52,800.

Redstone Resources (TSE) director Ed Godin bought 5,000 shares for $2.20 to hold 5,000.