INSIDER TRADING Kaiser has faith in Madeleine bet

Oklahoma oilman George Kaiser continues to show confidence in the prospects for Toronto-based Madeleine Mines (TSE). The chairman of Kaiser Francis Oil Co., who already owns more than 10% of Madeleine, recently purchased 50,400 shares at prices of $4.50-6.375. Completed during September, the transactions increased his holdings to 1,173,180 shares.

Since then, a substantial drop in platinum prices combined with uncertainty over the company’s Lac des Iles palladium/platinum project near Thunder Bay, Ont., has reduced the Madeleine issue to $3.85. The shares, this year, have traded in a range of $3.80-9.88.

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

Aur Resources (TSE) Secretary Peter McCarter, who exercised an option on 25,000 shares at $1.45 before selling them all for $4.55. He still holds 34,315 shares. Teck (TSE), which together with Cominco (TSE) owns 21.6% of Aur, recently purchased 210,533 shares for $4.17-4.55 to hold 4.6 million. Teck bought 51,533 of those shares via a private sale.

Bema Gold (TSE) director Irwin Haas was granted 60,000 options at $4.20 to hold 60,000.

Golden Hope Mines (TSE) affiliate Wamo Holdings, which beneficially owns more than 10% of Golden Hope, sold 60,000 shares for between 90 cents and $1.25 to hold 1.3 million shares.

Goldex Mines’ (TSE) affiliate Agnico-Eagle Mines (TSE) bought 231,900 shares of Goldex for $2.60-2.75 to hold 3.4 million.