Insider Trading MSV executives buy before Grevet find

Two key MSV Resources (ME) executives have been positioning themselves to take advantage of any new developments at the Grevet base metal property, 40 km northeast of Quevillon, Que. MSV owns a 12.6% stake in VSM Exploration (ME) which in turn owns a half interest in Grevet project where potential for a reserve increase has been achieved by the discovery of a new zinc zone. Serem-Quebec holds the other 50% interest.

Back in May, before the new discovery was announced, President Mario Caron and director Pierre Boudreault each bought 150,000 MSV shares for 35 cents, according to a recent issue of Ontario Securities Commission’s OSC Bulletin. Indirectly, they each hold 150,000 MSV shares which closed recently at 30 cents in a 52-week range of 20-80 cents.

At about the same time, Northgate Exploration (TSE) reduced its holdings in MSV by selling 300,000 shares for 35 cents to hold 5.2 million.

Other mining insiders active in the stock market recently include:

Bema Gold (TSE) Chairman Ian Johnson who sold 8,300 shares for $2.60-2.95 to hold 420,750.

Continental Gold (VSE) Chairman George Hunter bought 154,000 shares for $8.50-11.18 to hold 951,035.

Coral Gold (TSE) former president Louis Wolfin sold 36,700 shares for $1.04-1.10 to hold 1.7 million. Through private company Frobisher Securities, he also sold 8,500 shares for $1.05 to hold 71,300 indirectly.

Goldbelt Mines (VSE) President Douglas McRae bought 5,000 shares for 96 cents through Macrim Investment Corp. He also sold 28,000 shares for between 87 cents and $1.07 to hold 6,070 indirectly.

Goldnev Resources (VSE) director Arthur Clemiss bought 100,000 shares for $1.25 which he then sold for $1.20-1.50 to hold none.