INSIDER TRADING — Officers of Echo Bay exercise options, trade stock

Four senior officers of Echo Bay Mines (TSE) exercised options and either bought or sold shares in the company in October.

According to the Ontario Securities Commission’s OSC Bulletin, Jonathan Baker, senior officer, bought 2,500 shares at US$9.75 to hold 74,500 shares. Allan Broughton, senior officer, exercised options and bought 12,000 shares at $8.50 and sold 12,000 shares at US$10.00 to hold 22,097 shares and 133,088 options. Robert Calman, director and senior officer, exercised options and bought 10,000 shares and later sold 15,589 shares; both transactions were at an undisclosed price. Calman holds 117,188 shares and 694,483 options. Other transactions reported since September include:

* Consolidated Ramrod Gold (TSE) — Owen Granger, director and senior officer, sold 16,000 shares at $2.65 to hold 17,378 shares.

* Gibralter Mines (TSE) — Robert Matthews, director, exercised options and acquired 5,000 shares at $5 and sold 2,500 shares at $7.75 to hold 2,500 shares and 10,000 options.

* Inter-Rock Gold (ME) — David Crombie, director and senior officer, who holds more than 10% of the corporation, sold 21,400 shares at 94 cents-$1.05 to hold 5 million shares.

* Joutel Resources (TSE) — Hugh Harbinson, director and senior officer, sold 54,500 shares at 25 cents to hold 1.4 million shares.

* Kinross Gold (TSE) — Arthur Ditto, director and senior officer, acquired 437 shares at $11.28 and 655 shares at US$8.24, in addition to exercising options to acquire 180,000 shares at 67 cents. He also sold 180,000 shares at $11.13-$11.50 to hold 650,712 shares and 160,000 options.

* Madsen Gold (TSE) — James Morlock, director and senior officer who owns more than 10% of the corporation, sold 41,400 shares at $1.15-$1.95 to hold 2.1 million shares.

* Orvana Minerals (TSE) — Peter Bradshaw, senior officer, sold 5,000 shares at $4.75-$4.80 to hold 70,333 shares. Douglas Hillhouse, senior officer, sold 12,649 shares at $4.75 to hold 147,468 shares.

* South African Minerals (TSE) — Wayne O’Connor, director and senior officer, sold 31,000 shares at $1.75-$1.90 and acquired 50,000 shares at an undisclosed price to hold 286,816 shares. He was granted 50,000 options at $1.65 to hold 267,816 options.