Insider Trading Pezim sells stake in Prime, Tymar

About a month before signing a financing deal with Teck (TSE), Vancouver promoter Murray Pezim sold a substantial portion of his holdings in Prime Equities (VSE) and Tymar Resources (TSE).

In mid-March, according to the Ontario Securities Commission’s OSC Bulletin, Pezim sold 425,000 shares of Prime at $1 to reduce his holdings to 2.3 million shares. Within a week of that transaction, Pezim sold 124,500 shares of Tymar for 50-52 cents to hold 25,500. He also sold 200,000 warrants for 9-11 cents to hold none.

In return for purchasing four million Prime Equities shares for $1.25 each, and six million warrants, Teck has the right to acquire a 50% stake in any property interest held by Prime Equities. The deal requires Teck, which has also signed an earn-in agreement with Tymar, to fund the property to production.

The transaction reduces Pezim’s personal exposure to any new developments on dozens of exploration projects scattered across the country.

But since Prime Equities and Tymar aren’t involved in the Eskay Creek, B.C., gold discovery, the transaction doesn’t affect Pezim’s exposure to that project.

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

BMR Gold (ASE) director Milton Zink sold 17,500 shares for $1.25 to hold 210,300.

Deak Resources (TSE) officer Frank Smeenk (at affiliate Deak International) exercised an option to purchase 100,000 shares at 20 cents to hold 148,440. Officer Andrew Taylor also exercised an option on 15,000 shares at 20 cents before selling 27,000 at 53 cents to hold none.

Euro-Nevada Mining (TSE) director Jack McOuat exercised an option on 7,500 shares at $3.70 which he then sold for $12.75 to hold none. He still holds 25,000 options. Freewest Resources (TSE) director Robert Buttars bought 30,000 shares for $2.62 and sold 32,000 for $4.03 to hold 2,000.

Galactic Resources (TSE) insider Samye Buckner was granted the right to purchase 70,000 options for $1.30 to hold 70,000 options.

Greenstone Resources (TSE) President Ian Park bought 3,558 shares for $2.05 and sold 4,700 at the same price to hold 418,183.

High River Gold Mines (TSE) director David Mosher sold 110,000 shares for 32 cents to hold 86,666. He also holds 292,165 shares indirectly.

Inco (TSE) insider Edward Burrell exercised an option on 2,000 shares at US$23.19 before selling all of them for US$32 to hold 1,127.

International Mahogany (TSE) director Nick Demare was granted the right to purchase 70,000 options at 45 cents to hold 70,000. Officer Harvey Lim was also granted 45,000 options for an undisclosed price to hold 45,000 options.

Jonpol Explorations (TSE) President John Pollock bought 150,000 shares privately for 50 cents. He also sold 240,000 shares for 33-50 cents to hold 666,093 indirectly. He holds 200,000 shares in an RRSP.

Societe Miniere Louvem (TSE) affiliate St. Genevieve Resources (TSE), which beneficially owns more than 10% of the company’s shares, bought 4,500 shares for $5.53. It also sold one million shares privately for $5.98 to hold 8.1 million.

Malartic Hygrade Gold Mines (VSE) President Marc Henderson bought 13,000 shares for US$2.07-2.63 to hold 26,000. He also bought 5,000 warrants privately for US$2.07 to hold 5,000 warrants.

Teck (TSE) Vice-President and director Brian Keevil sold 9,900 Class B subordinated voting shares for $21.63-22 to hold 36,600 shares directly and 85,000 B shares indirectly.