The major shareholder of Richmont Mines (TSE) recently took advantage of the junior’s market strength to sell some equity.
According to the Ontario Securities Commission’s OSC Bulletin, Caledonia Mining sold 207,800 shares at $1.08-1.24 in October to hold 1.1 million. Richmont recently traded at $1.30 in a 52-week range of 50 cents-$1.45. The junior, which has initiated a share buyback program for up to 590,900 shares, reported a net profit of $1.4 million (12 cents per share) for the nine months ended Sept. 30, compared with a loss of $620,850 last year. Gold output at its Francoeur mine, which began commercial production in October, 1991, topped 14,000 oz.
Other transactions completed recently include:
Athabaska Gold Resources (TSE) — James Kermeen, president, sold 200,000 shares at 17-18 cents and exercised 170,411 warrants at 20 cents to hold 1.15 million shares and 279,589 warrants.
Garden Lake Resources (VSE) — Donald Rankin, president, bought 600,000 shares privately at 23 cents to hold 714,501 directly and 25,000 indirectly. Green Line Business Stores (CDN) — Patrick Finlan, officer and holder of more than 10%, bought 12,000 at 13 cents and sold 163,000 at 16-20 cents to hold 2.8 million directly and 382,200 indirectly.
Holmer Gold Mines (ASE) — Kasi Raman, president, bought 365,500 at 10-30 cents and sold 595,000 at 16.5-20 cents to hold 169,699.
Kingswood Explorations (ASE) — Wayne O’Connor, president, bought 58,500 at 20-29.5 cents to hold 343,040.
Lytton Minerals (TSE) — William Christensen, holder of more than 10%, exercised 500,000 options at 7 cents and sold 400,000 at 29-71 cents to hold 2.1 million.
Peat Resources (CDN) — La Prairie Ltd., holder of more than 10%, sold 72,000 privately at 20 cents to hold 1.58 million.
Pure Gold Resources — Robert Murray, director, bought one million at 10 cents and sold 949,000 at 10 cents to hold 51,000.
Western Copper Holdings — Teck Corp., holder of more than 10%, sold 160,000 privately for $1.05-1.40 to hold 1.23 million.
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