INSIDER TRADING Spirit Lake director active market player

As Spirit Lake Explorations (ME) continues to explore a small high grade gold deposit northeast of Wawa, Ont., director William Chymyck has been active in the stock market. According to the Ontario Securities Commission’s OSC Bulletin, Chymyck bought 9,000 shares in May at prices ranging from 70 cents to $1.10. During the same period, he also sold 16,500 shares for between 75 cents and $1.15 to hold 90,100 shares directly.

Spirit Lake is attempting to outline enough reserves within two gold-bearing vein systems at its Edwards property to support a small mining operation.

The company’s former President John Hansuld told The Northern Miner recently that 500,000 tons of 0.5 oz. gold per ton would be a realistic target. A reserve estimate is expected to be released soon.

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

American Barrick Resources’ (TSE) former chief financial officer Jerry Garbutt, who sold 25,000 shares for $19.75-20.25 to hold 103,400.

Bema Gold (TSE) chief financial officer Richard Barclay exercised an option to purchase 50,000 shares for $1. He also sold short 1,000 shares for $2.39 to hold 650,985.

Vice-President Gary Nordin sold 7,000 shares for $2.40 to hold 535,483.

Borealis Exploration (ASE) Chairman Rodney Cox bought 44,300 shares for $1.50. He also sold 39,200 shares for an undisclosed price to hold 64,341 shares directly.

Cominco (TSE) affiliate Teck Corp. bought 15,000 shares for $23,875 to hold 5,539,961.

Continental Gold (VSE) director David Copeland sold 3,700 shares for $14.78-15.12 to hold 37,653.

Golden Star Resources (TSE) Vice-President James Stewart sold 130,000 shares for $1 to hold 482,800.