INSIDER TRADING — Tyler insider takes profits

Canada’s diamond exploration play has helped line the pockets of not only speculators, but also those who hold options on the associated penny stocks.

Frederick Wynne, a director of Tyler Resources (TSE), is an example of the latter. According to the Ontario Securities Commission’s OSC Bulletin, Wynne exercised 135,000 options at 28 cents in mid-March and sold 163,000 shares at 89 cents-$1.20 for net proceeds of $134,199. He still holds 415,000 options. Tyler started drilling for kimberlites on its Crystal property in the Northwest Territories at the end of March, but is keeping mum about its results until the 10-12 hole program is complete.

Other transactions completed since the end of January include: Aber Resources (TSE) — Christopher Jennings, director, sold 35,000 at $2.45-2.50 to hold 181,000.

Echo Bay Mines (TSE) — Robert Armstrong, officer, bought 2,000 at US$5.75 to hold 3,000. Robert Calman, officer, bought 2,000 at US$5.75 to hold 169,931. Equinox Resources (TSE) — John Wright, director, sold 8,000 at $2.04 and bought 2,000 at $1.95 to hold 33,800.

Etruscan Enterprises (VSE) — Angus MacIsaac, officer, sold 9,000 at $1.70-1.90 to hold 357,300 directly and 11,000 indirectly.

Joutel Resources (TSE) — Roderick Chisholm, officer, exercised 44,000 options at 13 cents and sold 44,000 shares at 33.5 cents to hold none. Charles Page, officer, sold 60,000 at 42.5 cents to hold 2.05 million. Pegasus Gold (TSE) — John Azlant, officer, bought 50,000 at US$9.88-15.50 and sold 25,000 at US$15.37-15.50 to hold none. He holds 47,600 options. Pure Gold Resources (TSE) — Robert Murray, director, bought 370,000 at 30 cents to hold 2.44 million.