Former VSM Exploration (TSE) director Gilles Tremblay recently sold a considerable portion of his holdings in the 53.9% owned affiliate of gold miner Placer Dome (TSE).
According to the Ontario Securities Commission’s Insider Trading Bulletin, Tremblay sold 21,500 shares throughout May for $1-1.10 to hold 10,525. The shares were sold just before Placer Dome completed a private placement of 1.4 million shares at $1.07 to increase its holdings to 11.4 million shares.
The 21.2 million issued shares of VSM, an exploration company with interests in the Quevillon-Desmaraisville, Que., region, traded recently at 94 cents in a 52-week range of 87 cents and $1.33. After resigning as a director to make way for nominees of Placer Dome, Tremblay acts as a consultant to VSM.
Other mining insiders who were active in the stock market recently include:
Aber Resources (TSE) director Keith Christofferson was granted the right to purchase 20,000 options for 80 cents to hold 40,000 options.
Arimathaea Resources (TSE) director Graham Lacey, who owns more than 10%, bought 635,000 shares for 48-65 cents to hold the same number.
Freewest Resources (TSE) director George Bryson exer-cised an option on 30,000 shares at $2.45 before selling all of the shares for $3.26 to hold 80,000.
Gowest Amalgamated Resources (ASE) ex-director John Pollock bought 42,500 shares indirectly for 20-40 cents and sold 243,500 for 25 cents to hold 217,000.
Inco’s (TSE) deemed insider Dyer Wadsworth exercised an option on 3,000 shares at US$30 before selling the shares for US$32.50 to hold 227.
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