Keevil purchases shares of Aur (April 06, 1992)

Teck (TSE) Chairman Norman Keevil recently proved himself a believer in Aur Resources (TSE) by investing $25,000 in shares of the 21%-owned affiliate of Teck and Cominco (TSE).

According to the Ontario Securities Commission’s OSC Bulletin, Keevil bought 10,000 shares in February for $2.50 each through MGC Investments Ltd. to hold the same number.

The Aur issue has since fallen below $2. Teck is earning a 25% stake in Aur’s Louvicourt Twp. massive sulphide project in Quebec by contributing $55 million towards the first $100 million spent on mine development. Teck owns 10% of Aur, whose stock peaked this year at $4.20.

Other mining insiders who were active in the stock market recently include Aber Resources (TSE) President Grenville Thomas, who sold 100,000 shares for $1.06-1.09 after exercising 300,000 warrants at 60 cents to hold 503,897 shares.

American Barrick Resources (TSE) director Jerry Garbutt exercised an option on 200,000 shares at $14.25 before selling 250,000 for US$27.12-27.27 to hold none. Director Angus MacNaughton sold 20,000 shares for US$28.21-27.30 to hold 80,000.

Champion Gold Resources (ASE) President Larry Melnick sold 5,000 shares for 80-81 cents to hold 1.8 million directly. He also sold 8,500 shares held by holding company Titan Empire for 82-85 cents to hold 126,840 indirectly. Fort Knox Gold Resources (TSE) director Donald Ross sold 29,500 shares for $1.24-1.32. He also exercised an option on 29,500 shares at $1.15 and bought an additional 4,100 for $1-1.03 to hold 99,400. Officer Wayne Wymark sold 8,000 for $1.42-1.38. He exercised an option on 2,500 at 22 cents.