MINING MARKET & INVESTMENT NEWS — INSIDER TRADING — Noranda boosts Falco stake

Reports by the Ontario Securities Commission show that Noranda (NOR-T) bought a large number of shares in Falconbridge (FL-T) during August.

The company, which now owns more than 10% of Falconbridge, bought 1.6 million shares at $14.10-16.00 in three separate transactions to hold 8.73 million shares. As well, Falco director Alex Balogh bought 1,000 shares at $17.30 to hold 1,000 shares, while Paul Severin, an officer, bought 139 shares indirectly at $17.75 to hold 868 shares.

Other transactions reported in the commission’s OSC Bulletin include the following:

* Black Hawk Mining (BHK-T) David Jenkins, director, was granted 175,000 options at 24 cents to hold 300,000, and James Hendry, officer, sold 10,000 shares at 34 cents and acquired 22,051 shares at 28 cents-37 cents through a plan, to hold 60,927 shares.

* McWatters Mining (MCW-T) — Patrick Bradley, officer, bought 34,200 shares at $1.47-1.70, sold 32,900 shares at $1.45-1.60 and acquired 3,000 warrants at 25 cents to hold 420,125 shares and 7,500 warrants; Claire Derome, director, bought 37,500 shares at $1.50-1.80 and sold 15,200 shares at $1.40 to hold 323,941 shares; and Derco Gestion Conseil Inc., which is represented on the board of directors, bought 41,700 shares indirectly at $1.55-1.75 to hold 178,067 shares.

* TVX Gold (TVX-T) — Ross Brown, officer, bought 1,000 shares at $2.76 to hold 3,000 shares; Flavio Godinhol, officer, let expire 5,000 options priced at $4.75 to hold 610,000 options; John Hick, director, let expire 300,000 options priced at $4.75 to hold 880,000 options; Alan Broughton, officer, bought 4,000 shares at $2.77 and another 4,500 shares at US$1.81, and acquired 10,000 notes at US$69.50, to hold 8,500 shares and 10,000 notes; and Judith Faintuck, officer, was granted 60,000 options at $4.15 to hold 60,000.