INSIDER TRADING (October 28, 1991)

Warren Armstrong, president of Quebec Sturgeon River Mines (TSE), recently reduced his holding in the 21.6% owned affiliate of Toronto-based Coniagas Mines (TSE).

According to the Ontario Securities Commission OSC Bulletin, Armstrong sold 200,000 shares in August for 23 cents to cut his indirect interest to 101,821. He also holds 4,688 shares directly.

Trading recently at 15 cents compared with a high of 65 cents, Quebec Sturgeon is vulnerable to the gold price which forced 56.9% owned St Andrew Goldfields (TSE) to suspend operations in June at its Stock Twp. mine, west of Matheson, Ont.

Other mining insiders who were active in the stock market recently include: Arimathaea Resources (TSE) President Charles McAlpine was granted the right to purchase 55,000 options for $1.75 to hold the same number. Deak Resources (TSE) Vice-President Gerald Towers bought 97,500 shares for 26 cents to hold 256,875.

Marshall Minerals (TSE) redeemed 22,000 of its own shares for cancellation at $1.10-1.20 to hold none.

NovaGold Resources (TSE) Secretary-Treasurer Angus McIsaac bought 14,000 shares for 69-70 cents and sold 16,000 for 60-65 cents to hold 731,237 directly and 61,599 indirectly.

Sungold Resources (CDN) President Gordon Wilton and director Samuel Greenberg each sold 60,000 shares for 30 cents to hold one.

Wheaton River Minerals (TSE) Chairman Ian McDonald bought 73,000 shares for 38-43 cents to hold 138,000.