Insider Trading Atlanta insiders benefit from price rally

A number of Atlanta Gold (TSE) insiders recently took advantage of the recent price rally sparked by an agreement that gives Newmont Mining (TSE) the option to earn 51% of Atlanta’s Elmore silver project in Idaho.

According to the Ontario Securities Commission’s OSC Bulletin, the biggest beneficiary was Tamarack Mining, which until recently held more than 10% of Atlanta’s 12 million issued shares. As the shares advanced from $1.26, April 6, Tamarack sold 435,000 shares for $1.32-2.99 to hold 951,600. Director Roy Ellerman sold 5,000 shares for $1.70 to close out his holdings, while another director, Karl Rollke, bought 15,000 shares for $1.15-1.20 to hold 395,400.

Listed on the Berlin over-the-counter trading system, Atlanta Gold was trading recently in Toronto at $2.30 in a 52-week range of $3.10 and 30 cents.

Other mining insiders who were active in the stock market recently include:

Arimathaea Resources (TSE) officer and director Gordon Strasser bought 10,000 shares for 40 cents before selling all of them for $1.01-1.20 to close out his holdings.

Cominco (TSE) affiliate Teck (TSE), which owns over 10% of the company’s shares, bought 510,703 shares at $22.90 to hold 6.4 million. Crown Butte Resources (TSE) affiliate Noranda, (TSE) which owns over 10% of the company’s shares, exercised an option to purchase 3.7 million shares for US$5.39 to hold 4.5 million.

Deak Resources (TSE) officer (of affiliate) Frank Smeenk sold 145,000 shares privately for an undisclosed price to hold 30,000 indirectly.

Dickenson Mines (TSE) officer John Cook was granted the right to purchase 30,000 options at $4.25 each to hold 30,000.

Euro-Nevada Mining (TSE) President Pierre Lassonde sold 30,000 shares for $12.75-13 to hold 729,420 directly. He also holds 23,524 shares in an RRSP.

Inco (TSE) bought 17,000 of its own series B preferred shares for US$21.69 to hold 963,300. It also bought 200 series C preferred shares for cancellation at US$43.11 each to hold 3.5 million.

Metalore Resources (TSE) President George Chilian acquired 10,000 shares as compensation for services to the company for $5.50 to hold 276,450.

Noranda (TSE) officer John Gordon sold 3,478 shares under a plan for $17.37-17.50 to hold 49,201.

North American Rare Metals (ME) affiliate Tandem Resources (ME) bought 250,000 shares for 10 cents to hold 4.3 million.

Placer Dome (TSE) director John McDonald bought 2,000 shares for $15 to hold 7,000 directly and 3,000 in an RRSP.

Sikaman Gold Resources (TSE) Vice-President Elia Crespo bought 100,000 shares for 42-50 cents to hold 158,470 directly. She also holds 17,627 shares in an RRSP.

Thunderwood Resources (TSE) director William Vaughan sold 23,000 shares for $1.18-1.25 to hold 46,339.

Total Energold (TSE) director Kristian Ross sold 10,000 shares for $1.25 to hold 296,534 shares directly and 16,771 indirectly.

VSM Exploration (TSE) director Christian Derosier exercised an option to purchase 70,000 shares for 72 cents. He also sold 67,100 for $1.10-1.30 to hold 252,902.