INSIDER TRADING — Aur insider sells into rally

As the operator of a developing mine and — to add speculative appeal — a major participant in the Northwest Territories diamond hunt, Aur Resources (TSE) has been climbing in price on the Toronto Stock Exchange.

In March, Treasurer Ronald Gagel seized the opportunity to profit on his stock options. According to the Ontario Securities Commission’s OSC Bulletin, Gagel exercised 65,000 options at $2.13 and sold 50,500 shares at $3.60-3.75 to hold 19,200 shares.

The Louvicourt deposit in northwestern Quebec, with reserves of 24 million tonnes grading 3.89% copper, 1.95% zinc and 0.039 oz. gold per ton, is scheduled to enter production in mid-1994. Aur will retain a 30% interest and continue operating the project once Teck has earned into it. In the Northwest Territories, Aur recently accelerated exploration on the McConnell property.

Other transactions completed since the end of February include: Black Hawk Mining (TSE) — Gordon Bub, chairman, bought 222,730 shares for his registered retirement savings plan at 20 cents per share. Officer Charissa Ho bought 30,000 at 20-23 cents to hold 35,451.

Joutel Resources (TSE) — Richard Nemis, director, exercised 50,000 options at 20 cents and sold 50,000 shares at 44 cents to hold none. Noranda (TSE) — Ian Bayer, insider, sold 20,000 shares at $19.50 to hold 10,000. David Bumstead, insider, exercised 1,000 options at $18.78 to hold 102,310.

SouthernEra Resources (TSE) — Grenville Thomas, director, sold 6,000 at $5.13 to hold 174,000.

Thunderwood Resources (TSE) — Peter McCarter, officer, sold 100,000 privately at 58 cents and 185,500 on the market at 70-84 cents to hold 103,236. Howard Stockford, officer, sold 100,000 privately at 58 cents and 100,000 on the market at 80 cents to hold 253,649.

Tyler Resources (TSE) — Pia Von Atzigen, officer, exercised 30,000 options at 46 cents and sold 72,000 shares at 85 cents-$1.15 to hold 35,000 shares.