INSIDER TRADING Bema executives active sellers

While Bema Gold (TSE) is aggressively attempting to boost its gold production at projects in Idaho, Arizona and Chile, the company’s top executives have been active players in the stock market. Back in March, according to the Ontario Securities Commission’s OSC Bulletin, President Barry Rayment and directors Richard Barclay, Ian Johnson and Gary Nordin made adjustments to their holdings.

Barclay bought 8,333 shares for $2.40 and sold 16,666 indirectly at the same price to hold 714,022 directly and indirectly. Johnson sold 15,000 for $2.46-2.48 to hold 536,620 directly and indirectly. Nordin sold 3,000 shares indirectly for $2.24-2.30 to hold 395,870.

At the same time, Rayment exercised an option to purchase 70,000 shares for $1.70. He also sold 75,700 (including 51,300 through short sales) for $2.17-2.50 to close out his direct holdings. He still has 150,000 options.

After releasing results of a feasibility study on its 50% owned Refugio gold deposit in Chile, Bema and a joint venture partner are attempting to raise over US$100 million to develop the project. The study says Refugio could produce 250,000 oz. gold during its first year in operation.

Other mining insiders who were active in the stock market recently include: Amax (TSE) officer Michael Simeon, who sold 1,424 shares for $26 to hold 2,500.

Audrey Resources (TSE) director Real Lafleur exercised an option to purchase 30,000 shares for $1.70. He then sold 18,000 shares for $3.35-3.40 to hold 16,000. Breakwater Resources (TSE) Secretary Brian Irwin sold 24,000 shares for 63-64 cents to hold 500.

Carlin Gold (ASE) director John Hurley sold 40,000 shares for 27 cents to hold none.

Conwest Exploration (TSE) Vice-President William Barnett sold 9,000 Class B shares for $13.75 to hold 27,000.

Eden Roc Minerals (ASE) affiliate Marshall Minerals, which beneficially owns more than 10% of the company’s issued shares, bought 5.9 million shares for 25 cents to hold 20 million.

Freewest Resources (TSE) Secretary Michael Price exercised an option to purchase 30,000 shares for $3 before selling all of them for $4.15 to hold 14,000.

Geddes Resources (TSE) Chairman John Kearney was granted the right to purchase 25,000 options for $1.30 to hold 50,000 options.

Glencairn Explorations (ASE) President Kerry Knoll sold 160,000 shares for 12 cents and bought 750,000 for 20 cents privately to hold 753,718 directly. Vice-President Ian McDonald bought 175,500 shares for 12-16 cents to hold 483,435.

Madeleine Mines’ (TSE) insider George Kaiser, who already holds more than 10% of the company’s shares, bought 15,600 through Kaiser-francis Oil Co. for $4.95-5.125 to hold 1.4 million.

Northgate Exploration (TSE) President John Kearney bought 2,454 shares privately for $1.62 to hold 52,527.

TVX Gold (TSE) director Nigel Lees sold 10,000 shares indirectly for $4.10 to hold 574,466 indirectly.