Golden Knight Resources’ (TSE) director Raymond Cottrell recently earned a substantial profit after exercising an option to purchase 5,000 shares for $8.75 each. According to the Ontario Securities Commission’s OSC Bulletin, Cottrell immediately sold the shares for $12-12.25 to report a gain of $17,000. Cottrell still holds 1,000 Golden Knight common shares and 10,000 options.
A 36.4% owned affiliate of Vancouver-based Teck (TSE), Golden Knight holds a 40% stake in two Casa Berardi Que., gold mines which are expected to produce a combined 90,000 oz. this year. Inco Gold, a unit of Inco (TSE), holds the other 60% interest in the Casa Berardi East and West mines.
Since Cottrell sold his shares, the Golden Knight issue has slipped back to $11 where they traded in a yearly range of $10.38-15.63.
Other mining insiders who were active in the stock market recently include:
Agnico-Eagle Mines (TSE) officer and director Mikey Drutz who sold 200,000 shares for $5.63-7.25 to hold 198,190.
American Barrick Resources (TSE) Senior Vice-President Brian Meikle sold 13,000 shares for $24.25 to hold 1,040.
Cathedral Gold’s (TSE) affiliate Imperial Metals (TSE) bought 19,000 shares of Cathedral between 90 cents and $1.32 to hold 3.5 million shares. The shares were bought by subsidiaries of Imperial Metals which owns 34% of Cathedral Gold.
Crown Butte Resources’ (TSE) director Jack King bought 2,000 shares for $6.55 to hold 19,297.
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