The president of Horne Fault Mines (CDN), Gordon Leliever, recently took a healthy profit on his investment in the junior when he exercised 701,780 options at 10 cents then sold 1.03 million at 20 cents to hold 450,180 directly and 953,730 indirectly.
A $600,000 spring program financed by KWG Resources on the company’s Lavoie Lake prospect near Thunder Bay, Ont., returned encouraging copper values. KWG, which can earn a 60% interest in the property by spending $3 million over three years, says drilling is likely to resume in the first quarter of 1993.
Other transactions completed recently include:
Equinox Resources (TSE) — Hugh Morgenson, officer and director, exercised 25,000 options at $1.45 and sold 25,000 shares at $2.40-2.64 to hold 10,000 directly and 10,000 indirectly.
Hughes Lang (TSE) — Phoenix Financial Holdings, holder of more than 10%, bought 25,000 at 40 cents to hold 1.8 million.
Ican Minerals (TSE) — Guenter Liedtke, president and director, sold 37,000 at 17-19 cents to hold 439,000.
International Platinum (TSE) — William Bateman, director, sold 80,000 at 15 cents to hold 120,000.
United Reef Petroleums (TSE) — Robert Reese, director, exercised 180,000 options at 10 cents, then sold 180,000 shares at 12-32 cents to hold none.
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