TVX Gold (TSE) director Nigel Lees recently sold a portion of his holdings in the Toronto-based gold-silver miner at a substantial premium on the recent market price.
In November, according to the Ontario Securities Commission OSC Bulletin, Lees sold 33,250 shares held by an Ontario numbered company for $4-4.10 to hold 7,950. Lees also sold 78,000 shares held by C.N. Lees Investments for $4 to hold 176,667.
Since those transactions were completed, shares of the 62% owned Inco (TSE) affiliate have fallen to around $3.30 and are trading in a range of $3.05-5. Other mining insiders who were active in the stock market recently include: American Barrick Resources (TSE) officer Daniel McConvey exercised an option on 5,000 shares at $15.06 before selling all of them for $26.25 to hold no shares and 3,000 options.
Athabaska Gold Resources (TSE) director Edward Kennedy exercised on 71,500 shares at 15 cents and sold 84,500 for 28-32 cents to hold 482,478 shares and 78,500 options. President James Kermeen sold 400,000 shares privately for 25 cents to hold 622,000.
Glamis Gold (TSE) officer Dan Rovig exercised an option on 90,000 shares at $2.85 which he then sold for $4.44 to hold 35,000.
Golden Knight Resources (TSE) affiliate Teck (TSE), which owns more than 10%, bought over 1.03 million shares privately for $10.50 to hold 5.3 million. Inco (TSE) insider Alastair Glover exercised an option on 1,500 shares at US$23.19 before selling all of them for US$32.50 to hold 329. Officer Scott Hand exercised on 1,375 shares at US$23.19-30 to hold 13,650.
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