On Sept. 8, O3 Mining Inc. released results of a preliminary economic assessment for its Marban project in Val d’Or, Que. Based on a long-term gold price of US$1,450 per ounce and other assumptions, Marban is estimated to generate an after-tax net present value of $423-million at a 5-per-cent discount rate. As the stock rallied on the news, chief executive Jose Vizquerra bought shares. Since the news, he has spent $349,147 buying shares in the public market. Generally, it is a positive sign when insiders buy into price strength.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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