For investors looking for opportunities in the precious metals sector, there are probably few better places in the world than Canada's stock markets in terms of breadth of investment candidates and tax friendliness for miners based here. With that in mind, we revisit the junior gold group.
Over the past month, Chesapeake chief executive officer Randy Reifel bought 36,100 shares in the public market at prices ranging from $7.86 to $8.65. He now holds 3,243,454 shares representing approximately 8.5 per cent of the stock's quoted market value. In terms of overall insider ownership, insiders hold approximately 18 per cent of the company's common shares based on SEDI filings.
Chesapeake is hoping to advance its Metates gold-silver property in Durango, Mexico, into production. As part of that process, it has published a preliminary economic assessment which based on a set of assumptions envisages producing over 500,000 ounces of gold per year over a 27-year mine life.
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.