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Inside the Market Tuesday’s Insider Report: Chairman invests $650,000 in this stock in recent weeks

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.

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Listed below are two securities that have had recent insider buying activity.

Leagold Mining Corp. (LMC-T)

Between July 3 and July 5, chairman Frank Giustra invested over $300,000 in shares of the company. He acquired a total of 150,000 shares at an average price per share of approximately $2.01 for an account in which he has indirect ownership (Fiore Financial Corp.), raising the account’s holdings to 1,205,000 shares.

Previously, we reported that between June 14 and June 17, Mr. Giustra bought a total of 200,000 shares at an average price per share of approximately $1.75 in his personal trading account, increasing his portfolio’s position to 5,066,900 shares. The cost of these purchases in June totalled roughly $350,000.

Martinrea International Inc. (MRE-T)

On June 27, Peter Cirulis, executive vice-president – aluminum, purchased 4,956 shares at an average cost per share of roughly US$8.04, lifting his account balance to 15,608 shares. The cost of this relatively small investment totalled nearly US$40,000.

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Listed below are two stocks that have had selling activity reported by insiders.

Ag Growth International Inc. (AFN-T)

Between June 26 and July 4, co-founder, director and the company’s former chief executive officer Gary Anderson sold a total of 53,175 shares at an average price per share of approximately $55.54, leaving 49,173 shares in his account. Gross proceeds from the sales exceeded $2.9-million.

Semafo Inc. (SMF-T)

Between June 28 and July 4, president and chief executive officer Benoit Desormeaux exercised his options, receiving 228,900 shares at a cost per share of $2.03, and sold 228,900 shares at an average price per share of approximately $5.08. Net proceeds, not including commission charges, totalled nearly $700,000.

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